Gladstone Commercial (NASDAQ:GOOD) Shares Down 5.3% - Here's What Happened

Key Points

• Gladstone Commercial shares fell 5.3% to approximately $11.81 during Monday trading, with volume roughly in line with the average session volume.
• Analysts maintain a cautious outlook: four analysts rate the stock “Hold,” with a consensus price target of $12.83 compared with the recent share price.
• The REIT exceeded quarterly earnings and revenue expectations and declared a monthly dividend of $0.10 per share, equating to a 10.2% annualized yield; institutional investors own 45.51% of the company.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report)'s share price fell 5.3% during trading on Monday. The company traded as low as $11.88 and last traded at $11.8050. Approximately 461,707 shares were traded during mid-day trading, a decline of 0% from the average session volume of 463,667 shares. The stock had previously closed at $12.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Huntington started coverage on shares of Gladstone Commercial in a report on Wednesday, July 15th. They set a "market perform" rating and a $13.00 price target for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.83.

Gladstone Commercial Stock Down 5.3%

The business's 50-day moving average price is $12.83 and its 200-day moving average price is $12.62. The firm has a market capitalization of $571.46 million, a PE ratio of 45.41 and a beta of 1.07. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.07. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The business had revenue of $43.99 million for the quarter, compared to the consensus estimate of $42.18 million. As a group, equities research analysts predict that Gladstone Commercial Corporation will post 1.39 EPS for the current fiscal year.

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 paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Commercial's payout ratio is presently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Gladstone Commercial in the second quarter worth about $55,101,000. Dimensional Fund Advisors LP raised its stake in shares of Gladstone Commercial by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 657,267 shares of the real estate investment trust's stock valued at $7,512,000 after buying an additional 21,502 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Gladstone Commercial during the second quarter worth about $2,648,000. Quantinno Capital Management LP boosted its stake in Gladstone Commercial by 24.7% in the 1st quarter. Quantinno Capital Management LP now owns 182,555 shares of the real estate investment trust's stock valued at $2,087,000 after buying an additional 36,156 shares in the last quarter. Finally, Swiss National Bank grew its stake in Gladstone Commercial by 4.2% during the first quarter. Swiss National Bank now owns 95,700 shares of the real estate investment trust's stock worth $1,094,000 after buying an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 45.51% of the company's stock.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.