Gladstone Commercial Corporation (GOOD) to Issue Monthly Dividend of $0.10 on June 30th

Gladstone Commercial Corporation (NASDAQ:GOOD) announced a monthly dividend on Thursday, April 10th, Wall Street Journal reports. Stockholders of record on Friday, June 20th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, June 30th. This represents a $1.20 annualized dividend and a dividend yield of 8.30%. The ex-dividend date is Friday, June 20th.

Gladstone Commercial has a dividend payout ratio of 413.8% 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 research analysts expect Gladstone Commercial to earn $1.50 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 80.0%.

Gladstone Commercial Stock Down 0.4%

Shares of NASDAQ GOOD opened at $14.45 on Wednesday. The company has a debt-to-equity ratio of 4.06, a current ratio of 4.72 and a quick ratio of 4.72. Gladstone Commercial has a one year low of $12.67 and a one year high of $17.88. The firm’s 50 day simple moving average is $14.16 and its two-hundred day simple moving average is $15.25. The stock has a market capitalization of $668.75 million, a P/E ratio of 49.83, a PEG ratio of 1.71 and a beta of 1.16.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $37.50 million for the quarter, compared to the consensus estimate of $37.33 million. Gladstone Commercial had a net margin of 16.97% and a return on equity of 15.32%. As a group, analysts expect that Gladstone Commercial will post 1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Gladstone Commercial

Large investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in shares of Gladstone Commercial by 525.8% in the 1st quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust’s stock worth $3,838,000 after buying an additional 215,245 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Gladstone Commercial by 1.6% during the first quarter. AQR Capital Management LLC now owns 121,125 shares of the real estate investment trust’s stock worth $1,814,000 after buying an additional 1,907 shares in the last quarter. Jane Street Group LLC acquired a new position in Gladstone Commercial in the 1st quarter worth about $1,805,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Commercial during the 1st quarter worth about $205,000. Finally, Strs Ohio acquired a new stake in shares of Gladstone Commercial in the first quarter worth approximately $120,000. Hedge funds and other institutional investors own 45.51% of the company’s 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.