Gladstone Commercial Corp. (GOOD) Shares Up 2.8% After Dividend Announcement
Shares of Gladstone Commercial Corp. (NASDAQ:GOOD) rose 2.8% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $17.88 and last traded at $17.87, with a volume of 61,281 shares changing hands. The stock had previously closed at $17.38.
The newly announced dividend which will be paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th will be given a $0.125 dividend. This represents a $1.50 annualized dividend and a yield of 8.40%. The ex-dividend date is Friday, December 16th. Gladstone Commercial Corp.’s dividend payout ratio is -3,000.00%.
GOOD has been the topic of several research reports. Zacks Investment Research raised shares of Gladstone Commercial Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, July 13th. TheStreet raised shares of Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 8th.
The firm’s market cap is $403.11 million. The stock’s 50 day moving average is $18.23 and its 200-day moving average is $17.39.
Gladstone Commercial Corp. (NASDAQ:GOOD) last released its earnings results on Monday, July 25th. The real estate investment trust reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. Gladstone Commercial Corp. had a net margin of 4.89% and a return on equity of 1.83%. On average, equities research analysts expect that Gladstone Commercial Corp. will post $1.55 EPS for the current year.
In other Gladstone Commercial Corp. news, Director Caren D. Merrick bought 2,816 shares of Gladstone Commercial Corp. stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $17.76 per share, with a total value of $50,012.16. Following the transaction, the director now directly owns 2,816 shares of the company’s stock, valued at $50,012.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.36% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GOOD. BlackRock Inc. increased its stake in Gladstone Commercial Corp. by 231.0% in the second quarter. BlackRock Inc. now owns 8,596 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 5,999 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in Gladstone Commercial Corp. by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,820 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 25 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Gladstone Commercial Corp. during the second quarter worth $169,000. State Board of Administration of Florida Retirement System increased its stake in Gladstone Commercial Corp. by 1.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,978 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 158 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Gladstone Commercial Corp. during the second quarter worth $189,000. 39.76% of the stock is currently owned by hedge funds and other institutional investors.
Gladstone Commercial Corp. Company Profile
Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing office and industrial properties, and making long-term industrial and commercial mortgage loans. The Company’s portfolio of real estate is leased to a section of tenants ranging from small businesses to large public companies.
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