Shares of Gladstone Commercial Corp. (NASDAQ:GOOD) rose 2.8% during trading on Wednesday after the company announced a dividend. The stock traded as high as $17.88 and last traded at $17.87, with a volume of 61,281 shares trading hands. The stock had previously closed at $17.38.
The newly announced dividend which will be paid on Friday, December 30th. Investors of record on Tuesday, December 20th will be given a dividend of $0.125 per share. This represents a $1.50 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Friday, December 16th. Gladstone Commercial Corp.’s payout ratio is presently -3,000.00%.
GOOD has been the topic of a number of research analyst reports. TheStreet raised shares of Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of Gladstone Commercial Corp. from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Friday, September 2nd.
The firm’s market capitalization is $403.11 million. The stock’s 50 day moving average price is $18.23 and its 200-day moving average price is $17.39.
Gladstone Commercial Corp. (NASDAQ:GOOD) last released its earnings results on Monday, July 25th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. Gladstone Commercial Corp. had a net margin of 4.89% and a return on equity of 1.83%. On average, equities analysts predict that Gladstone Commercial Corp. will post $1.55 EPS for the current fiscal year.
In other Gladstone Commercial Corp. news, Director Caren D. Merrick bought 2,816 shares of the business’s stock in a transaction on Friday, August 26th. The shares were bought at an average cost of $17.76 per share, for a total transaction of $50,012.16. Following the transaction, the director now owns 2,816 shares in the company, valued at approximately $50,012.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.36% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Gladstone Commercial Corp. by 231.0% in the second quarter. BlackRock Inc. now owns 8,596 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 5,999 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Gladstone Commercial Corp. by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,820 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 25 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Gladstone Commercial Corp. during the second quarter worth about $169,000. State Board of Administration of Florida Retirement System boosted its stake in Gladstone Commercial Corp. by 1.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 10,978 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 158 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Gladstone Commercial Corp. during the second quarter worth about $189,000. Institutional investors and hedge funds own 39.76% of the company’s stock.
Gladstone Commercial Corp. Company Profile
Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing office and industrial properties, and making long-term industrial and commercial mortgage loans. The Company’s portfolio of real estate is leased to a section of tenants ranging from small businesses to large public companies.
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