StockNews.com Upgrades Gladstone Commercial (NASDAQ:GOOD) to “Buy”

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

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

Gladstone Commercial Stock Up 0.4 %

Shares of NASDAQ GOOD opened at $17.09 on Thursday. Gladstone Commercial has a 12-month low of $11.89 and a 12-month high of $17.53. The stock has a market cap of $750.59 million, a P/E ratio of 85.45, a PEG ratio of 2.01 and a beta of 1.21. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. The business’s fifty day simple moving average is $16.35 and its 200-day simple moving average is $15.21.

Gladstone Commercial Announces Dividend

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

Institutional Investors Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently made changes to their positions in GOOD. International Assets Investment Management LLC purchased a new position in Gladstone Commercial in the second quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gladstone Commercial by 68.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 2,885 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Gladstone Commercial in the second quarter valued at $127,000. Atomi Financial Group Inc. acquired a new position in Gladstone Commercial in the second quarter valued at $158,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Gladstone Commercial by 20.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,861 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 2,380 shares during the last quarter. Institutional investors and hedge funds own 45.51% of the company’s stock.

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.