Gladstone Commercial Co. Plans Monthly Dividend of $0.10 (NASDAQ:GOOD)

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Friday, April 19th will be given 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 yield of 9.25%. The ex-dividend date 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 payout ratio of 2,000.0% meaning 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 Down 1.2 %

NASDAQ:GOOD opened at $12.97 on Wednesday. The company has a debt-to-equity ratio of 4.79, a current ratio of 3.90 and a quick ratio of 3.90. Gladstone Commercial has a fifty-two week low of $10.84 and a fifty-two week high of $14.14. The stock’s 50-day moving average is $13.02 and its two-hundred day moving average is $12.82. The stock has a market cap of $522.82 million, a PE ratio of -58.95, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15.

Gladstone Commercial (NASDAQ:GOOD) last released its 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). Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. The business had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $36.80 million. As a group, equities research analysts forecast that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Gladstone Commercial

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of Gladstone Commercial during the 1st quarter valued at about $30,000. Money Concepts Capital Corp acquired a new stake in Gladstone Commercial in the 4th quarter worth approximately $30,000. Federated Hermes Inc. acquired a new stake in Gladstone Commercial in the 1st quarter worth approximately $37,000. PNC Financial Services Group Inc. lifted its holdings in Gladstone Commercial by 64.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,432 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,339 shares during the last quarter. Finally, FMR LLC lifted its holdings in Gladstone Commercial by 22.6% in the 2nd quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 911 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

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.