Analysts expect Gladstone Commercial Co. (NASDAQ:GOOD) to post $28.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gladstone Commercial’s earnings. The highest sales estimate is $28.71 million and the lowest is $28.34 million. Gladstone Commercial posted sales of $26.59 million during the same quarter last year, which suggests a positive year over year growth rate of 7.4%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, July 30th.
According to Zacks, analysts expect that Gladstone Commercial will report full-year sales of $116.10 million for the current year, with estimates ranging from $115.60 million to $116.57 million. For the next fiscal year, analysts expect that the firm will report sales of $124.55 million, with estimates ranging from $122.62 million to $126.84 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Gladstone Commercial.
Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.34). The firm had revenue of $28.14 million during the quarter, compared to analyst estimates of $27.69 million. Gladstone Commercial had a net margin of 11.41% and a return on equity of 4.90%.
Several brokerages recently issued reports on GOOD. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Finally, BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Gladstone Commercial has a consensus rating of “Hold” and an average price target of $21.63.
Shares of Gladstone Commercial stock traded down $0.05 on Friday, hitting $21.33. The stock had a trading volume of 87,100 shares, compared to its average volume of 133,163. Gladstone Commercial has a 52-week low of $16.89 and a 52-week high of $22.83. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 2.14. The firm has a market cap of $650.02 million, a PE ratio of 13.42, a price-to-earnings-growth ratio of 2.68 and a beta of 0.84. The business has a 50 day moving average price of $21.30.
The company also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.125 per share. This represents a $1.50 annualized dividend and a dividend yield of 7.03%. The ex-dividend date is Friday, July 19th. Gladstone Commercial’s dividend payout ratio (DPR) is 94.34%.
Several large investors have recently made changes to their positions in GOOD. Rhumbline Advisers boosted its holdings in Gladstone Commercial by 44.7% in the fourth quarter. Rhumbline Advisers now owns 44,891 shares of the real estate investment trust’s stock valued at $804,000 after purchasing an additional 13,875 shares during the period. Prudential Financial Inc. increased its position in Gladstone Commercial by 6.6% during the 4th quarter. Prudential Financial Inc. now owns 111,684 shares of the real estate investment trust’s stock worth $2,001,000 after purchasing an additional 6,917 shares during the period. BlackRock Inc. increased its position in Gladstone Commercial by 3.1% during the 4th quarter. BlackRock Inc. now owns 2,252,248 shares of the real estate investment trust’s stock worth $40,361,000 after purchasing an additional 68,243 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Gladstone Commercial by 5.1% in the 4th quarter. Bank of New York Mellon Corp now owns 247,175 shares of the real estate investment trust’s stock worth $4,428,000 after acquiring an additional 12,099 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of Gladstone Commercial by 2.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,147 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 632 shares during the period. 54.93% of the stock is currently owned by institutional investors and hedge funds.
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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.
Featured Story: Short Selling Stocks, A Beginner’s Guide
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gladstone Commercial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gladstone Commercial and related companies with MarketBeat.com's FREE daily email newsletter.