Gladstone Commercial (NASDAQ:GOOD) Reaches New 1-Year High – Here’s Why

Gladstone Commercial Co. (NASDAQ:GOOD) hit a new 52-week high during trading on Wednesday . The stock traded as high as $16.47 and last traded at $16.47, with a volume of 14011 shares trading hands. The stock had previously closed at $16.31.

Analyst Ratings Changes

Several research analysts recently issued reports on GOOD shares. B. Riley reissued a “neutral” rating and set a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. Finally, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Gladstone Commercial Trading Down 0.6 %

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 company’s 50-day moving average is $15.54 and its 200 day moving average is $14.61. The company has a market cap of $656.89 million, a price-to-earnings ratio of -86.32, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

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 analysts’ consensus estimates of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The business had revenue of $37.06 million during the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter last year, the firm earned $0.41 earnings per share. Research analysts predict that Gladstone Commercial Co. will post 1.38 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $1.20 annualized dividend and a dividend yield of 7.32%. Gladstone Commercial’s payout ratio is -631.58%.

Institutional Investors Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently bought and sold shares of GOOD. Freestone Capital Holdings LLC purchased a new stake in shares of Gladstone Commercial in the 1st quarter valued at approximately $1,107,000. GSA Capital Partners LLP grew its position in Gladstone Commercial by 436.0% in the first quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock worth $1,302,000 after acquiring an additional 76,499 shares during the period. Vanguard Group Inc. increased its stake 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 acquiring an additional 53,802 shares during the last quarter. Renaissance Technologies LLC raised its position in Gladstone Commercial by 2.5% in the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock valued at $20,122,000 after purchasing an additional 34,400 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Gladstone Commercial by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 160,270 shares of the real estate investment trust’s stock valued at $2,218,000 after purchasing an additional 18,587 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

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.