StockNews.com cut shares of Gladstone Commercial (NASDAQ:GOOD - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning.
A number of other analysts also recently commented on the stock. B. Riley reissued a "neutral" rating and set 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 Gladstone Commercial to a "strong-buy" rating in a research note on Friday, October 4th.
View Our Latest Report on GOOD
Gladstone Commercial Price Performance
NASDAQ:GOOD traded down $0.60 during trading hours on Wednesday, hitting $16.07. The company's stock had a trading volume of 376,989 shares, compared to its average volume of 244,654. The company has a market capitalization of $705.78 million, a PE ratio of 80.35, a PEG ratio of 1.97 and a beta of 1.24. Gladstone Commercial has a 52-week low of $11.89 and a 52-week high of $17.88. The business's 50-day moving average is $16.73 and its two-hundred day moving average is $15.54. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54.
Gladstone Commercial Dividend Announcement
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.20 annualized dividend and a yield of 7.47%. Gladstone Commercial's dividend payout ratio (DPR) is currently 600.00%.
Institutional Trading of Gladstone Commercial
Several institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC acquired a new position in shares of Gladstone Commercial during the 3rd quarter worth approximately $2,306,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Gladstone Commercial by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust's stock worth $7,168,000 after acquiring an additional 117,988 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of Gladstone Commercial in the third quarter valued at $947,000. Barclays PLC boosted its stake in shares of Gladstone Commercial by 323.4% during the third quarter. Barclays PLC now owns 62,132 shares of the real estate investment trust's stock valued at $1,009,000 after acquiring an additional 47,456 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Gladstone Commercial during the 3rd quarter worth about $612,000. Hedge funds and other institutional investors own 45.51% of the company's stock.
Gladstone Commercial Company Profile
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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.
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