Gladstone Commercial (NASDAQ:GOOD) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Gladstone Commercial (NASDAQ:GOOD) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04), Zacks reports. The company had revenue of $40.84 million during the quarter, compared to analyst estimates of $40.10 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%.

Gladstone Commercial Stock Performance

Shares of NASDAQ:GOOD traded up $0.26 during trading on Wednesday, reaching $10.96. The company had a trading volume of 359,509 shares, compared to its average volume of 411,263. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.91 and a quick ratio of 2.91. The stock’s fifty day moving average price is $12.23 and its 200 day moving average price is $13.35. Gladstone Commercial has a fifty-two week low of $10.69 and a fifty-two week high of $17.88. The firm has a market capitalization of $510.05 million, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11.

Gladstone Commercial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, December 22nd. This represents a c) dividend on an annualized basis and a yield of 11.0%. Gladstone Commercial’s dividend payout ratio is currently 666.67%.

Analyst Ratings Changes

A number of research firms have commented on GOOD. Zacks Research downgraded shares of Gladstone Commercial from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Wall Street Zen cut Gladstone Commercial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Loop Capital set a $13.00 target price on Gladstone Commercial in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gladstone Commercial in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $13.00.

Institutional Trading of Gladstone Commercial

A number of institutional investors have recently modified their holdings of GOOD. Qube Research & Technologies Ltd grew its stake in Gladstone Commercial by 87.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 525,750 shares of the real estate investment trust’s stock valued at $7,534,000 after acquiring an additional 244,803 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Gladstone Commercial by 525.8% in the 1st quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust’s stock valued at $3,838,000 after purchasing an additional 215,245 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Gladstone Commercial by 113.0% during the 2nd quarter. AQR Capital Management LLC now owns 257,948 shares of the real estate investment trust’s stock worth $3,696,000 after buying an additional 136,823 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Gladstone Commercial in the 1st quarter worth $1,805,000. Finally, Invesco Ltd. boosted its holdings in Gladstone Commercial by 10.7% in the second quarter. Invesco Ltd. now owns 694,748 shares of the real estate investment trust’s stock valued at $9,956,000 after acquiring an additional 67,289 shares during the last quarter. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.