Gladstone Commercial Co. (NASDAQ:GOOD) to Issue $0.13 Monthly Dividend

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Friday, January 14th, Wall Street Journal reports. Shareholders of record on Wednesday, March 23rd will be given a dividend of 0.1254 per share by the real estate investment trust on Thursday, March 31st. This represents a $1.50 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Tuesday, March 22nd.

Gladstone Commercial has increased its dividend by 0.2% over the last three years and has raised its dividend every year for the last 2 years. Gladstone Commercial has a payout ratio of 3,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.65 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 90.9%.

Shares of NASDAQ:GOOD traded down $0.22 during mid-day trading on Friday, hitting $24.68. The company had a trading volume of 151,549 shares, compared to its average volume of 186,175. The firm has a fifty day moving average price of $23.61 and a 200 day moving average price of $22.73. The company has a market capitalization of $919.77 million, a PE ratio of 498.00, a price-to-earnings-growth ratio of 2.47 and a beta of 1.03. The company has a debt-to-equity ratio of 3.34, a current ratio of 6.05 and a quick ratio of 6.05. Gladstone Commercial has a one year low of $17.46 and a one year high of $26.13.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data on Sunday, October 31st. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $34.33 million during the quarter, compared to analyst estimates of $34.90 million. Gladstone Commercial had a net margin of 11.53% and a return on equity of 7.47%. During the same quarter in the previous year, the business posted $0.40 EPS. Research analysts expect that Gladstone Commercial will post 1.58 earnings per share for the current fiscal year.

In related news, CFO Gary Gerson bought 1,900 shares of the company’s stock in a transaction dated Monday, December 13th. The shares were bought at an average price of $22.85 per share, for a total transaction of $43,415.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.74% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. UBS Group AG boosted its holdings in Gladstone Commercial by 22.6% during the third quarter. UBS Group AG now owns 7,824 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 1,440 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Gladstone Commercial by 14.1% in the 3rd quarter. Royal Bank of Canada now owns 22,177 shares of the real estate investment trust’s stock worth $466,000 after buying an additional 2,743 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Gladstone Commercial by 42.1% in the third quarter. LPL Financial LLC now owns 20,984 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 6,212 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Gladstone Commercial by 239.9% during the third quarter. BNP Paribas Arbitrage SA now owns 9,476 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 6,688 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Gladstone Commercial by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 298,939 shares of the real estate investment trust’s stock worth $6,286,000 after acquiring an additional 12,653 shares during the period. Institutional investors own 50.23% of the company’s stock.

GOOD has been the subject of several research analyst reports. Colliers Securities reiterated a “buy” rating and issued a $26.00 price objective on shares of Gladstone Commercial in a research note on Monday, November 29th. Zacks Investment Research lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.50.

About Gladstone Commercial

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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