B. Riley Equities Analysts Decrease Earnings Estimates for Gladstone Commercial Co. (NASDAQ:GOOD)

Gladstone Commercial Co. (NASDAQ:GOOD) – Stock analysts at B. Riley dropped their FY2024 earnings per share estimates for shares of Gladstone Commercial in a research report issued on Thursday, April 18th. B. Riley analyst J. Massocca now forecasts that the real estate investment trust will post earnings per share of $1.32 for the year, down from their prior forecast of $1.33. The consensus estimate for Gladstone Commercial’s current full-year earnings is $1.38 per share.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. The firm had revenue of $35.91 million for the quarter, compared to analyst estimates of $36.80 million.

Separately, Alliance Global Partners initiated coverage on shares of Gladstone Commercial in a research report on Monday, March 18th. They set a “buy” rating and a $15.50 price target on the stock.

Gladstone Commercial Stock Performance

NASDAQ:GOOD opened at $13.22 on Monday. The company’s 50-day moving average is $13.05 and its two-hundred day moving average is $12.86. The firm has a market capitalization of $532.90 million, a price-to-earnings ratio of -60.09, a PEG ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 4.79, a current ratio of 3.90 and a quick ratio of 3.90. Gladstone Commercial has a 1-year low of $10.84 and a 1-year high of $14.14.

Institutional Trading of Gladstone Commercial

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Gladstone Commercial by 2,656.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock worth $6,995,000 after buying an additional 509,133 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Gladstone Commercial during the 4th quarter valued at about $161,000. Invesco Ltd. grew its position in Gladstone Commercial by 2.3% in the 3rd quarter. Invesco Ltd. now owns 771,704 shares of the real estate investment trust’s stock valued at $9,384,000 after acquiring an additional 17,436 shares in the last quarter. Samalin Investment Counsel LLC grew its position in Gladstone Commercial by 4.2% in the 3rd quarter. Samalin Investment Counsel LLC now owns 41,344 shares of the real estate investment trust’s stock valued at $503,000 after acquiring an additional 1,685 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in Gladstone Commercial by 6.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 44,900 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 45.51% of the company’s stock.

Gladstone Commercial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.08%. Gladstone Commercial’s payout ratio is currently -545.45%.

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