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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) declared a monthly dividend on Friday, July 11th, Wall Street Journal reports. Stockholders of record on Monday, September 22nd will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 8.57%. The ex-dividend date is Monday, September 22nd.

Gladstone Commercial has a dividend 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 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 Down 0.6%

Shares of NASDAQ:GOOD traded down $0.08 during trading on Friday, reaching $14.01. 271,551 shares of the company traded hands, compared to its average volume of 324,080. The business's fifty day moving average is $14.30 and its 200-day moving average is $14.98. Gladstone Commercial has a 52-week low of $12.67 and a 52-week high of $17.88. The firm has a market capitalization of $648.33 million, a price-to-earnings ratio of 48.26, a P/E/G ratio of 1.67 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.

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

Hedge Funds Weigh In On Gladstone Commercial

Several institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in Gladstone Commercial in the first quarter worth $120,000. Jane Street Group LLC purchased a new stake in Gladstone Commercial in the first quarter worth about $1,805,000. Dynamic Technology Lab Private Ltd purchased a new stake in Gladstone Commercial in the first quarter worth about $205,000. Millennium Management LLC increased its holdings in shares of 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 valued at $3,838,000 after acquiring an additional 215,245 shares during the period. Finally, AQR Capital Management LLC grew its stake 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 valued at $1,814,000 after purchasing an additional 1,907 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.

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