2024-03-05 21:34:02 ET
Summary
- Gladstone Commercial covers its dividend with funds from operations in Q4 and collected 100% of scheduled rent in 2023.
- The trust has a moderate FFO multiple and a solid margin of safety for passive income investors.
- Despite exposure to the office market, Gladstone Commercial's dividend is expected to be stable in 2024.
Gladstone Commercial Corporation ( GOOD ) is a leading commercial real estate investment trust that continued to cover its dividend with funds from operations in the fourth quarter.
Gladstone Commercial’s strong position in terms of rent collection (the trust collected 100% of its scheduled rent in 2023) and very decent dividend coverage are reasons why I am reaffirming my Buy Stock recommendation....
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Gladstone Commercial: 9.5% Yield, 83% Pay-Out Ratio, 100% Rent Collection