Gladstone Commercial Corp. Plans Monthly Dividend of $0.13 (GOOD)
Gladstone Commercial Corp. (NASDAQ:GOOD) announced a monthly dividend on Wednesday, October 12th. Investors of record on Tuesday, December 20th will be paid a dividend of 0.125 per share by the real estate investment trust on Friday, December 30th. This represents a $1.50 annualized dividend and a yield of 8.41%. The ex-dividend date is Friday, December 16th.
Shares of Gladstone Commercial Corp. (NASDAQ:GOOD) traded up 2.65% during midday trading on Wednesday, reaching $17.84. 138,073 shares of the company traded hands. The firm’s market capitalization is $402.88 million. The company has a 50-day moving average of $18.23 and a 200 day moving average of $17.38. Gladstone Commercial Corp. has a 12-month low of $12.00 and a 12-month high of $19.15.
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 the consensus estimate 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 forecast that Gladstone Commercial Corp. will post $1.55 earnings per share for the current year.
In other Gladstone Commercial Corp. news, Director Caren D. Merrick bought 2,816 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was bought at an average cost of $17.76 per share, with a total value of $50,012.16. Following the completion of the transaction, the director now directly owns 2,816 shares in the company, valued at approximately $50,012.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.36% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in 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 valued at $145,000 after buying an additional 5,999 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Gladstone Commercial Corp. during the second quarter valued at $169,000. Summit Securities Group LLC purchased a new position in Gladstone Commercial Corp. during the second quarter valued at $189,000. American International Group Inc. boosted its position in Gladstone Commercial Corp. by 5.9% in the second quarter. American International Group Inc. now owns 12,864 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 722 shares during the period. Finally, KCG Holdings Inc. purchased a new position in Gladstone Commercial Corp. during the second quarter valued at $248,000. 39.76% of the stock is owned by institutional investors.
Several research firms have weighed in on GOOD. Zacks Investment Research raised shares of Gladstone Commercial Corp. from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, September 2nd. TheStreet raised shares of Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.
About Gladstone Commercial Corp.
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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