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

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

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. 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 Price Performance

Shares of GOOD traded up $0.04 during mid-day trading on Monday, hitting $13.69. 530,918 shares of the stock were exchanged, compared to its average volume of 325,774. The firm has a 50-day moving average of $14.28 and a two-hundred day moving average of $14.87. The company has a debt-to-equity ratio of 4.06, a quick ratio of 4.72 and a current ratio of 4.72. The company has a market cap of $633.57 million, a PE ratio of 47.21, a price-to-earnings-growth ratio of 1.61 and a beta of 1.15. Gladstone Commercial has a 52-week low of $12.67 and a 52-week high of $17.88.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The firm had revenue of $37.50 million during the quarter, compared to analysts' expectations of $37.33 million. Gladstone Commercial had a net margin of 16.97% and a return on equity of 15.32%. On average, equities analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOD. Strs Ohio purchased a new stake in shares of Gladstone Commercial during the first quarter worth $120,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Commercial in the 1st quarter valued at $205,000. Jane Street Group LLC acquired a new position in Gladstone Commercial in the 1st quarter valued at about $1,805,000. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,907 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Gladstone Commercial by 525.8% during the first quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust's stock worth $3,838,000 after acquiring an additional 215,245 shares during the period. 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.

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