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

by · The Cerbat Gem

Gladstone Commercial Corporation (NASDAQ:GOOD – Get Free Report) dropped 5.3% during mid-day trading on Monday. The company traded as low as $11.88 and last traded at $11.8050. 461,707 shares were traded during trading, a decline of 0% from the average daily volume of 463,667 shares. The stock had previously closed at $12.47.

Analyst Ratings Changes

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

Read Our Latest Stock Report on GOOD

Gladstone Commercial Stock Up 1.0%

The firm has a market cap of $580.44 million, a PE ratio of 8.19 and a beta of 1.07. The company has a debt-to-equity ratio of 5.43, a quick ratio of 3.72 and a current ratio of 3.72. The firm’s 50-day moving average price is $12.79 and its two-hundred day moving average price is $12.63.

Gladstone Commercial (NASDAQ:GOOD – Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $42.18 million. As a group, equities research analysts expect that Gladstone Commercial Corporation will post 1.39 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, December 21st will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 10.0%. The ex-dividend date is Monday, December 21st. Gladstone Commercial’s dividend payout ratio is currently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds have recently made changes to their positions in GOOD. Fortitude Family Office LLC lifted its stake in Gladstone Commercial by 6,177.8% in the third quarter. Fortitude Family Office LLC now owns 2,260 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,224 shares during the last quarter. CX Institutional acquired a new stake in shares of Gladstone Commercial in the third quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in shares of Gladstone Commercial by 218.3% in the third quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 2,216 shares during the period. Trust Co. of Vermont purchased a new position in shares of Gladstone Commercial during the second quarter worth approximately $40,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Gladstone Commercial during the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

About Gladstone Commercial

(Get Free Report)

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.

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