Gladstone Commercial (NASDAQ:GOOD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a buy rating in a research note released on Thursday morning.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley reaffirmed a “neutral” rating and issued a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

Gladstone Commercial Stock Performance

NASDAQ:GOOD opened at $17.09 on Thursday. 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 firm has a market cap of $750.59 million, a price-to-earnings ratio of 85.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.21. The firm’s fifty day moving average price is $16.35 and its 200 day moving average price is $15.21. Gladstone Commercial has a 1-year low of $11.89 and a 1-year high of $17.53.

Gladstone Commercial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.20 annualized dividend and a dividend yield of 7.02%. Gladstone Commercial’s payout ratio is currently 600.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC raised its stake in shares of Gladstone Commercial by 5.3% during the 2nd quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 714 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Gladstone Commercial by 4.8% in the second quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 867 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Gladstone Commercial by 7.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 1,185 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Gladstone Commercial by 0.8% during 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Gladstone Commercial by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 1,609 shares in the last quarter. 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.