FY2024 EPS Estimates for Gladstone Commercial Co. Cut by Analyst (NASDAQ:GOOD)

Gladstone Commercial Co. (NASDAQ:GOOD) – Research analysts at B. Riley reduced their FY2024 earnings per share estimates for shares of Gladstone Commercial in a report released on Thursday, April 18th. B. Riley analyst J. Massocca now anticipates that the real estate investment trust will post earnings of $1.32 per share for the year, down from their previous forecast of $1.33. The consensus estimate for Gladstone Commercial’s current full-year earnings is $1.38 per share.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). The company had revenue of $35.91 million for the quarter, compared to analyst estimates of $36.80 million. Gladstone Commercial had a return on equity of 2.36% and a net margin of 2.82%.

Separately, Alliance Global Partners assumed coverage on Gladstone Commercial in a report on Monday, March 18th. They issued a “buy” rating and a $15.50 price objective on the stock.

Gladstone Commercial Trading Up 1.3 %

GOOD opened at $13.39 on Monday. Gladstone Commercial has a one year low of $10.84 and a one year high of $14.14. The stock has a market capitalization of $539.75 million, a PE ratio of -60.86, a P/E/G ratio of 1.59 and a beta of 1.15. The business’s 50 day moving average price is $13.07 and its 200 day moving average price is $12.88. The company has a debt-to-equity ratio of 4.79, a quick ratio of 3.90 and a current ratio of 3.90.

Gladstone Commercial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Commercial’s dividend payout ratio is presently -545.45%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in Gladstone Commercial by 2.3% in the third quarter. Invesco Ltd. now owns 771,704 shares of the real estate investment trust’s stock valued at $9,384,000 after purchasing an additional 17,436 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Gladstone Commercial by 2,656.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock valued at $6,995,000 after purchasing an additional 509,133 shares during the period. Bank of New York Mellon Corp raised its position in Gladstone Commercial by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 245,782 shares of the real estate investment trust’s stock valued at $2,989,000 after purchasing an additional 5,875 shares during the period. Exchange Traded Concepts LLC raised its position in Gladstone Commercial by 28.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock valued at $2,566,000 after purchasing an additional 42,404 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Gladstone Commercial by 4.4% in the third quarter. Asset Management One Co. Ltd. now owns 66,471 shares of the real estate investment trust’s stock valued at $808,000 after purchasing an additional 2,824 shares during the period. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Commercial Company Profile

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.