Zacks Investment Research downgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a sell rating in a report released on Wednesday morning.
According to Zacks, “Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Its goal is to pay our shareholders dividends on a monthly basis. Its objective is to increase the amount of dividends paid out each year. “
Several other equities research analysts have also issued reports on GOOD. BidaskClub upgraded shares of Gladstone Commercial from a strong sell rating to a sell rating in a report on Wednesday, March 7th. B. Riley restated a neutral rating and issued a $19.00 target price on shares of Gladstone Commercial in a report on Monday, March 12th. ValuEngine lowered shares of Gladstone Commercial from a buy rating to a hold rating in a report on Thursday, February 15th. TheStreet lowered shares of Gladstone Commercial from a c rating to a d+ rating in a report on Tuesday, March 27th. Finally, Hilliard Lyons upgraded shares of Gladstone Commercial from a neutral rating to a long rating in a report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $21.50.
Shares of NASDAQ:GOOD opened at $17.72 on Wednesday. Gladstone Commercial has a 52 week low of $16.78 and a 52 week high of $23.29. The firm has a market capitalization of $509.29, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 1.88 and a beta of 0.78. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.43 and a quick ratio of 1.43.
Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Wednesday, February 14th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.54). The firm had revenue of $25.25 million during the quarter, compared to the consensus estimate of $24.24 million. Gladstone Commercial had a return on equity of 2.36% and a net margin of 6.26%. research analysts expect that Gladstone Commercial will post 1.59 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Wednesday, June 20th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, June 19th. This represents a $1.50 annualized dividend and a dividend yield of 8.47%. Gladstone Commercial’s dividend payout ratio (DPR) is presently 98.68%.
In related news, CEO David Gladstone acquired 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $17.50 per share, for a total transaction of $297,500.00. Following the acquisition, the chief executive officer now directly owns 466,564 shares of the company’s stock, valued at approximately $8,164,870. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought a total of 21,200 shares of company stock valued at $371,596 in the last 90 days. Company insiders own 1.98% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in GOOD. Bank of New York Mellon Corp lifted its holdings in Gladstone Commercial by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 243,509 shares of the real estate investment trust’s stock valued at $5,423,000 after buying an additional 5,333 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Gladstone Commercial by 5.6% during the 3rd quarter. Wells Fargo & Company MN now owns 256,502 shares of the real estate investment trust’s stock valued at $5,713,000 after buying an additional 13,575 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Gladstone Commercial by 517.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 282,822 shares of the real estate investment trust’s stock valued at $6,299,000 after buying an additional 237,022 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gladstone Commercial by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 355,768 shares of the real estate investment trust’s stock valued at $7,923,000 after buying an additional 6,106 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Gladstone Commercial by 12.2% during the 3rd quarter. Stifel Financial Corp now owns 32,268 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 3,502 shares in the last quarter. Institutional investors own 54.63% of the company’s stock.
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About Gladstone Commercial
Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.
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