Gladstone Commercial (NASDAQ:GOOD) Stock Passes Above Two Hundred Day Moving Average of $12.57

Gladstone Commercial Co. (NASDAQ:GOOD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.57 and traded as high as $13.37. Gladstone Commercial shares last traded at $13.21, with a volume of 246,681 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Gladstone Commercial in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.83.

Gladstone Commercial Trading Down 1.2 %

The company has a debt-to-equity ratio of 4.10, a quick ratio of 4.92 and a current ratio of 4.92. The company has a market capitalization of $527.32 million, a price-to-earnings ratio of -50.81, a P/E/G ratio of 1.43 and a beta of 1.12. The business’s 50-day simple moving average is $13.24 and its 200-day simple moving average is $12.57.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.55). Gladstone Commercial had a net margin of 1.40% and a return on equity of 1.07%. The business had revenue of $38.66 million for the quarter, compared to analyst estimates of $37.20 million. On average, research analysts expect that Gladstone Commercial Co. will post 1.5 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 20th. This represents a $1.20 dividend on an annualized basis and a yield of 9.08%. Gladstone Commercial’s payout ratio is presently -461.54%.

Institutional Trading of Gladstone Commercial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Portside Wealth Group LLC bought a new stake in shares of Gladstone Commercial in the 2nd quarter valued at about $256,000. Wells Fargo & Company MN increased its stake in shares of Gladstone Commercial by 59.3% in the 2nd quarter. Wells Fargo & Company MN now owns 21,910 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 8,160 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Gladstone Commercial by 217.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 225,326 shares of the real estate investment trust’s stock valued at $2,787,000 after acquiring an additional 154,235 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Gladstone Commercial by 11.0% in the 2nd quarter. Royal Bank of Canada now owns 33,272 shares of the real estate investment trust’s stock valued at $411,000 after acquiring an additional 3,301 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Gladstone Commercial by 16.7% in the 2nd quarter. Stifel Financial Corp now owns 76,549 shares of the real estate investment trust’s stock valued at $947,000 after acquiring an additional 10,941 shares during the last quarter. 46.33% of the stock is owned by institutional investors.

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.