Gladstone Commercial (NASDAQ:GOOD) Sets New 52-Week High at $16.43

Gladstone Commercial Co. (NASDAQ:GOOD) reached a new 52-week high during 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.

Wall Street Analysts Forecast Growth

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

Gladstone Commercial Trading Down 1.5 %

The stock has a market cap of $637.66 million, a PE ratio of -85.05, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21. The company’s 50-day moving average price is $14.99 and its 200 day moving average price is $14.23. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter last year, the firm posted $0.41 earnings per share. On average, sell-side analysts forecast that Gladstone Commercial Co. will post 1.38 EPS for the current fiscal year.

Gladstone Commercial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.10 dividend. The ex-dividend date is Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.54%. Gladstone Commercial’s payout ratio is presently -631.58%.

Institutional Trading of Gladstone Commercial

Institutional investors and hedge funds have recently bought and sold shares of the business. Freestone Capital Holdings LLC purchased a new stake in shares of Gladstone Commercial during the first quarter worth $1,107,000. GSA Capital Partners LLP raised its position in Gladstone Commercial by 436.0% in the 1st quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock valued at $1,302,000 after purchasing an additional 76,499 shares in the last quarter. Vanguard Group Inc. raised its position in Gladstone Commercial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock valued at $55,999,000 after purchasing an additional 53,802 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Gladstone Commercial in the 1st quarter valued at about $113,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Gladstone Commercial by 68.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 2,828 shares in the last quarter. 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.