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

Key Points

• Gladstone Commercial's share price fell to a new 12-month low of $12.18, marking a significant drop as it last traded at $12.21 with over 522,000 shares exchanged.
• Analysts have revised their ratings, with Wall Street Zen lowering it from "hold" to "sell," although the consensus rating remains "Buy" with an average target price of $15.00.
• The company recently declared a monthly dividend of $0.10 per share, representing an annualized yield of 9.8%, despite a high dividend payout ratio of 333.33%.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report)'s share price 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 trading hands. The stock had previously closed at $12.31.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Gladstone Commercial has a consensus rating of "Buy" and an average target price of $15.00.

Gladstone Commercial Price Performance

The company's 50 day moving average price is $13.13 and its 200-day moving average price is $13.86. The stock has a market cap 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 company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 4.50.

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

Gladstone Commercial Dividend Announcement

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

Hedge Funds Weigh In On Gladstone Commercial

Several large investors have recently modified their holdings of GOOD. Qube Research & Technologies Ltd raised its stake in Gladstone Commercial by 87.1% during the second quarter. Qube Research & Technologies Ltd now owns 525,750 shares of the real estate investment trust's stock worth $7,534,000 after buying an additional 244,803 shares during the last quarter. Vanguard Group Inc. raised its stake in Gladstone Commercial by 5.7% during the first quarter. Vanguard Group Inc. now owns 4,526,797 shares of the real estate investment trust's stock worth $67,811,000 after buying an additional 242,957 shares during the last quarter. Millennium Management LLC raised its stake in Gladstone Commercial by 525.8% during the first quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust's stock worth $3,838,000 after buying an additional 215,245 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Gladstone Commercial by 54.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 562,671 shares of the real estate investment trust's stock worth $8,063,000 after buying an additional 198,624 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Gladstone Commercial by 22.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 815,997 shares of the real estate investment trust's stock worth $12,224,000 after buying an additional 148,031 shares during the last quarter. Institutional investors own 45.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.