Insider Buying: Gladstone Commercial (NASDAQ:GOOD) CFO Acquires 7,600 Shares of Stock

Gladstone Commercial Corporation (NASDAQ:GOOD) CFO Gary Gerson bought 7,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $11.05 per share, for a total transaction of $83,980.00. Following the transaction, the chief financial officer owned 23,200 shares in the company, valued at $256,360. This trade represents a 48.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Gary Gerson also recently made the following trade(s):

• On Tuesday, November 11th, Gary Gerson purchased 300 shares of Gladstone Commercial stock. The shares were acquired at an average price of $11.05 per share, with a total value of $3,315.00.
• On Thursday, November 6th, Gary Gerson acquired 500 shares of Gladstone Commercial stock. The shares were bought at an average cost of $10.65 per share, for a total transaction of $5,325.00.

Gladstone Commercial Trading Down 0.7%

Shares of NASDAQ:GOOD traded down $0.08 during trading on Wednesday, reaching $11.17. 378,454 shares of the company traded hands, compared to its average volume of 418,898. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 4.50. Gladstone Commercial Corporation has a 52-week low of $10.58 and a 52-week high of $17.88. The firm has a market capitalization of $540.40 million, a price-to-earnings ratio of 31.07, a P/E/G ratio of 1.26 and a beta of 1.11. The business’s fifty day moving average is $11.99 and its 200-day moving average is $13.24.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.04). The firm had revenue of $40.84 million during the quarter, compared to analysts’ expectations of $40.10 million. Gladstone Commercial had a return on equity of 16.37% and a net margin of 18.67%. As a group, analysts forecast that Gladstone Commercial Corporation will post 1.45 EPS for the current year.

Gladstone Commercial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Monday, December 22nd. Gladstone Commercial’s dividend payout ratio is currently 666.67%.

Institutional Investors Weigh In On Gladstone Commercial

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Gladstone Commercial by 2.2% during the third quarter. Vanguard Group Inc. now owns 4,802,602 shares of the real estate investment trust’s stock valued at $59,168,000 after acquiring an additional 102,561 shares in the last quarter. Geode Capital Management LLC lifted its position in Gladstone Commercial by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,219,393 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 41,774 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Gladstone Commercial by 22.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 815,997 shares of the real estate investment trust’s stock valued at $12,224,000 after purchasing an additional 148,031 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Gladstone Commercial by 10.7% in the 2nd quarter. Invesco Ltd. now owns 694,748 shares of the real estate investment trust’s stock worth $9,956,000 after purchasing an additional 67,289 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Gladstone Commercial by 54.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 562,671 shares of the real estate investment trust’s stock worth $8,063,000 after purchasing an additional 198,624 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOD shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a research report on Wednesday, October 8th. Wall Street Zen lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Loop Capital set a $13.00 target price on shares of Gladstone Commercial in a report on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Gladstone Commercial from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $13.00.

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.