Gladstone Commercial (NASDAQ:GOOD) Releases Earnings Results, Beats Estimates By $0.30 EPS

Gladstone Commercial (NASDAQ:GOOD) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.30, Zacks reports. Gladstone Commercial had a net margin of 12.74% and a return on equity of 11.86%. The company had revenue of $41.91 million during the quarter, compared to the consensus estimate of $42.94 million.

Gladstone Commercial Trading Up 2.7%

GOOD traded up $0.34 during midday trading on Thursday, reaching $12.72. 541,055 shares of the company’s stock traded hands, compared to its average volume of 454,656. The stock has a market capitalization of $615.74 million, a price-to-earnings ratio of 70.67 and a beta of 1.09. The firm has a fifty day moving average of $12.17 and a two-hundred day moving average of $11.54. Gladstone Commercial has a 52 week low of $10.33 and a 52 week high of $15.03. The company has a debt-to-equity ratio of 4.92, a current ratio of 5.36 and a quick ratio of 5.36.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Tuesday, June 23rd. Gladstone Commercial’s dividend payout ratio is currently 666.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its position in shares of Gladstone Commercial by 751.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,788 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,578 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Gladstone Commercial during the 3rd quarter valued at $34,000. Parallel Advisors LLC grew its holdings in Gladstone Commercial by 71.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,811 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,168 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Gladstone Commercial by 67.2% in the second quarter. BNP Paribas Financial Markets now owns 4,189 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 1,684 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Gladstone Commercial by 199.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,354 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 2,899 shares during the period. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOD shares. B. Riley Financial restated a “neutral” rating and set a $12.50 target price (up from $11.00) on shares of Gladstone Commercial in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gladstone Commercial in a report on Friday, March 27th. Finally, Wall Street Zen raised Gladstone Commercial from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.75.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on the acquisition and long?term ownership of industrial and office properties throughout the United States. The company’s portfolio emphasizes both single?tenant net?leased investments and multi?tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.

The company’s primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.