Zacks Investment Research cut shares of Gladstone Commercial Co. (NASDAQ:GOOD) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Its goal is to pay our shareholders dividends on a monthly basis. Its objective is to increase the amount of dividends paid out each year. “
Separately, Hilliard Lyons cut Gladstone Commercial from a buy rating to a neutral rating in a research report on Wednesday, May 3rd.
Shares of Gladstone Commercial (NASDAQ:GOOD) opened at 19.92 on Friday. The firm’s market cap is $501.88 million. The firm’s 50-day moving average price is $21.37 and its 200-day moving average price is $19.90. Gladstone Commercial has a 52 week low of $15.92 and a 52 week high of $23.35.
Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. Gladstone Commercial had a return on equity of 1.85% and a net margin of 4.91%. The company had revenue of $22.31 million during the quarter. Equities research analysts expect that Gladstone Commercial will post $0.01 EPS for the current fiscal year.
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The company also recently declared a monthly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 21st were paid a dividend of $0.125 per share. The ex-dividend date was Wednesday, April 19th. This represents a $1.50 annualized dividend and a yield of 7.53%. Gladstone Commercial’s dividend payout ratio is -1,666.67%.
Institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of Gladstone Commercial by 2.0% in the fourth quarter. Bessemer Group Inc. now owns 50,400 shares of the real estate investment trust’s stock valued at $1,013,000 after buying an additional 1,000 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Gladstone Commercial by 68.9% in the third quarter. Prudential Financial Inc. now owns 84,642 shares of the real estate investment trust’s stock valued at $1,577,000 after buying an additional 34,514 shares in the last quarter. State Street Corp raised its position in shares of Gladstone Commercial by 12.0% in the fourth quarter. State Street Corp now owns 385,589 shares of the real estate investment trust’s stock valued at $7,750,000 after buying an additional 41,451 shares in the last quarter. Horizon Investments LLC raised its position in shares of Gladstone Commercial by 0.5% in the fourth quarter. Horizon Investments LLC now owns 13,223 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 68 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Gladstone Commercial during the fourth quarter valued at about $514,000. Hedge funds and other institutional investors own 42.54% of the company’s stock.
About Gladstone Commercial
Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.
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