B. Riley Boosts Earnings Estimates for Gladstone Commercial

Gladstone Commercial Co. (NASDAQ:GOOD) – Investment analysts at B. Riley lifted their FY2024 EPS estimates for shares of Gladstone Commercial in a report released on Thursday, November 14th. B. Riley analyst J. Massocca now forecasts that the real estate investment trust will post earnings per share of $1.43 for the year, up from their previous estimate of $1.40. B. Riley has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Gladstone Commercial’s current full-year earnings is $1.40 per share. B. Riley also issued estimates for Gladstone Commercial’s Q4 2024 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.37 EPS, FY2025 earnings at $1.45 EPS and FY2026 earnings at $1.45 EPS.

Several other brokerages have also issued reports on GOOD. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

Gladstone Commercial Stock Down 1.6 %

Shares of NASDAQ GOOD opened at $16.79 on Friday. The firm has a market capitalization of $737.42 million, a PE ratio of 83.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.53. The firm’s 50-day moving average is $16.14 and its 200-day moving average is $15.04.

Hedge Funds Weigh In On Gladstone Commercial

Institutional investors have recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC bought a new position in Gladstone Commercial during the first quarter worth $1,107,000. Vanguard Group Inc. boosted its position in Gladstone Commercial by 1.3% during the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after purchasing an additional 53,802 shares during the period. Renaissance Technologies LLC boosted its position in Gladstone Commercial by 2.5% during the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock worth $20,122,000 after purchasing an additional 34,400 shares during the period. International Assets Investment Management LLC boosted its position in Gladstone Commercial by 1,524.0% during the third quarter. International Assets Investment Management LLC now owns 37,644 shares of the real estate investment trust’s stock worth $611,000 after purchasing an additional 35,326 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Gladstone Commercial during the first quarter worth $113,000. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Commercial Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $1.20 dividend on an annualized basis and a yield of 7.15%. Gladstone Commercial’s payout ratio is 600.00%.

About Gladstone Commercial

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.