Gladstone Commercial (NASDAQ:GOOD) Shares Down 5.3% – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD)’s share price fell 5.3% during trading on Monday. The company traded as low as $11.88 and last traded at $11.8050. Approximately 461,707 shares were traded during mid-day trading, a decline of 0% from the average session volume of 463,667 shares. The stock had previously closed at $12.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Huntington started coverage on shares of Gladstone Commercial in a report on Wednesday, July 15th. They set a “market perform” rating and a $13.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.83.

Gladstone Commercial Stock Down 5.3%

The business’s 50-day moving average price is $12.83 and its 200-day moving average price is $12.62. The firm has a market capitalization of $571.46 million, a PE ratio of 45.41 and a beta of 1.07. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The business had revenue of $43.99 million for the quarter, compared to the consensus estimate of $42.18 million. As a group, equities research analysts predict that Gladstone Commercial Corporation will post 1.39 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Commercial’s payout ratio is presently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Gladstone Commercial in the second quarter worth about $55,101,000. Dimensional Fund Advisors LP raised its stake in shares of Gladstone Commercial by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 657,267 shares of the real estate investment trust’s stock valued at $7,512,000 after buying an additional 21,502 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Gladstone Commercial during the second quarter worth about $2,648,000. Quantinno Capital Management LP boosted its stake in Gladstone Commercial by 24.7% in the 1st quarter. Quantinno Capital Management LP now owns 182,555 shares of the real estate investment trust’s stock valued at $2,087,000 after buying an additional 36,156 shares in the last quarter. Finally, Swiss National Bank grew its stake in Gladstone Commercial by 4.2% during the first quarter. Swiss National Bank now owns 95,700 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 45.51% of the company’s stock.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.