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

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) declared a monthly dividend on Monday, July 14th, Wall Street Journal reports. Shareholders 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 yield of 8.73%. 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 Stock Performance

NASDAQ:GOOD traded down $0.04 on Thursday, hitting $13.75. The stock had a trading volume of 447,810 shares, compared to its average volume of 323,919. The stock has a market cap of $636.35 million, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 4.06. The business's 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $14.90. Gladstone Commercial has a 52-week low of $12.67 and a 52-week high of $17.88.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Gladstone Commercial in the first quarter worth about $120,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Gladstone Commercial in the first quarter worth about $205,000. Jane Street Group LLC bought a new stake in Gladstone Commercial during the 1st quarter valued at approximately $1,805,000. AQR Capital Management LLC raised its stake in Gladstone Commercial by 1.6% during the 1st 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 period. Finally, Millennium Management LLC raised its stake in Gladstone Commercial by 525.8% during 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 purchasing an additional 215,245 shares during the period. Institutional investors 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.