Gladstone Commercial (NASDAQ:GOOD) Issues Quarterly Earnings Results

Gladstone Commercial (NASDAQ:GOOD) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.32, Zacks reports. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The firm had revenue of $42.42 million during the quarter, compared to analysts’ expectations of $42.56 million.

Gladstone Commercial Stock Down 0.4%

Shares of NASDAQ:GOOD traded down $0.05 during midday trading on Tuesday, reaching $11.53. 505,428 shares of the company were exchanged, compared to its average volume of 469,527. Gladstone Commercial has a fifty-two week low of $10.33 and a fifty-two week high of $13.28. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43. The stock has a fifty day simple moving average of $12.56 and a two-hundred day simple moving average of $12.37. The firm has a market cap of $558.14 million, a PE ratio of 44.35 and a beta of 1.07.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $1.20 annualized dividend and a dividend yield of 10.4%. Gladstone Commercial’s dividend payout ratio is currently 461.54%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOD. Huntington started coverage on shares of Gladstone Commercial in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a report on Monday, August 24th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.83.

About Gladstone Commercial

Gladstone Commercial Corporation (NASDAQ: GOOD) is a real estate investment trust (REIT) that owns, acquires, and manages income-producing commercial properties in the United States. The company primarily focuses on office and industrial real estate, including business parks, office buildings, manufacturing facilities, distribution properties, and other commercial assets.

Gladstone Commercial generally leases its properties to businesses under long-term agreements, with the goal of generating recurring rental income.