Gladstone Commercial (NASDAQ:GOOD) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Gladstone Commercial in a research report on Wednesday. Loop Capital set a $13.00 price target on Gladstone Commercial in a research report on Wednesday, November 5th. Zacks Research cut Gladstone Commercial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $13.00.

Gladstone Commercial Price Performance

The company has a debt-to-equity ratio of 4.50, a quick ratio of 2.91 and a current ratio of 2.91. The stock has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $13.07. The firm has a market cap of $523.21 million, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11.

Gladstone Commercial (NASDAQ:GOOD) last announced 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). The business had revenue of $40.84 million during the quarter, compared to analysts’ expectations of $40.10 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. Sell-side analysts expect 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. Shareholders of record on Monday, December 22nd will be paid 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 yield of 11.1%. Gladstone Commercial’s payout ratio is 666.67%.

Insiders Place Their Bets

In other Gladstone Commercial news, CFO Gary Gerson acquired 7,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average cost of $11.05 per share, for a total transaction of $83,980.00. Following the completion of the acquisition, the chief financial officer owned 23,200 shares of the company’s stock, valued at approximately $256,360. The trade was a 48.72% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have bought 8,500 shares of company stock valued at $93,751. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GOOD. Qube Research & Technologies Ltd raised its stake in shares of Gladstone Commercial by 56.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 823,864 shares of the real estate investment trust’s stock valued at $10,150,000 after acquiring an additional 298,114 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gladstone Commercial by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 4,526,797 shares of the real estate investment trust’s stock valued at $67,811,000 after buying an additional 242,957 shares during the period. Invesco Ltd. lifted its stake in Gladstone Commercial by 33.6% during the 3rd quarter. Invesco Ltd. now owns 928,241 shares of the real estate investment trust’s stock worth $11,436,000 after acquiring an additional 233,493 shares in the last quarter. Millennium Management LLC boosted its holdings in Gladstone Commercial by 525.8% during the 1st quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust’s stock valued at $3,838,000 after acquiring an additional 215,245 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Gladstone Commercial by 54.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 562,671 shares of the real estate investment trust’s stock valued at $8,063,000 after acquiring an additional 198,624 shares during the period. Hedge funds and other institutional investors own 45.51% of the company’s stock.

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.