Gladstone Commercial Corp. (GOOD) to Issue Monthly Dividend of $0.13 on October 31st
Gladstone Commercial Corp. (NASDAQ:GOOD) declared a monthly dividend on Wednesday, October 12th. Investors of record on Friday, October 21st will be given a dividend of 0.125 per share by the real estate investment trust on Monday, October 31st. This represents a $1.50 annualized dividend and a yield of 8.37%. The ex-dividend date is Wednesday, October 19th.
Gladstone Commercial Corp. (NASDAQ:GOOD) opened at 17.93 on Tuesday. The stock’s market cap is $404.91 million. Gladstone Commercial Corp. has a 52-week low of $12.00 and a 52-week high of $19.15. The company has a 50-day moving average price of $18.23 and a 200 day moving average price of $17.43.
Gladstone Commercial Corp. (NASDAQ:GOOD) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. Gladstone Commercial Corp. had a net margin of 4.89% and a return on equity of 1.83%. On average, analysts expect that Gladstone Commercial Corp. will post $1.55 earnings per share for the current year.
In related news, Director Caren D. Merrick purchased 2,816 shares of Gladstone Commercial Corp. stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $17.76 per share, for a total transaction of $50,012.16. Following the transaction, the director now directly owns 2,816 shares in the company, valued at $50,012.16. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 period. Alliancebernstein L.P. bought a new position in Gladstone Commercial Corp. during the second quarter valued at $169,000. Summit Securities Group LLC bought a new position in Gladstone Commercial Corp. during the second quarter valued at $189,000. American International Group Inc. increased 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. bought a new position in Gladstone Commercial Corp. during the second quarter valued at $248,000. Hedge funds and other institutional investors own 39.67% of the company’s stock.
A number of research analysts have weighed in on GOOD shares. TheStreet upgraded shares of Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Zacks Investment Research upgraded shares of Gladstone Commercial Corp. from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, September 2nd.
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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