Gladstone Commercial Co. (NASDAQ:GOOD) Plans Monthly Dividend of $0.13

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 12th, Zacks reports. Shareholders of record on Friday, October 22nd will be given a dividend of 0.125 per share by the real estate investment trust on Friday, October 29th. This represents a $1.50 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend is Thursday, October 21st.

Gladstone Commercial has raised its dividend payment by 0.1% over the last three years and has raised its dividend annually for the last 2 consecutive years. Gladstone Commercial has a payout ratio of -833.3% meaning 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 $1.66 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 90.4%.

NASDAQ:GOOD opened at $21.57 on Thursday. Gladstone Commercial has a 52 week low of $15.78 and a 52 week high of $23.49. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $792.70 million, a P/E ratio of 13.74, a P/E/G ratio of 2.32 and a beta of 1.01. The stock’s fifty day moving average is $22.10 and its two-hundred day moving average is $21.82.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Sunday, August 8th. The real estate investment trust reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Gladstone Commercial had a net margin of 10.40% and a return on equity of 6.68%. The business had revenue of $33.37 million during the quarter, compared to analysts’ expectations of $34.47 million. Sell-side analysts anticipate that Gladstone Commercial will post 1.57 earnings per share for the current fiscal year.

A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 4th. Aegis lifted their price objective on Gladstone Commercial from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Gladstone Commercial currently has an average rating of “Buy” and a consensus price target of $25.50.

A hedge fund recently raised its stake in Gladstone Commercial stock. Morgan Stanley increased its stake in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,674 shares of the real estate investment trust’s stock after purchasing an additional 16,815 shares during the quarter. Morgan Stanley owned 0.31% of Gladstone Commercial worth $2,610,000 at the end of the most recent quarter. Institutional investors and hedge funds own 51.56% of the company’s stock.

Gladstone Commercial Company Profile

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

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Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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