Gladstone Commercial (NASDAQ:GOOD) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Gladstone Commercial (NASDAQ:GOOD) from a buy rating to a hold rating in a report released on Wednesday morning.

GOOD has been the topic of a number of other reports. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. B. Riley reissued a “neutral” rating and set a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

Gladstone Commercial Trading Up 0.2 %

Shares of NASDAQ:GOOD opened at $16.04 on Wednesday. The company has a market capitalization of $704.46 million, a P/E ratio of 80.20, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The business’s 50 day simple moving average is $16.73 and its 200 day simple moving average is $15.55. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88.

Gladstone Commercial Announces Dividend

The business 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 $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.48%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio (DPR) is presently 600.00%.

Hedge Funds Weigh In On Gladstone Commercial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Gladstone Commercial during the 2nd quarter valued at about $33,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gladstone Commercial by 68.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 2,885 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Gladstone Commercial in the 2nd quarter worth $127,000. Atomi Financial Group Inc. bought a new stake in Gladstone Commercial in the second quarter worth $158,000. Finally, American Century Companies Inc. boosted its position in Gladstone Commercial by 21.8% during the second quarter. American Century Companies Inc. now owns 12,337 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 2,210 shares during the period. 45.51% of the stock is currently 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.