Gladstone Commercial (NASDAQ:GOOD) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a buy rating to a hold rating in a report published on Wednesday.

A number of other brokerages have also issued reports on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. 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 research note on Thursday, October 10th.

Gladstone Commercial Price Performance

Shares of GOOD opened at $16.07 on Wednesday. The business has a 50-day simple moving average of $16.73 and a two-hundred day simple moving average of $15.54. Gladstone Commercial has a 12-month low of $11.89 and a 12-month high of $17.88. The stock has a market cap of $705.78 million, a PE ratio of 80.35, a PEG ratio of 1.97 and a beta of 1.24. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in shares of Gladstone Commercial in the 3rd quarter valued at $2,306,000. Charles Schwab Investment Management Inc. boosted its position in Gladstone Commercial by 36.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock valued at $7,168,000 after acquiring an additional 117,988 shares during the last quarter. Martingale Asset Management L P acquired a new stake in Gladstone Commercial during the 3rd quarter worth about $947,000. Barclays PLC grew its holdings in Gladstone Commercial by 323.4% during the 3rd quarter. Barclays PLC now owns 62,132 shares of the real estate investment trust’s stock worth $1,009,000 after acquiring an additional 47,456 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Gladstone Commercial in the 3rd quarter worth about $612,000. 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.