Gladstone Commercial Co. Declares Dividend of $0.10 (NASDAQ:GOOD)

Gladstone Commercial Co. (NASDAQ:GOOD) declared a dividend on Wednesday, May 21st, investing.com reports. Stockholders of record on Thursday, May 22nd will be given a dividend of 0.10 per share by the real estate investment trust on Friday, May 30th. This represents a dividend yield of 8.66%. The ex-dividend date of this dividend is Wednesday, May 21st.

Gladstone Commercial has raised its dividend payment by an average of 41.4% per year over the last three years. Gladstone Commercial has a dividend payout ratio of 413.8% 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 $1.50 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 80.0%.

Gladstone Commercial Trading Down 0.6%

GOOD opened at $13.77 on Friday. The firm has a market cap of $637.32 million, a P/E ratio of 52.96, a P/E/G ratio of 1.82 and a beta of 1.21. The business has a fifty day simple moving average of $14.19 and a 200-day simple moving average of $15.61. Gladstone Commercial has a 52 week low of $12.67 and a 52 week high of $17.88. The company has a quick ratio of 3.54, a current ratio of 5.68 and a debt-to-equity ratio of 4.05.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $37.50 million during the quarter, compared to the consensus estimate of $37.33 million. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. On average, equities analysts expect that Gladstone Commercial will post 1.45 earnings per share for the current year.

Institutional Trading of Gladstone Commercial

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in Gladstone Commercial by 525.8% during the 1st quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust’s stock worth $3,838,000 after buying an additional 215,245 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Gladstone Commercial by 1.6% during the 1st quarter. AQR Capital Management LLC now owns 121,125 shares of the real estate investment trust’s stock worth $1,814,000 after buying an additional 1,907 shares during the last quarter. Jane Street Group LLC purchased a new stake in Gladstone Commercial during the 1st quarter worth about $1,805,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Gladstone Commercial during the 1st quarter worth about $205,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

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.