Gladstone Commercial (NASDAQ:GOOD) Hits New 12-Month High at $15.38

Gladstone Commercial Co. (NASDAQ:GOOD) shares hit a new 52-week high during trading on Friday . The stock traded as high as $15.38 and last traded at $15.31, with a volume of 17378 shares trading hands. The stock had previously closed at $15.22.

Wall Street Analysts Forecast Growth

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

Gladstone Commercial Stock Up 0.5 %

The company has a market cap of $612.43 million, a P/E ratio of -80.47, a price-to-earnings-growth ratio of 1.83 and a beta of 1.19. The stock has a fifty day moving average price of $14.59 and a two-hundred day moving average price of $13.93. The company has a debt-to-equity ratio of 4.85, a current ratio of 3.67 and a quick ratio of 3.67.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The firm had revenue of $37.06 million for the quarter, compared to the consensus estimate of $35.89 million. Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. During the same period in the previous year, the business earned $0.41 earnings per share. On average, research analysts expect that Gladstone Commercial Co. will post 1.36 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, September 20th. This represents a $1.20 annualized dividend and a dividend yield of 7.85%. Gladstone Commercial’s payout ratio is -631.58%.

Institutional Trading of Gladstone Commercial

Institutional investors have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new position in shares of Gladstone Commercial in the first quarter valued at approximately $1,107,000. GSA Capital Partners LLP lifted its holdings in shares of Gladstone Commercial by 436.0% during the 1st 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 last quarter. Vanguard Group Inc. grew its position in Gladstone Commercial by 1.3% in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Gladstone Commercial by 2.5% in the 2nd 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 in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Gladstone Commercial in the fourth quarter worth approximately $406,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

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.