Gladstone Commercial’s (GOOD) “Neutral” Rating Reiterated at B. Riley

B. Riley reiterated their neutral rating on shares of Gladstone Commercial (NASDAQ:GOOD) in a report released on Thursday morning, Benzinga reports. They currently have a $15.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $13.50.

GOOD has been the subject of a number of other research reports. StockNews.com cut Gladstone Commercial from a buy rating to a hold rating in a report on Wednesday, August 7th. Canaccord Genuity Group raised Gladstone Commercial to a strong-buy rating in a report on Friday, October 4th.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $16.10 on Thursday. The stock has a market cap of $644.87 million, a PE ratio of -84.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The business has a 50-day simple moving average of $15.38 and a 200-day simple moving average of $14.55. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95. Gladstone Commercial has a 52-week low of $11.40 and a 52-week high of $16.43.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The business had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same period in the previous year, the company posted $0.41 EPS. On average, equities analysts expect that Gladstone Commercial will post 1.38 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Wednesday, November 20th. Gladstone Commercial’s dividend payout ratio (DPR) is -631.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOOD. Vanguard Group Inc. increased its holdings in Gladstone Commercial by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock valued at $55,999,000 after buying an additional 53,802 shares during the last quarter. Renaissance Technologies LLC increased its position in Gladstone Commercial by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock valued at $20,122,000 after acquiring an additional 34,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Gladstone Commercial by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 567,878 shares of the real estate investment trust’s stock valued at $8,103,000 after purchasing an additional 14,452 shares in the last quarter. LSV Asset Management boosted its holdings in Gladstone Commercial by 1.5% in the 2nd quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock valued at $4,679,000 after purchasing an additional 4,800 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Gladstone Commercial by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 160,270 shares of the real estate investment trust’s stock valued at $2,218,000 after purchasing an additional 18,587 shares in the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Commercial Company Profile

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.