Gladstone Commercial (NASDAQ:GOOD) Hits New 1-Year Low – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $10.53 and last traded at $10.5170, with a volume of 225815 shares changing hands. The stock had previously closed at $10.74.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research downgraded Gladstone Commercial from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Loop Capital set a $13.00 price target on shares of Gladstone Commercial in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Gladstone Commercial in a research report on Wednesday. Finally, Wall Street Zen downgraded shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.00.

Gladstone Commercial Price Performance

The company’s 50 day moving average is $11.75 and its 200-day moving average is $13.12. The firm has a market capitalization of $509.90 million, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.26 and a beta of 1.11. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 4.50.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.04). Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. The company had revenue of $40.84 million during the quarter, compared to the consensus estimate of $40.10 million. Equities research analysts anticipate that Gladstone Commercial Corporation will post 1.45 earnings per share for the current year.

Gladstone Commercial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%. Gladstone Commercial’s dividend payout ratio (DPR) is currently 666.67%.

Insider Activity at Gladstone Commercial

In related news, CFO Gary Gerson purchased 7,600 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $11.05 per share, with a total value of $83,980.00. Following the completion of the purchase, the chief financial officer directly owned 23,200 shares in the company, valued at $256,360. This trade represents a 48.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 8,500 shares of company stock valued at $93,751 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Gladstone Commercial by 1.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 49,456 shares of the real estate investment trust’s stock valued at $709,000 after purchasing an additional 849 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Gladstone Commercial by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 22,102 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 932 shares during the last quarter. Tritonpoint Wealth LLC grew its holdings in shares of Gladstone Commercial by 7.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 14,535 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. increased its position in Gladstone Commercial by 2.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 46,681 shares of the real estate investment trust’s stock worth $669,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Gladstone Commercial by 6.9% in the second quarter. Evergreen Capital Management LLC now owns 16,942 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 1,096 shares in the last quarter. 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.