Gladstone Commercial Co. (GOOD) To Go Ex-Dividend on October 22nd

Gladstone Commercial Co. (NASDAQ:GOOD) announced a monthly dividend on Tuesday, October 8th, Wall Street Journal reports. Stockholders of record on Tuesday, October 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend is Tuesday, October 22nd.

Gladstone Commercial has raised its dividend by an average of 28.9% annually over the last three years. Gladstone Commercial has a payout ratio of -1,200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Gladstone Commercial to earn $1.39 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 86.3%.

Gladstone Commercial Stock Down 1.4 %

Shares of GOOD traded down $0.23 during trading on Monday, reaching $16.28. The company’s stock had a trading volume of 190,544 shares, compared to its average volume of 244,105. The company has a market cap of $652.08 million, a price-to-earnings ratio of -85.68, a P/E/G ratio of 1.94 and a beta of 1.21. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $16.61. The company has a fifty day moving average of $15.57 and a two-hundred day moving average of $14.65.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. The firm had revenue of $37.06 million for the quarter, compared to the consensus estimate of $35.89 million. During the same quarter last year, the business earned $0.41 earnings per share. On average, sell-side analysts predict that Gladstone Commercial will post 1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOD shares. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. B. Riley restated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. Finally, StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

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.