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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Monday, July 14th, Wall Street Journal reports. Shareholders 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 8.57%. The ex-dividend date is Monday, September 22nd.

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. 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 Price Performance

Shares of Gladstone Commercial stock opened at $14.00 on Monday. Gladstone Commercial has a twelve month low of $12.67 and a twelve month 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 firm has a market cap of $647.92 million, a P/E ratio of 48.28, a price-to-earnings-growth ratio of 1.65 and a beta of 1.15. The firm's 50-day simple moving average is $14.29 and its 200-day simple moving average is $14.95.

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

Institutional Trading of Gladstone Commercial

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted 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 worth $3,838,000 after acquiring an additional 215,245 shares in the last quarter. Jane Street Group LLC acquired a new stake in Gladstone Commercial in the 1st quarter valued at about $1,805,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Gladstone Commercial in the first quarter worth about $205,000. Strs Ohio acquired a new position in shares of Gladstone Commercial during the first quarter worth approximately $120,000. Finally, AQR Capital Management LLC raised its position 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 last quarter. 45.51% of the stock is currently owned by 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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