Gladstone Commercial (NASDAQ:GOOD) Sets New 1-Year High at $16.43

Gladstone Commercial Co. (NASDAQ:GOOD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.43 and last traded at $16.36, with a volume of 156540 shares. The stock had previously closed at $16.22.

Analyst Upgrades and Downgrades

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

Gladstone Commercial Trading Up 0.3 %

The stock has a market cap of $651.68 million, a PE ratio of -84.95, a PEG ratio of 1.86 and a beta of 1.21. The company’s fifty day moving average is $14.92 and its 200-day moving average is $14.20. The company has a debt-to-equity ratio of 4.95, a current ratio of 3.29 and a quick ratio of 3.29.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data 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). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter in the previous year, the business posted $0.41 EPS. On average, analysts predict that Gladstone Commercial Co. will post 1.38 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a $0.10 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.20 annualized dividend and a yield of 7.38%. Gladstone Commercial’s dividend payout ratio is presently -631.58%.

Hedge Funds Weigh In On Gladstone Commercial

Institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC grew its position in Gladstone Commercial by 5.3% during the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 714 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Gladstone Commercial by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock valued at $272,000 after acquiring an additional 867 shares during the period. Victory Capital Management Inc. increased its stake in shares of Gladstone Commercial by 1.8% in the 4th quarter. Victory Capital Management Inc. now owns 58,028 shares of the real estate investment trust’s stock valued at $768,000 after purchasing an additional 1,003 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Gladstone Commercial by 7.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 1,185 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Gladstone Commercial by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock worth $2,277,000 after purchasing an additional 1,327 shares during the period. 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.