$36.35 Million in Sales Expected for Gladstone Commercial Co. (NASDAQ:GOOD) This Quarter
Equities analysts expect Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) to report $36.35 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Gladstone Commercial’s earnings. The lowest sales estimate is $36.31 million and the highest is $36.39 million. Gladstone Commercial reported sales of $33.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The company is expected to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Gladstone Commercial will report full-year sales of $147.13 million for the current year, with estimates ranging from $147.02 million to $147.24 million. For the next fiscal year, analysts forecast that the business will report sales of $156.47 million, with estimates ranging from $153.06 million to $159.88 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Gladstone Commercial.
Gladstone Commercial (NASDAQ:GOOD – Get Rating) last issued its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.39). The firm had revenue of $35.53 million during the quarter, compared to the consensus estimate of $37.08 million. Gladstone Commercial had a return on equity of 6.37% and a net margin of 9.46%.
Several analysts have recently issued reports on the stock. B. Riley decreased their target price on shares of Gladstone Commercial from $25.00 to $23.00 in a research report on Monday, May 9th. Zacks Investment Research lowered shares of Gladstone Commercial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 24th. Finally, StockNews.com began coverage on shares of Gladstone Commercial in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.50.
A number of hedge funds have recently modified their holdings of GOOD. Renaissance Technologies LLC grew its stake in Gladstone Commercial by 6.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,207,120 shares of the real estate investment trust’s stock worth $48,601,000 after acquiring an additional 133,700 shares in the last quarter. EAM Global Investors LLC bought a new position in shares of Gladstone Commercial during the fourth quarter valued at approximately $2,344,000. Invesco Ltd. boosted its stake in shares of Gladstone Commercial by 11.8% during the first quarter. Invesco Ltd. now owns 643,931 shares of the real estate investment trust’s stock valued at $14,180,000 after purchasing an additional 67,714 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Gladstone Commercial by 192.3% during the third quarter. Thrivent Financial for Lutherans now owns 102,927 shares of the real estate investment trust’s stock valued at $2,165,000 after purchasing an additional 67,711 shares in the last quarter. Finally, XML Financial LLC boosted its stake in shares of Gladstone Commercial by 19.9% during the first quarter. XML Financial LLC now owns 400,127 shares of the real estate investment trust’s stock valued at $8,811,000 after purchasing an additional 66,371 shares in the last quarter. Institutional investors and hedge funds own 49.60% of the company’s stock.
Shares of NASDAQ GOOD opened at $20.05 on Friday. The firm’s 50-day moving average price is $21.02 and its 200-day moving average price is $22.21. The company has a current ratio of 8.87, a quick ratio of 8.87 and a debt-to-equity ratio of 3.29. The stock has a market capitalization of $774.91 million, a price-to-earnings ratio of -668.11, a P/E/G ratio of 2.17 and a beta of 1.03. Gladstone Commercial has a 12-month low of $18.23 and a 12-month high of $26.13.
The business also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 22nd will be paid a $0.1254 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $1.50 dividend on an annualized basis and a yield of 7.51%. Gladstone Commercial’s dividend payout ratio is currently -4,998.33%.
About Gladstone Commercial (Get Rating)
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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.
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