Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Friday, July 17th, Wall Street Journal reports. Investors of record on Wednesday, September 23rd will be paid a dividend of 0.1252 per share by the real estate investment trust on Wednesday, September 30th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date is Tuesday, September 22nd.
Gladstone Commercial has a dividend payout ratio of -2,142.9% 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 research analysts expect Gladstone Commercial to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 92.0%.
Shares of NASDAQ:GOOD traded up $0.38 during midday trading on Friday, reaching $18.58. The company had a trading volume of 118,813 shares, compared to its average volume of 250,583. The company has a debt-to-equity ratio of 2.98, a current ratio of 5.92 and a quick ratio of 5.92. The stock's fifty day moving average price is $18.44 and its 200-day moving average price is $17.93. The stock has a market capitalization of $626.87 million, a P/E ratio of -76.96 and a beta of 1.03. Gladstone Commercial has a one year low of $7.59 and a one year high of $23.98.
Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Zacks' consensus estimate of $0.39 by ($0.41). The company had revenue of $33.62 million during the quarter, compared to analyst estimates of $30.34 million. Gladstone Commercial had a net margin of 5.97% and a return on equity of 2.99%. As a group, sell-side analysts forecast that Gladstone Commercial will post 1.59 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the company. ValuEngine cut Gladstone Commercial from a "hold" rating to a "sell" rating in a report on Wednesday, April 8th. Zacks Investment Research raised Gladstone Commercial from a "hold" rating to a "buy" rating and set a $21.00 target price on the stock in a report on Wednesday, July 8th. Janney Montgomery Scott restated a "buy" rating on shares of Gladstone Commercial in a research report on Thursday, April 23rd. Wedbush decreased their price target on shares of Gladstone Commercial from $26.00 to $21.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Finally, B. Riley lifted their price objective on shares of Gladstone Commercial from $18.00 to $22.00 in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. Gladstone Commercial presently has an average rating of "Buy" and an average target price of $22.25.
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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.
Featured Article: Understanding debt-to-equity ratio in fundamental analysis
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
6 Gambling Stocks Ready For a Rebound
If you didn’t believe that gambling stocks are a worthwhile investment, consider this. The Business Research Company projects the global gambling market to reach $565.4 billion through 2022. That assumes that the industry will continue growing at is annual rate of 5.9%.
The gambling industry is composed of many segments. There are casinos, lotteries, and the now legalized segment of sports betting. But gambling is also broken down into offline gambling, online gambling and even virtual reality gambling. In fact, virtual reality gambling is projected to grow at an annual rate of 21.5% until 2022.
But virtual reality is only one of a number of emerging technologies that are changing the “traditional” face of the gambling industry. There are now hybrid games – the combination of online and land-based games and even augmented reality games.
And don’t forget about fantasy sports. Fantasy sports has created an entire industry and it wasn’t created for one person to have bragging rights over their buddies. Fantasy sports is a multi-million industry.
But like many other segments of the economy, gambling stocks were hit hard by the Covid-19 pandemic. Not only were casinos closed, but live sports were also put on hold. This dried up many of the traditional avenues of gambling, and gambling stocks sank lower as a result.
However, the global economy is starting to re-open. And while it was thought that casinos would be one of the last to come back, there are casinos that are starting to re-open. And, it’s becoming more and more likely that there will be live sports (likely without fans initially) sooner rather than later. And that will open up the fantasy sports market.
These stocks tend to move quickly. So now is the time to take action. That’s why we’ve created this special presentation that highlights 6 gambling stocks that are ready for a rebound. The sell-off was real, but so will the comeback. And when it does, these stocks may cost much more than they do now.
View the "6 Gambling Stocks Ready For a Rebound".