Gladstone Commercial (NASDAQ:GOOD) Shares Gap Down to $19.44

Shares of Gladstone Commercial Co. (NASDAQ:GOODGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $19.44, but opened at $17.61. Gladstone Commercial shares last traded at $17.58, with a volume of 837 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com assumed coverage on shares of Gladstone Commercial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. TheStreet lowered shares of Gladstone Commercial from a “c-” rating to a “d+” rating in a research note on Friday, October 7th. Finally, EF Hutton Acquisition Co. I decreased their price target on shares of Gladstone Commercial from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th.

Gladstone Commercial Stock Down 0.4 %

The company has a current ratio of 4.81, a quick ratio of 4.81 and a debt-to-equity ratio of 3.41. The stock has a market capitalization of $661.04 million, a PE ratio of -333.80, a P/E/G ratio of 2.05 and a beta of 1.11. The stock’s fifty day simple moving average is $18.63 and its 200-day simple moving average is $18.45.

Gladstone Commercial (NASDAQ:GOODGet Rating) last posted its quarterly earnings data on Monday, November 7th. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.39). The firm had revenue of $39.83 million for the quarter, compared to analysts’ expectations of $37.14 million. Gladstone Commercial had a return on equity of 4.97% and a net margin of 7.16%. As a group, sell-side analysts forecast that Gladstone Commercial Co. will post 1.6 EPS for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 28th. Investors of record on Friday, February 17th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Thursday, February 16th. Gladstone Commercial’s dividend payout ratio (DPR) is currently -3,000.00%.

Hedge Funds Weigh In On Gladstone Commercial

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOD. XML Financial LLC purchased a new position in shares of Gladstone Commercial in the 3rd quarter worth about $8,125,000. LPL Financial LLC lifted its holdings in Gladstone Commercial by 888.5% during the second quarter. LPL Financial LLC now owns 266,339 shares of the real estate investment trust’s stock valued at $5,018,000 after purchasing an additional 239,396 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Gladstone Commercial during the third quarter valued at about $3,523,000. Renaissance Technologies LLC lifted its holdings in Gladstone Commercial by 6.4% during the first quarter. Renaissance Technologies LLC now owns 2,207,120 shares of the real estate investment trust’s stock valued at $48,601,000 after purchasing an additional 133,700 shares during the last quarter. Finally, HBK Sorce Advisory LLC purchased a new stake in Gladstone Commercial during the third quarter valued at about $125,000. 45.84% of the stock is owned by hedge funds and other institutional investors.

About Gladstone Commercial

(Get Rating)

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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.

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