Gladstone Commercial Co. (GOOD) To Go Ex-Dividend on May 16th

Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Friday, April 12th, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date is Thursday, May 16th.

Gladstone Commercial has decreased its dividend payment by an average of 7.2% per year over the last three years. Gladstone Commercial has a payout ratio of 2,000.0% 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 $1.42 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 84.5%.

Gladstone Commercial Trading Down 1.0 %

NASDAQ GOOD opened at $13.21 on Friday. Gladstone Commercial has a 12 month low of $10.84 and a 12 month high of $14.14. The stock has a 50-day simple moving average of $13.00 and a 200 day simple moving average of $12.81. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 4.79.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The company had revenue of $35.91 million during the quarter, compared to the consensus estimate of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. On average, analysts expect that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gladstone Commercial

Several large investors have recently made changes to their positions in GOOD. Legal & General Group Plc raised its holdings in shares of Gladstone Commercial by 4.1% in the fourth quarter. Legal & General Group Plc now owns 17,569 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 696 shares during the last quarter. Cetera Advisor Networks LLC increased its stake in Gladstone Commercial by 5.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 778 shares during the last quarter. Osaic Holdings Inc. lifted its position in Gladstone Commercial by 10.0% during the 2nd quarter. Osaic Holdings Inc. now owns 8,724 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 790 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Gladstone Commercial by 7.2% during the 3rd quarter. Guggenheim Capital LLC now owns 13,133 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 886 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Gladstone Commercial by 22.6% in the 2nd quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 911 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners initiated coverage on shares of Gladstone Commercial in a report on Monday, March 18th. They issued a “buy” rating and a $15.50 target price on the stock.

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.