Gladstone Commercial Co. (GOOD) to Issue Monthly Dividend of $0.10 on December 31st

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 8th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be given a dividend of 0.10 per share by the real estate investment trust on Tuesday, December 31st. This represents a $1.20 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Friday, December 20th.

Gladstone Commercial has increased its dividend payment by an average of 28.9% per year over the last three years. Gladstone Commercial has a payout ratio of 444.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Gladstone Commercial to earn $1.45 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 82.8%.

Gladstone Commercial Price Performance

Shares of NASDAQ:GOOD opened at $16.67 on Wednesday. The firm has a market cap of $732.13 million, a price-to-earnings ratio of 83.35, a P/E/G ratio of 1.97 and a beta of 1.24. The firm has a fifty day moving average price of $16.73 and a 200 day moving average price of $15.53. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. Gladstone Commercial has a fifty-two week low of $11.89 and a fifty-two week high of $17.88.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOD. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reaffirmed a “neutral” rating and set a $15.00 price target (up previously from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th.

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.