Gladstone Commercial (NASDAQ:GOOD) Reaches New 1-Year Low – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD)’s stock price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $10.31 and last traded at $10.3460, with a volume of 493,919 shares changing hands. The stock had previously closed at $10.89.

Analysts Set New Price Targets

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

Gladstone Commercial Price Performance

The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43. The firm has a market capitalization of $505.64 million, a price-to-earnings ratio of 79.68 and a beta of 1.09. The stock’s 50 day moving average price is $12.48 and its two-hundred day moving average price is $12.37.

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

Gladstone Commercial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Monday, December 21st. Gladstone Commercial’s payout ratio is currently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Gladstone Commercial during the second quarter valued at approximately $55,101,000. Bank of New York Mellon Corp acquired a new stake in Gladstone Commercial in the second quarter valued at approximately $2,648,000. Man Group plc bought a new stake in Gladstone Commercial in the second quarter worth approximately $1,018,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Gladstone Commercial by 11,990.7% during the 2nd 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 purchasing an additional 79,618 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Gladstone Commercial during the 2nd quarter worth $895,000. Institutional investors and hedge funds own 45.51% of the company’s stock.

About Gladstone Commercial

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.