Gladstone Commercial (NASDAQ:GOOD) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.52 and traded as high as $12.72. Gladstone Commercial shares last traded at $12.60, with a volume of 390,502 shares trading hands.

Wall Street Analysts Forecast Growth

GOOD has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Huntington started coverage on shares of Gladstone Commercial in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 price target for the company. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.83.

Gladstone Commercial Trading Down 1.6%

The company has a debt-to-equity ratio of 5.43, a current ratio of 3.72 and a quick ratio of 3.72. The stock has a 50-day moving average price of $12.88 and a two-hundred day moving average price of $12.52. The stock has a market cap of $608.51 million, a PE ratio of 48.35 and a beta of 1.08.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Gladstone Commercial had a return on equity of 14.61% and a net margin of 14.55%.The firm had revenue of $43.99 million during the quarter, compared to the consensus estimate of $42.18 million. Sell-side analysts forecast that Gladstone Commercial Corporation will post 1.39 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a c) annualized dividend and a dividend yield of 9.5%. Gladstone Commercial’s payout ratio is currently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds have recently added to or reduced their stakes in GOOD. BlackRock Inc. purchased a new stake in shares of Gladstone Commercial in the second quarter worth approximately $55,101,000. Dimensional Fund Advisors LP grew its holdings in Gladstone Commercial by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 657,267 shares of the real estate investment trust’s stock worth $7,512,000 after acquiring an additional 21,502 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Gladstone Commercial during the second quarter valued at approximately $2,648,000. Quantinno Capital Management LP increased its holdings in shares of Gladstone Commercial by 24.7% in the 1st quarter. Quantinno Capital Management LP now owns 182,555 shares of the real estate investment trust’s stock valued at $2,087,000 after acquiring an additional 36,156 shares during the period. Finally, Swiss National Bank raised its holdings in Gladstone Commercial by 4.2% in the first quarter. Swiss National Bank now owns 95,700 shares of the real estate investment trust’s stock worth $1,094,000 after purchasing an additional 3,900 shares in the last quarter. 45.51% of the stock is currently owned by institutional investors.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that owns, acquires, and manages primarily single-tenant and select multi-tenant commercial properties. Its portfolio has historically included industrial, office, medical office, and other commercial real estate leased to businesses under long-term agreements.

The company focuses on properties that can generate recurring rental income and typically seeks tenants and assets with durable operating characteristics.