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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Thursday, July 10th, NASDAQ Dividends reports. Shareholders of record on Monday, July 21st will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, July 31st. This represents a $1.20 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date 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. 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 stock traded down $0.09 during midday trading on Friday, reaching $14.00. 466,377 shares of the company's stock traded hands, compared to its average volume of 324,198. Gladstone Commercial has a 52-week low of $12.67 and a 52-week high of $17.88. The stock has a market cap of $647.92 million, a P/E ratio of 48.28, a PEG ratio of 1.66 and a beta of 1.15. The company has a current ratio of 4.72, a quick ratio of 4.72 and a debt-to-equity ratio of 4.06. The stock's 50-day moving average is $14.29 and its 200 day moving average is $14.96.

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

Institutional Trading of Gladstone Commercial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of Gladstone Commercial in the first quarter worth approximately $120,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Gladstone Commercial during the first quarter worth $205,000. Jane Street Group LLC bought a new position in shares of Gladstone Commercial during the first quarter worth $1,805,000. AQR Capital Management LLC boosted its position 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 acquiring an additional 1,907 shares during the last quarter. Finally, Millennium Management LLC boosted its position 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 last quarter. 45.51% of the stock is owned by hedge funds and other institutional investors.

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.