Gladstone Commercial (NASDAQ:GOOD) Sets New 1-Year High – Still a Buy?

Gladstone Commercial Co. (NASDAQ:GOOD)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $17.53 and last traded at $17.51, with a volume of 77397 shares. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

GOOD has been the subject of several analyst reports. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. B. Riley restated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Finally, StockNews.com raised shares of Gladstone Commercial from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st.

Gladstone Commercial Trading Up 0.9 %

The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The business’s 50-day moving average is $16.37 and its two-hundred day moving average is $15.23. The firm has a market cap of $769.90 million, a P/E ratio of 86.90, a P/E/G ratio of 1.99 and a beta of 1.21.

Gladstone Commercial Dividend Announcement

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 given 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 (DPR) is currently 600.00%.

Hedge Funds Weigh In On Gladstone Commercial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC lifted 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 acquiring an additional 714 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Gladstone Commercial by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock valued at $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 1st 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 during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 boosted its position in shares of Gladstone Commercial by 7.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 1,609 shares during the period. 45.51% of the stock is owned by 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.