Gladstone Commercial Co. (NASDAQ:GOOD) declared a monthly dividend on Tuesday, October 12th, Zacks reports. Shareholders of record on Friday, October 22nd will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, October 29th. This represents a $1.50 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Thursday, October 21st.
Gladstone Commercial has increased its dividend payment by 0.1% over the last three years and has raised its dividend annually for the last 2 consecutive years. Gladstone Commercial has a payout ratio of -833.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Gladstone Commercial to earn $1.66 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 90.4%.
Shares of NASDAQ GOOD opened at $21.57 on Thursday. The company has a quick ratio of 6.58, a current ratio of 6.58 and a debt-to-equity ratio of 3.22. The firm’s 50-day moving average price is $22.10 and its two-hundred day moving average price is $21.82. Gladstone Commercial has a 52-week low of $15.78 and a 52-week high of $23.49. The stock has a market capitalization of $792.70 million, a P/E ratio of 13.74, a P/E/G ratio of 2.32 and a beta of 1.01.
A number of equities analysts have issued reports on GOOD shares. Aegis raised their target price on shares of Gladstone Commercial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 10th. Zacks Investment Research lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.50.
A hedge fund recently raised its stake in Gladstone Commercial stock. Morgan Stanley increased its position in Gladstone Commercial Co. (NASDAQ:GOOD) by 17.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 115,674 shares of the real estate investment trust’s stock after purchasing an additional 16,815 shares during the period. Morgan Stanley owned about 0.31% of Gladstone Commercial worth $2,610,000 at the end of the most recent reporting period. 51.56% of the stock is owned by institutional investors and hedge funds.
About Gladstone Commercial
Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.
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