Gladstone Commercial (NASDAQ:GOOD) CFO Acquires 8,550 Shares of Company Stock

Key Points

• CFO Gary Gerson bought 8,550 shares at an average price of $10.09, spending about $86,270. The purchase increased his stake by 36.42% to 32,025 shares.
• Gladstone Commercial reported quarterly EPS of -$0.11, missing the consensus estimate of $0.04; revenue of $42.42 million also fell slightly short of forecasts.
• The REIT announced a monthly dividend of $0.10 per share, equivalent to a 11.7% annualized yield. Analysts’ consensus rating is Hold, with a $12.25 target price.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) CFO Gary Gerson purchased 8,550 shares of the stock in a transaction on Monday, November 9th. The stock was acquired at an average cost of $10.09 per share, with a total value of $86,269.50. Following the acquisition, the chief financial officer owned 32,025 shares of the company's stock, valued at approximately $323,132.25. This represents a 36.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Gladstone Commercial Stock Performance

Shares of NASDAQ GOOD traded up $0.01 during midday trading on Tuesday, reaching $10.23. The company had a trading volume of 133,274 shares, compared to its average volume of 481,572. The business's 50-day simple moving average is $12.32 and its 200 day simple moving average is $12.35. The company has a current ratio of 2.60, a quick ratio of 3.72 and a debt-to-equity ratio of 5.82. The stock has a market cap of $497.22 million, a P/E ratio of 78.74 and a beta of 1.09. Gladstone Commercial Corporation has a 1 year low of $10.03 and a 1 year high of $13.28.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last released its earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.15). The firm had revenue of $42.42 million for the quarter, compared to analyst estimates of $42.56 million. Gladstone Commercial had a return on equity of 11.58% and a net margin of 10.81%. On average, analysts forecast that Gladstone Commercial Corporation will post 1.42 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Commercial's dividend payout ratio is presently 923.08%.

Institutional Investors Weigh In On Gladstone Commercial

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Gladstone Commercial by 25.1% in the 3rd quarter. Parallel Advisors LLC now owns 4,501 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 903 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Gladstone Commercial by 5.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,823 shares of the real estate investment trust's stock worth $225,000 after buying an additional 986 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Gladstone Commercial by 16.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,878 shares of the real estate investment trust's stock worth $99,000 after purchasing an additional 1,097 shares during the period. Resona Asset Management Co. Ltd. increased its position in Gladstone Commercial by 7.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 22,326 shares of the real estate investment trust's stock worth $253,000 after purchasing an additional 1,595 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Gladstone Commercial by 218.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 2,216 shares in the last quarter. 45.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOD. Weiss Ratings downgraded Gladstone Commercial from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, November 4th. Huntington began coverage on shares of Gladstone Commercial in a report on Tuesday, November 3rd. They issued a "hold" rating for the company. B. Riley Financial reiterated a "neutral" rating and issued a $11.50 price target (down from $12.50) on shares of Gladstone Commercial in a research note on Wednesday, November 4th. Finally, Wall Street Zen lowered Gladstone Commercial from a "hold" rating to a "sell" rating in a research report on Saturday. Four analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.25.

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.

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