Gladstone Commercial (NASDAQ:GOOD) Reaches New 1-Year High at $15.52

Gladstone Commercial Co. (NASDAQ:GOOD) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $15.52 and last traded at $15.45, with a volume of 30033 shares. The stock had previously closed at $15.43.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Gladstone Commercial Trading Up 2.0 %

The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95. The firm has a market capitalization of $681.76 million, a PE ratio of -84.37, a PEG ratio of 1.86 and a beta of 1.21. The stock’s fifty day simple moving average is $14.85 and its 200 day simple moving average is $14.12.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). The company had revenue of $37.06 million during the quarter, compared to analysts’ expectations of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts predict that Gladstone Commercial Co. will post 1.38 earnings per share for the current year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.49%. Gladstone Commercial’s payout ratio is currently -631.58%.

Institutional Investors Weigh In On Gladstone Commercial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Gladstone Commercial in the second quarter worth $33,000. Central Pacific Bank Trust Division bought a new stake in Gladstone Commercial during the first quarter valued at about $64,000. PNC Financial Services Group Inc. lifted its position in shares of Gladstone Commercial by 68.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 2,828 shares in the last quarter. Evermay Wealth Management LLC boosted its stake in shares of Gladstone Commercial by 82.4% in the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 3,475 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Gladstone Commercial during the first quarter worth about $113,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

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.