Gladstone Commercial (NASDAQ:GOOD) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

GOOD has been the subject of several other reports. B. Riley reissued a “neutral” rating and issued a $15.00 price target (up 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 report on Friday, October 4th.

Gladstone Commercial Trading Up 0.6 %

Shares of GOOD stock opened at $17.44 on Monday. The business’s 50 day moving average is $16.59 and its two-hundred day moving average is $15.36. Gladstone Commercial has a twelve month low of $11.89 and a twelve month high of $17.88. The company has a market capitalization of $765.96 million, a P/E ratio of 87.20, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10.

Gladstone Commercial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors 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 6.88%. Gladstone Commercial’s dividend payout ratio is presently 600.00%.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds have recently bought and sold shares of the stock. Ballentine Partners LLC increased its position in Gladstone Commercial by 5.3% during the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 714 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Gladstone Commercial by 4.8% during the second quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 867 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Gladstone Commercial by 7.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 1,185 shares in the last quarter. Bank of New York Mellon Corp increased its position in Gladstone Commercial by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock worth $2,277,000 after buying an additional 1,327 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Gladstone Commercial by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 1,609 shares in the last quarter. Hedge funds and other institutional investors 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.