FY2024 EPS Estimates for Gladstone Commercial Co. Cut by Analyst (NASDAQ:GOOD)

Gladstone Commercial Co. (NASDAQ:GOOD) – Investment analysts at B. Riley decreased their FY2024 EPS estimates for Gladstone Commercial in a research note issued to investors on Thursday, April 18th. B. Riley analyst J. Massocca now expects that the real estate investment trust will post earnings per share of $1.32 for the year, down from their previous estimate of $1.33. The consensus estimate for Gladstone Commercial’s current full-year earnings is $1.38 per share.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $35.91 million for the quarter, compared to the consensus estimate of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%.

Separately, Alliance Global Partners assumed coverage on shares of Gladstone Commercial in a research report on Monday, March 18th. They set a “buy” rating and a $15.50 price target for the company.

Gladstone Commercial Price Performance

Shares of GOOD opened at $13.39 on Monday. The company has a market capitalization of $539.75 million, a P/E ratio of -60.86, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 4.79. The firm has a 50 day moving average of $13.07 and a 200 day moving average of $12.88. Gladstone Commercial has a twelve month low of $10.84 and a twelve month high of $14.14.

Institutional Investors Weigh In On Gladstone Commercial

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gladstone Commercial by 2,656.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock worth $6,995,000 after acquiring an additional 509,133 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Gladstone Commercial by 28.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock worth $2,566,000 after acquiring an additional 42,404 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Gladstone Commercial during the 4th quarter worth $406,000. Valeo Financial Advisors LLC purchased a new position in shares of Gladstone Commercial during the 4th quarter worth $310,000. Finally, Merit Financial Group LLC purchased a new position in shares of Gladstone Commercial during the 3rd quarter worth $244,000. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 19th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date is Tuesday, June 18th. Gladstone Commercial’s dividend payout ratio (DPR) is presently -545.45%.

About Gladstone Commercial

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.