Gladstone Commercial Co. (NASDAQ:GOOD) Plans Monthly Dividend of $0.13

Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) declared a monthly dividend on Thursday, April 14th, Wall Street Journal reports. Shareholders of record on Friday, May 20th will be paid a dividend of 0.1254 per share by the real estate investment trust on Tuesday, May 31st. This represents a $1.50 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend is Thursday, May 19th.

Gladstone Commercial has a dividend payout ratio of 15,000.0% indicating that 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 $1.69 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 88.8%.

GOOD stock opened at $22.42 on Friday. Gladstone Commercial has a twelve month low of $19.74 and a twelve month high of $26.13. The company has a debt-to-equity ratio of 3.49, a quick ratio of 6.98 and a current ratio of 6.98. The business has a fifty day moving average of $21.71 and a 200-day moving average of $22.54.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG grew its stake in shares of Gladstone Commercial by 22.6% during the third quarter. UBS Group AG now owns 7,824 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 1,440 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Gladstone Commercial by 239.9% during the third quarter. BNP Paribas Arbitrage SA now owns 9,476 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 6,688 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Gladstone Commercial during the fourth quarter worth $216,000. Canada Pension Plan Investment Board acquired a new stake in shares of Gladstone Commercial during the fourth quarter worth $258,000. Finally, Penserra Capital Management LLC grew its stake in shares of Gladstone Commercial by 161.8% during the fourth quarter. Penserra Capital Management LLC now owns 10,088 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 6,234 shares during the period. 50.80% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Gladstone Commercial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Gladstone Commercial from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Gladstone Commercial presently has a consensus rating of “Buy” and a consensus price target of $25.50.

Gladstone Commercial Company Profile (Get Rating)

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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.

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