Gladstone Commercial (NASDAQ:GOOD) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Gladstone Commercial (NASDAQ:GOOD) posted its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14), FiscalAI reports. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The company had revenue of $42.42 million for the quarter, compared to analyst estimates of $42.56 million.

Gladstone Commercial Stock Performance

Shares of NASDAQ GOOD traded down $0.05 during trading hours on Tuesday, hitting $11.53. 501,730 shares of the company’s stock were exchanged, compared to its average volume of 468,763. Gladstone Commercial has a 1-year low of $10.33 and a 1-year high of $13.28. The stock has a market capitalization of $558.14 million, a price-to-earnings ratio of 44.35 and a beta of 1.07. The company’s 50-day moving average price is $12.56 and its 200-day moving average price is $12.37. The company has a debt-to-equity ratio of 5.43, a current ratio of 3.72 and a quick ratio of 3.72.

Gladstone Commercial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, December 21st will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 10.4%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Commercial’s payout ratio is currently 461.54%.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOD. Huntington began coverage on Gladstone Commercial in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.83.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation (NASDAQ: GOOD) is a real estate investment trust (REIT) that owns, acquires, and manages income-producing commercial properties in the United States. The company primarily focuses on office and industrial real estate, including business parks, office buildings, manufacturing facilities, distribution properties, and other commercial assets.

Gladstone Commercial generally leases its properties to businesses under long-term agreements, with the goal of generating recurring rental income.