Gladstone Commercial Co. (GOOD) To Go Ex-Dividend on April 18th

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, April 9th, Wall Street Journal reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, April 30th. This represents a $1.20 annualized dividend and a dividend yield of 9.17%. The ex-dividend date of this dividend is Thursday, April 18th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% annually over the last three years. Gladstone Commercial has a dividend payout ratio of 2,000.0% 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 analysts expect Gladstone Commercial to earn $1.42 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 84.5%.

Gladstone Commercial Trading Up 0.9 %

Shares of GOOD traded up $0.12 during mid-day trading on Wednesday, reaching $13.09. The company’s stock had a trading volume of 190,838 shares, compared to its average volume of 232,233. Gladstone Commercial has a 52 week low of $10.84 and a 52 week high of $14.14. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 4.79. The company’s fifty day moving average price is $13.02 and its two-hundred day moving average price is $12.82. The stock has a market cap of $527.66 million, a PE ratio of -58.95, a P/E/G ratio of 1.58 and a beta of 1.15.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. On average, analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gladstone Commercial

Large investors have recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of Gladstone Commercial by 4.1% in the 4th quarter. Legal & General Group Plc now owns 17,569 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 696 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Gladstone Commercial by 5.2% during the first quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 778 shares in the last quarter. Osaic Holdings Inc. raised its holdings in Gladstone Commercial by 10.0% in the 2nd quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 790 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Gladstone Commercial by 7.2% during the third quarter. Guggenheim Capital LLC now owns 13,133 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 886 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Gladstone Commercial by 22.6% in the second quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 911 shares during the period. Institutional investors own 45.51% of the company’s stock.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on Gladstone Commercial in a report on Monday, March 18th. They set a “buy” rating and a $15.50 price target on the stock.

Gladstone Commercial Company Profile

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.