Gladstone Commercial (NASDAQ:GOOD) Hits New 52-Week High at $14.80

Gladstone Commercial Co. (NASDAQ:GOOD) reached a new 52-week high on Tuesday . The stock traded as high as $14.80 and last traded at $14.65, with a volume of 158260 shares traded. The stock had previously closed at $13.60.

Analysts Set New Price Targets

Separately, Alliance Global Partners assumed coverage on Gladstone Commercial in a research report on Monday, March 18th. They issued a “buy” rating and a $15.50 price objective on the stock.

Gladstone Commercial Price Performance

The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 4.79. The stock has a market cap of $599.87 million, a PE ratio of -78.32, a P/E/G ratio of 1.64 and a beta of 1.14. The business has a fifty day simple moving average of $13.38 and a two-hundred day simple moving average of $13.00.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). Gladstone Commercial had a return on equity of 2.36% and a net margin of 2.82%. The business had revenue of $35.91 million during the quarter, compared to analysts’ expectations of $36.80 million. Research analysts forecast that Gladstone Commercial Co. will post 1.38 earnings per share for the current year.

Gladstone Commercial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.06%. Gladstone Commercial’s payout ratio is currently -631.58%.

Institutional Trading of Gladstone Commercial

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Gladstone Commercial by 2,656.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock valued at $6,995,000 after acquiring an additional 509,133 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Gladstone Commercial by 436.0% during the first quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock valued at $1,302,000 after buying an additional 76,499 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Gladstone Commercial by 28.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock worth $2,566,000 after buying an additional 42,404 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Gladstone Commercial in the 4th quarter worth about $406,000. Finally, Valeo Financial Advisors LLC bought a new position in Gladstone Commercial during the 4th quarter valued at about $310,000. 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.