Gladstone Commercial Corporation (NASDAQ:GOOD) Declares $0.10 Dividend

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) announced a dividend on Monday, July 21st, investing.com reports. Investors of record on Tuesday, July 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, July 31st. This represents a yield of 8.79%. The ex-dividend date of this dividend is Monday, July 21st.

Gladstone Commercial has a 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 Performance

GOOD traded down $0.04 during trading hours on Thursday, hitting $13.75. The company's stock had a trading volume of 122,239 shares, compared to its average volume of 383,179. Gladstone Commercial has a fifty-two week low of $12.67 and a fifty-two week high of $17.88. The firm has a market capitalization of $636.16 million, a PE ratio of 47.40, a PEG ratio of 1.63 and a beta of 1.15. The company has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $14.83. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 4.06.

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

Hedge Funds Weigh In On Gladstone Commercial

Several institutional investors and hedge funds have recently bought and sold shares of GOOD. Strs Ohio acquired a new position in shares of Gladstone Commercial during the 1st quarter valued at about $120,000. Jane Street Group LLC acquired a new stake in Gladstone Commercial in the 1st quarter worth approximately $1,805,000. Dynamic Technology Lab Private Ltd acquired a new stake in Gladstone Commercial in the 1st quarter worth approximately $205,000. Millennium Management LLC lifted its holdings in 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 purchasing an additional 215,245 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Gladstone Commercial by 1.6% in the 1st quarter. AQR Capital Management LLC now owns 121,125 shares of the real estate investment trust's stock worth $1,814,000 after purchasing an additional 1,907 shares during the last quarter. Hedge funds and other 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.