StockNews.com Downgrades Gladstone Commercial (NASDAQ:GOOD) to Hold

StockNews.com cut shares of Gladstone Commercial (NASDAQ:GOOD) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Gladstone Commercial Stock Performance

GOOD traded up $0.01 during midday trading on Wednesday, reaching $14.68. The company’s stock had a trading volume of 138,252 shares, compared to its average volume of 239,030. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $15.32. The company has a fifty day simple moving average of $14.41 and a 200 day simple moving average of $13.73. The stock has a market cap of $587.99 million, a P/E ratio of -77.26, a PEG ratio of 1.83 and a beta of 1.19. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 4.85.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). The firm had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. During the same period last year, the company earned $0.41 EPS. Research analysts expect that Gladstone Commercial will post 1.36 earnings per share for the current year.

Gladstone Commercial Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date is Friday, September 20th. Gladstone Commercial’s payout ratio is -631.58%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Gladstone Commercial in the second quarter valued at $33,000. Central Pacific Bank Trust Division bought a new stake in shares of Gladstone Commercial in the 1st quarter worth about $64,000. PNC Financial Services Group Inc. lifted its holdings in Gladstone Commercial by 68.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 2,828 shares during the last quarter. Evermay Wealth Management LLC lifted its holdings in Gladstone Commercial by 82.4% during the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 3,475 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Gladstone Commercial during the first quarter worth about $113,000. Institutional investors and hedge funds own 45.51% of the company’s stock.

Gladstone Commercial Company Profile

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 January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.