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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) declared a monthly dividend on Thursday, July 10th, NASDAQ Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 8.49%. 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. 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

Shares of GOOD stock traded up $0.13 on Monday, hitting $14.13. The company had a trading volume of 442,438 shares, compared to its average volume of 324,749. The firm has a market cap of $653.98 million, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. The company has a 50-day moving average price of $14.30 and a 200-day moving average price of $14.94. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 4.06. Gladstone Commercial has a twelve month low of $12.67 and a twelve month high of $17.88.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $37.50 million during the quarter, compared to analysts' expectations of $37.33 million. Gladstone Commercial had a return on equity of 15.32% and a net margin of 16.97%. As a group, equities research analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gladstone Commercial

A number of large investors have recently bought and sold shares of GOOD. AQR Capital Management LLC raised 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 period. Millennium Management LLC raised 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 period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gladstone Commercial during the first quarter valued at approximately $205,000. Jane Street Group LLC acquired a new position in shares of Gladstone Commercial during the first quarter valued at approximately $1,805,000. Finally, Strs Ohio acquired a new position in shares of Gladstone Commercial during the first quarter valued at approximately $120,000. Institutional investors and hedge funds 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.