Gladstone Commercial (NASDAQ:GOOD) Downgraded to Hold Rating by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. B. Riley reissued 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. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $17.52 on Monday. The company has a 50 day moving average price of $16.53 and a 200-day moving average price of $15.33. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.88. The firm has a market capitalization of $769.48 million, a PE ratio of 87.60, a P/E/G ratio of 2.05 and a beta of 1.21. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.85%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is currently 600.00%.

Hedge Funds Weigh In On Gladstone Commercial

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Gladstone Commercial in the second quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 2,885 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Gladstone Commercial during the second quarter valued at $127,000. Atomi Financial Group Inc. bought a new position in Gladstone Commercial during the second quarter valued at $158,000. Finally, American Century Companies Inc. increased its position in Gladstone Commercial by 21.8% during the second quarter. American Century Companies Inc. now owns 12,337 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 2,210 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

About Gladstone Commercial

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.