Gladstone Commercial (NASDAQ:GOOD) Hits New 12-Month Low – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD) hit a new 52-week low on Tuesday . The company traded as low as $12.18 and last traded at $12.21, with a volume of 522193 shares. The stock had previously closed at $12.31.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $15.00.

Gladstone Commercial Trading Down 0.8%

The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 4.50. The stock has a market capitalization of $568.49 million, a P/E ratio of 33.92, a P/E/G ratio of 1.37 and a beta of 1.16. The firm’s 50 day simple moving average is $13.13 and its two-hundred day simple moving average is $13.86.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. The firm had revenue of $39.53 million during the quarter, compared to the consensus estimate of $38.32 million. As a group, analysts forecast that Gladstone Commercial Corporation will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 21st were issued a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Monday, July 21st. Gladstone Commercial’s dividend payout ratio (DPR) is currently 333.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Loomis Sayles & Co. L P grew its holdings in shares of Gladstone Commercial by 249.7% during the second quarter. Loomis Sayles & Co. L P now owns 1,759 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,256 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Gladstone Commercial during the first quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Gladstone Commercial by 751.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,788 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,578 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Gladstone Commercial by 67.2% during the second quarter. BNP Paribas Financial Markets now owns 4,189 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 1,684 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Gladstone Commercial by 199.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,354 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 2,899 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

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.