Gladstone Commercial Co. (NASDAQ:GOOD) to Issue $0.10 Monthly Dividend

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 of this dividend is Thursday, April 18th.

Gladstone Commercial has decreased its dividend 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. 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 stock has a market capitalization 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. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 4.79. Gladstone Commercial has a 52 week low of $10.84 and a 52 week high of $14.14. The firm has a 50 day moving average of $13.02 and a two-hundred day moving average of $12.82.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings data 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 company had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $36.80 million. Gladstone Commercial had a return on equity of 2.36% and a net margin of 2.82%. As a group, research analysts expect that Gladstone Commercial will post 1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners assumed coverage on shares of Gladstone Commercial in a research report on Monday, March 18th. They set a “buy” rating and a $15.50 price objective for the company.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in shares of Gladstone Commercial during the 4th quarter worth $232,000. Barclays PLC grew its stake in shares of Gladstone Commercial by 344.8% during the 4th quarter. Barclays PLC now owns 62,995 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 48,832 shares during the period. Royal Bank of Canada grew its stake in shares of Gladstone Commercial by 20.6% during the 4th quarter. Royal Bank of Canada now owns 42,254 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 7,207 shares during the period. Northern Trust Corp grew its stake in shares of Gladstone Commercial by 3.6% during the 4th quarter. Northern Trust Corp now owns 398,936 shares of the real estate investment trust’s stock worth $5,282,000 after purchasing an additional 13,804 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Gladstone Commercial by 41.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,868 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 3,193 shares during the last quarter. 45.51% of the stock is owned by institutional investors and hedge funds.

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.