Gladstone Commercial (NASDAQ:GOOD) Reaches New 52-Week Low - Here's Why

Key Points

• Gladstone Commercial hit a new 52-week low, falling to $10.31 from a previous close of $10.89.
• The REIT reported a quarterly loss of $0.11 per share, missing analysts’ $0.04 EPS estimate; revenue of $42.42 million was also slightly below expectations.
• Analysts’ consensus rating is Hold, with a $12.25 average price target. The company declared a monthly $0.10-per-share dividend, an annualized yield of 11.5%, though its reported payout ratio is 461.54%.

Shares of Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $10.31 and last traded at $10.3460, with a volume of 493,919 shares trading hands. The stock had previously closed at $10.89.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Huntington started coverage on shares of Gladstone Commercial in a research report on Tuesday. They set a "hold" rating on the stock. B. Riley Financial restated a "neutral" rating and issued a $11.50 price target (down from $12.50) on shares of Gladstone Commercial in a report on Wednesday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Gladstone Commercial has an average rating of "Hold" and a consensus price target of $12.25.

Gladstone Commercial Stock Performance

The company has a debt-to-equity ratio of 5.43, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a market capitalization of $505.64 million, a P/E ratio of 79.68 and a beta of 1.09. The company has a fifty day moving average of $12.48 and a two-hundred day moving average of $12.37.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.15). Gladstone Commercial had a return on equity of 11.30% and a net margin of 10.81%. The firm had revenue of $42.42 million for the quarter, compared to the consensus estimate of $42.56 million. On average, equities analysts anticipate that Gladstone Commercial Corporation will post 1.39 EPS for the current year.

Gladstone Commercial Announces Dividend

The business 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. The ex-dividend date is Monday, December 21st. This represents a $1.20 dividend on an annualized basis and a yield of 11.5%. Gladstone Commercial's payout ratio is currently 461.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Man Group plc purchased a new stake in Gladstone Commercial during the second quarter valued at about $1,018,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Gladstone Commercial by 11,990.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,282 shares of the real estate investment trust's stock worth $987,000 after acquiring an additional 79,618 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Gladstone Commercial in the second quarter worth approximately $55,101,000. Bank of New York Mellon Corp acquired a new stake in shares of Gladstone Commercial during the second quarter valued at approximately $2,648,000. Finally, Ieq Capital LLC purchased a new stake in shares of Gladstone Commercial in the 2nd quarter valued at approximately $830,000. Institutional investors own 45.51% of the company's stock.

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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