Gladstone Commercial Co. (NASDAQ:GOOD) Announces $0.10 Dividend

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Tuesday, January 21st,investing.com reports. Shareholders of record on Monday, January 27th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, January 31st. This represents a yield of 7.32%. The ex-dividend date is Friday, January 24th.

Gladstone Commercial has raised its dividend payment by an average of 41.6% per year over the last three years. Gladstone Commercial has a dividend payout ratio of 413.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 82.8%.

Gladstone Commercial Price Performance

Shares of Gladstone Commercial stock opened at $16.39 on Wednesday. The company has a 50-day simple moving average of $16.62 and a two-hundred day simple moving average of $15.86. Gladstone Commercial has a twelve month low of $11.89 and a twelve month high of $17.88. The stock has a market capitalization of $719.85 million, a price-to-earnings ratio of 81.95, a price-to-earnings-growth ratio of 1.88 and a beta of 1.25. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOD shares. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. B. Riley reaffirmed a “neutral” rating and issued a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.