Gladstone Commercial (NASDAQ:GOOD) Sets New 52-Week High - Should You Buy?

Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.47 and last traded at $16.47, with a volume of 14011 shares trading hands. The stock had previously closed at $16.31.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. B. Riley reaffirmed a "neutral" rating and set a $15.00 price target (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. StockNews.com cut shares of Gladstone Commercial from a "buy" rating to a "hold" rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group upgraded shares of Gladstone Commercial to a "strong-buy" rating in a research note on Friday, October 4th.

Gladstone Commercial Trading Up 1.2 %

The firm has a market capitalization of $660.89 million, a P/E ratio of -86.84, a P/E/G ratio of 1.94 and a beta of 1.21. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The stock has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $14.60.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.37). Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. The business had revenue of $37.06 million during the quarter, compared to analysts' expectations of $35.89 million. During the same period in the previous year, the business posted $0.41 EPS. On average, equities research analysts forecast that Gladstone Commercial Co. will post 1.38 EPS for the current fiscal year.

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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date is Friday, December 20th. Gladstone Commercial's payout ratio is -631.58%.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors have recently bought and sold shares of GOOD. International Assets Investment Management LLC purchased a new stake in Gladstone Commercial in the second quarter worth about $33,000. Central Pacific Bank Trust Division bought a new stake in Gladstone Commercial during the 1st quarter worth approximately $64,000. PNC Financial Services Group Inc. lifted its holdings in 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 valued at $92,000 after purchasing an additional 2,828 shares in the last quarter. Evermay Wealth Management LLC lifted its holdings in Gladstone Commercial by 82.4% during the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust's stock valued at $106,000 after purchasing an additional 3,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Gladstone Commercial in the first quarter worth approximately $113,000. 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.