Gladstone Commercial (NASDAQ:GOOD) CFO Gary Gerson Acquires 8,550 Shares of Company Stock

Gladstone Commercial Corporation (NASDAQ:GOOD) CFO Gary Gerson bought 8,550 shares of the business’s stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $10.09 per share, for a total transaction of $86,269.50. Following the acquisition, the chief financial officer directly owned 32,025 shares of the company’s stock, valued at approximately $323,132.25. The trade was a 36.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Gladstone Commercial Stock Down 1.7%

Shares of NASDAQ GOOD opened at $10.06 on Wednesday. The firm’s fifty day moving average is $12.26 and its 200 day moving average is $12.34. Gladstone Commercial Corporation has a 52 week low of $10.02 and a 52 week high of $13.28. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 5.82. The company has a market cap of $488.71 million, a price-to-earnings ratio of 77.39 and a beta of 1.09.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.15). Gladstone Commercial had a net margin of 10.81% and a return on equity of 11.58%. The firm had revenue of $42.42 million for the quarter, compared to analysts’ expectations of $42.56 million. On average, equities research analysts expect that Gladstone Commercial Corporation will post 1.42 earnings per share for the current year.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date is Monday, December 21st. Gladstone Commercial’s dividend payout ratio is currently 923.08%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC boosted its stake in shares of Gladstone Commercial by 6,177.8% during the 3rd quarter. Fortitude Family Office LLC now owns 2,260 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 2,224 shares in the last quarter. CX Institutional purchased a new position in shares of Gladstone Commercial during the third quarter valued at about $29,000. GAMMA Investing LLC raised its stake in Gladstone Commercial by 218.3% in the third quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 2,216 shares in the last quarter. Trust Co. of Vermont bought a new position in Gladstone Commercial in the second quarter worth about $40,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Gladstone Commercial in the first quarter worth about $46,000. 45.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOD shares. B. Riley Financial reissued a “neutral” rating and issued a $11.50 target price (down from $12.50) on shares of Gladstone Commercial in a research note on Wednesday, November 4th. Weiss Ratings lowered Gladstone Commercial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Wall Street Zen cut Gladstone Commercial from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Huntington started coverage on Gladstone Commercial in a research report on Tuesday, November 3rd. They issued a “hold” rating on the stock. Four analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Gladstone Commercial has a consensus rating of “Hold” and an average target price of $12.25.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that owns and leases commercial properties in the United States. Its portfolio includes industrial and office properties, with an emphasis on properties leased to business tenants under long-term agreements. The company generally uses net leases, under which tenants may be responsible for certain property expenses such as taxes, insurance and maintenance. Gladstone Commercial was founded in 2003 and is externally managed by an affiliate of Gladstone Management Corporation.