Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) declared a monthly dividend on Friday, April 15th, Wall Street Journal reports. Investors of record on Wednesday, June 22nd will be paid a dividend of 0.1254 per share by the real estate investment trust on Thursday, June 30th. This represents a $1.50 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend is Tuesday, June 21st.
Gladstone Commercial has a dividend payout ratio of 15,000.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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%.
Shares of GOOD opened at $22.42 on Friday. The company has a debt-to-equity ratio of 3.49, a current ratio of 6.98 and a quick ratio of 6.98. Gladstone Commercial has a 1 year low of $19.74 and a 1 year high of $26.13. The company’s 50 day simple moving average is $21.72 and its 200 day simple moving average is $22.55.
Several institutional investors have recently added to or reduced their stakes in GOOD. State Street Corp increased its position in shares of Gladstone Commercial by 3.1% in the fourth quarter. State Street Corp now owns 869,671 shares of the real estate investment trust’s stock worth $22,411,000 after acquiring an additional 26,185 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Gladstone Commercial by 68.7% during the 4th quarter. Wells Fargo & Company MN now owns 51,198 shares of the real estate investment trust’s stock valued at $1,320,000 after purchasing an additional 20,845 shares in the last quarter. Morgan Stanley grew its holdings in Gladstone Commercial by 17.0% during the 2nd quarter. Morgan Stanley now owns 115,674 shares of the real estate investment trust’s stock valued at $2,610,000 after purchasing an additional 16,815 shares in the last quarter. Bank of America Corp DE grew its holdings in Gladstone Commercial by 72.4% during the 4th quarter. Bank of America Corp DE now owns 32,464 shares of the real estate investment trust’s stock valued at $836,000 after purchasing an additional 13,633 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Gladstone Commercial by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 298,939 shares of the real estate investment trust’s stock valued at $6,286,000 after purchasing an additional 12,653 shares in the last quarter. 50.80% of the stock is owned by institutional investors.
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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