Gladstone Commercial Corporation Announces Monthly Dividend of $0.10 (NASDAQ:GOOD)

Key Points

• Gladstone Commercial Corporation has announced a monthly dividend of $0.10 per share, with the ex-dividend date set for December 22nd and payment scheduled for December 31st.
• The company currently has a payout ratio of 413.8%, indicating reliance on its balance sheet to fund dividends, but is projected to improve with an expected future payout ratio of 80% based on anticipated earnings.
• Gladstone Commercial reported $0.35 earnings per share for the last quarter, matching analysts' expectations, with a net margin of 18.67% and a return on equity of 16.37%.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) declared a monthly dividend on Tuesday, October 14th. Investors of record on Monday, December 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date is Monday, December 22nd.

Gladstone Commercial has a payout ratio of 413.8% 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 $1.50 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 Up 1.0%

Shares of Gladstone Commercial stock opened at $11.55 on Wednesday. The firm has a market cap of $537.76 million, a PE ratio of 32.08, a P/E/G ratio of 1.28 and a beta of 1.11. The business's 50 day simple moving average is $12.77 and its 200 day simple moving average is $13.63. The company has a debt-to-equity ratio of 4.50, a quick ratio of 2.91 and a current ratio of 2.91. Gladstone Commercial has a 52-week low of $11.26 and a 52-week high of $17.88.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.35. The company had revenue of $39.53 million for the quarter, compared to the consensus estimate of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. On average, analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Institutional Trading of Gladstone Commercial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P lifted its position in Gladstone Commercial by 249.7% during the second quarter. Loomis Sayles & Co. L P now owns 1,759 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 1,256 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Gladstone Commercial in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position in Gladstone Commercial by 751.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,788 shares of the real estate investment trust's stock worth $26,000 after buying an additional 1,578 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Gladstone Commercial by 67.2% during the second quarter. BNP Paribas Financial Markets now owns 4,189 shares of the real estate investment trust's stock worth $60,000 after buying an additional 1,684 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Gladstone Commercial by 199.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,354 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 2,899 shares during the period. Institutional investors own 45.51% of the company's stock.

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.

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