Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) announced a monthly dividend on Friday, April 12th, Wall Street Journal reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, May 31st. This represents a $1.20 annualized dividend and a yield of 9.08%. The ex-dividend date is Thursday, May 16th.
Gladstone Commercial has decreased its dividend payment by an average of 7.2% per year over the last three years. Gladstone Commercial has a dividend payout ratio of 2,000.0% 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 $1.42 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 84.5%.
Gladstone Commercial Price Performance
Shares of Gladstone Commercial stock traded down $0.14 during trading hours on Friday, hitting $13.21. The company's stock had a trading volume of 155,165 shares, compared to its average volume of 233,402. The business has a 50 day moving average price of $13.00 and a two-hundred day moving average price of $12.80. Gladstone Commercial has a 12-month low of $10.84 and a 12-month high of $14.14. The company has a market cap of $532.50 million, a PE ratio of -60.05, a PEG ratio of 1.61 and a beta of 1.15. The company has a debt-to-equity ratio of 4.79, a quick ratio of 3.90 and a current ratio of 3.90.
Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.31). Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. The business had revenue of $35.91 million during the quarter, compared to analysts' expectations of $36.80 million. Analysts expect that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Gladstone Commercial
Hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Gladstone Commercial by 40.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,341 shares of the real estate investment trust's stock worth $110,000 after buying an additional 2,413 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Gladstone Commercial by 467.0% in the third quarter. Tower Research Capital LLC TRC now owns 7,019 shares of the real estate investment trust's stock worth $109,000 after buying an additional 5,781 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Gladstone Commercial by 10.0% in the second quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust's stock worth $108,000 after buying an additional 790 shares in the last quarter. FMR LLC increased its stake in Gladstone Commercial by 39.2% during the third quarter. FMR LLC now owns 8,123 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 2,288 shares during the last quarter. Finally, State of Wyoming increased its stake in Gladstone Commercial by 93.1% during the fourth quarter. State of Wyoming now owns 5,012 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 2,417 shares during the last quarter. 45.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Alliance Global Partners began coverage on Gladstone Commercial in a research report on Monday, March 18th. They issued a "buy" rating and a $15.50 target price on the stock.
View Our Latest Stock Analysis on GOOD
About Gladstone Commercial
(
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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.
Further Reading
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