Key Points
- CFO Gary Gerson bought 8,550 shares at an average of $10.09 each, spending about $86,270 and increasing his ownership by 36.42% to 32,025 shares.
- Gladstone Commercial missed quarterly earnings expectations, reporting a loss of $0.11 per share versus analysts’ forecast of $0.04 in earnings; revenue also came in slightly below estimates.
- The REIT announced a monthly dividend of $0.10 per share, equivalent to $1.20 annually and a 11.9% yield. Analysts’ average rating is Hold, with an average price target of $12.25.
Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) CFO Gary Gerson bought 8,550 shares of the stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $10.09 per share, with a total value of $86,269.50. Following the purchase, the chief financial officer owned 32,025 shares in the company, valued at $323,132.25. This trade represents a 36.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Gladstone Commercial Trading Down 1.7%
NASDAQ GOOD opened at $10.06 on Wednesday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 5.82. Gladstone Commercial Corporation has a twelve month low of $10.02 and a twelve month high of $13.28. The firm has a market capitalization of $488.71 million, a PE ratio of 77.39 and a beta of 1.09. The stock's 50 day moving average is $12.26 and its 200 day moving average is $12.34.
Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.15). The firm had revenue of $42.42 million during the quarter, compared to analysts' expectations of $42.56 million. Gladstone Commercial had a return on equity of 11.58% and a net margin of 10.81%. Research analysts forecast that Gladstone Commercial Corporation will post 1.42 earnings per share for the current fiscal year.
Gladstone Commercial Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Monday, December 21st. Gladstone Commercial's payout ratio is 923.08%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on GOOD shares. Weiss Ratings lowered shares of Gladstone Commercial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, November 4th. Huntington started coverage on shares of Gladstone Commercial in a research note on Tuesday, November 3rd. They set a "hold" rating on the stock. B. Riley Financial reissued a "neutral" rating and set a $11.50 price objective (down from $12.50) on shares of Gladstone Commercial in a research note on Wednesday, November 4th. Finally, Wall Street Zen cut shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a report on Saturday. Four analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.25.
Get Our Latest Analysis on Gladstone Commercial
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. CX Institutional bought a new stake in Gladstone Commercial in the third quarter worth $29,000. Fortitude Family Office LLC increased its holdings in shares of Gladstone Commercial by 6,177.8% during 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 acquiring an additional 2,224 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of Gladstone Commercial during the second quarter valued at $40,000. GAMMA Investing LLC raised its position in shares of Gladstone Commercial by 218.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 2,216 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Gladstone Commercial in the 1st quarter worth about $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 owns and leases commercial properties in the United States. Its portfolio includes industrial and office properties, with an emphasis on properties leased to business tenants under long-term agreements. The company generally uses net leases, under which tenants may be responsible for certain property expenses such as taxes, insurance and maintenance. Gladstone Commercial was founded in 2003 and is externally managed by an affiliate of Gladstone Management Corporation.
Further Reading
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