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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Friday, July 11th, Wall Street Journal reports. Investors of record on Monday, September 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 30th. This represents a $1.20 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date is Monday, September 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 Trading Up 0.9%

Shares of GOOD traded up $0.13 during mid-day trading on Monday, reaching $14.13. 442,438 shares of the company were exchanged, compared to its average volume of 324,749. Gladstone Commercial has a 52 week low of $12.67 and a 52 week high of $17.88. 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 stock has a market capitalization of $653.98 million, a PE ratio of 48.73, a PEG ratio of 1.65 and a beta of 1.15. The business has a 50 day simple moving average of $14.30 and a two-hundred day simple moving average of $14.94.

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 EPS for the quarter, meeting analysts' consensus estimates of $0.34. The business had revenue of $37.50 million for 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, analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOD. AQR Capital Management LLC boosted its holdings in Gladstone Commercial by 1.6% in 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 in the last quarter. Millennium Management LLC increased 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gladstone Commercial during the first quarter worth about $205,000. Jane Street Group LLC bought a new stake in shares of Gladstone Commercial during the first quarter worth about $1,805,000. Finally, Strs Ohio bought a new stake in shares of Gladstone Commercial during the first quarter worth about $120,000. 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.