Gladstone Commercial (NASDAQ:GOOD) Sets New 1-Year High at $15.41

Gladstone Commercial Co. (NASDAQ:GOOD)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.41 and last traded at $15.26, with a volume of 72097 shares traded. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Gladstone Commercial Trading Down 0.4 %

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 company has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $14.01. The firm has a market cap of $606.42 million, a PE ratio of -79.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.19.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The firm had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, sell-side analysts forecast that Gladstone Commercial Co. will post 1.38 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 7.93%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Commercial’s dividend payout ratio is currently -631.58%.

Hedge Funds Weigh In On Gladstone Commercial

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Gladstone Commercial during the 2nd quarter valued at about $33,000. Central Pacific Bank Trust Division purchased a new position in shares of Gladstone Commercial in the 1st quarter valued at about $64,000. PNC Financial Services Group Inc. boosted its stake in shares of Gladstone Commercial by 68.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 2,828 shares during the period. Evermay Wealth Management LLC boosted its stake in shares of Gladstone Commercial by 82.4% in the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 3,475 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Gladstone Commercial in the first quarter valued at approximately $113,000. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

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.