Equities research analysts expect that Gladstone Commercial Co. (NASDAQ:GOOD) will announce sales of $27.32 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Gladstone Commercial’s earnings, with estimates ranging from $27.14 million to $27.70 million. Gladstone Commercial reported sales of $25.25 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The firm is expected to report its next quarterly earnings results on Wednesday, February 13th.
On average, analysts expect that Gladstone Commercial will report full year sales of $106.95 million for the current fiscal year, with estimates ranging from $106.68 million to $107.50 million. For the next fiscal year, analysts anticipate that the business will post sales of $115.96 million, with estimates ranging from $112.01 million to $118.66 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Gladstone Commercial.
Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.02. The company had revenue of $26.59 million for the quarter, compared to analyst estimates of $26.86 million. Gladstone Commercial had a net margin of 7.96% and a return on equity of 3.26%.
GOOD has been the topic of several recent analyst reports. BidaskClub lowered shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. DA Davidson reiterated a “buy” rating on shares of Gladstone Commercial in a report on Tuesday, July 31st. Boenning Scattergood set a $21.00 price objective on shares of Gladstone Commercial and gave the stock a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Wedbush lowered shares of Gladstone Commercial from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.13.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Gladstone Commercial by 1.1% in the third quarter. BlackRock Inc. now owns 2,184,005 shares of the real estate investment trust’s stock valued at $41,823,000 after buying an additional 24,547 shares during the period. Martingale Asset Management L P raised its holdings in Gladstone Commercial by 62.6% in the third quarter. Martingale Asset Management L P now owns 107,513 shares of the real estate investment trust’s stock valued at $2,059,000 after buying an additional 41,401 shares during the period. Bank of New York Mellon Corp raised its holdings in Gladstone Commercial by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 235,076 shares of the real estate investment trust’s stock valued at $4,503,000 after buying an additional 2,593 shares during the period. Prudential Financial Inc. raised its holdings in Gladstone Commercial by 14.2% in the third quarter. Prudential Financial Inc. now owns 104,767 shares of the real estate investment trust’s stock valued at $2,007,000 after buying an additional 13,019 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Gladstone Commercial by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 158,939 shares of the real estate investment trust’s stock valued at $3,044,000 after buying an additional 11,368 shares during the period. Institutional investors and hedge funds own 54.04% of the company’s stock.
Shares of GOOD stock traded down $0.48 during trading hours on Friday, hitting $19.39. 76,405 shares of the company were exchanged, compared to its average volume of 121,416. The firm has a market cap of $557.72 million, a P/E ratio of 12.76, a PEG ratio of 2.00 and a beta of 0.71. Gladstone Commercial has a 1 year low of $16.78 and a 1 year high of $23.29. The company has a debt-to-equity ratio of 2.19, a current ratio of 13.78 and a quick ratio of 13.78.
The business also recently disclosed a monthly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.125 per share. The ex-dividend date is Monday, November 19th. This represents a $1.50 annualized dividend and a dividend yield of 7.74%. Gladstone Commercial’s payout ratio is currently 98.68%.
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 July 2018,Gladstone Commercial has paid 162 consecutive monthly cash distributions on its common stock.
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