Gladstone Commercial (NASDAQ:GOOD) Stock Price Passes Above 200 Day Moving Average of $13.44

Shares of Gladstone Commercial Co. (NASDAQ:GOOD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.44 and traded as high as $13.87. Gladstone Commercial shares last traded at $13.86, with a volume of 213,104 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. 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 firm has a market capitalization of $555.09 million, a P/E ratio of -72.95, a PEG ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 4.85, a quick ratio of 3.67 and a current ratio of 3.67. The firm has a 50-day moving average of $14.05 and a 200-day moving average of $13.44.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.33). The firm had revenue of $35.72 million for the quarter, compared to the consensus estimate of $36.41 million. Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. As a group, analysts predict that Gladstone Commercial Co. will post 1.36 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.66%. Gladstone Commercial’s payout ratio is -631.58%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $6,995,000 after purchasing an additional 509,133 shares in the last quarter. Freestone Capital Holdings LLC purchased a new stake in shares of Gladstone Commercial in the 1st quarter worth $1,107,000. GSA Capital Partners LLP increased its stake in shares of 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 worth $1,302,000 after purchasing an additional 76,499 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 worth $55,999,000 after purchasing an additional 53,802 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of 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 purchasing an additional 42,404 shares in the last quarter. 45.51% of the stock is owned by 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.