Gladstone Commercial Corporation (NASDAQ:GOOD) Announces Monthly Dividend of $0.10

Gladstone Commercial Corporation (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 13th. Investors of record on Friday, October 23rd will be given a dividend of $0.10 per share by the real estate investment trust on Friday, October 30th. This represents a $1.20 annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Friday, October 23rd.

Gladstone Commercial has a 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. Research analysts expect Gladstone Commercial to earn $1.41 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 85.1%.

Gladstone Commercial Trading Up 0.2%

Shares of GOOD opened at $12.84 on Wednesday. The company has a market capitalization of $621.58 million, a P/E ratio of 8.84 and a beta of 1.07. Gladstone Commercial has a one year low of $10.33 and a one year high of $13.28. The company has a debt-to-equity ratio of 5.43, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a 50-day moving average price of $12.83 and a 200 day moving average price of $12.59.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. Gladstone Commercial had a return on equity of 14.61% and a net margin of 14.55%. The company had revenue of $43.99 million for the quarter, compared to the consensus estimate of $42.18 million. Sell-side analysts forecast that Gladstone Commercial will post 1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Gladstone Commercial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gladstone Commercial by 11,990.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,282 shares of the real estate investment trust’s stock valued at $987,000 after purchasing an additional 79,618 shares in the last quarter. Man Group plc acquired a new stake in shares of Gladstone Commercial in the 2nd quarter valued at $1,018,000. BlackRock Inc. bought a new stake in Gladstone Commercial in the second quarter worth $55,101,000. Bank of New York Mellon Corp bought a new stake in Gladstone Commercial in the second quarter worth $2,648,000. Finally, Ieq Capital LLC bought a new stake in Gladstone Commercial in the second quarter worth $830,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.