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Gladstone Commercial Co. Announces Monthly Dividend of $0.13 (NASDAQ:GOOD)

Last updated on Friday, July 17th, 2020 by MarketBeat

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

Dividend History for Gladstone Commercial (NASDAQ:GOOD)

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