Gladstone Commercial (NASDAQ:GOOD) Share Price Passes Above 200 Day Moving Average of $12.57

Gladstone Commercial Co. (NASDAQ:GOOD) passed 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 changing hands.

Analyst Upgrades and Downgrades

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

Gladstone Commercial Stock Performance

The company’s 50-day moving average price is $13.25 and its two-hundred day moving average price is $12.58. The company has a market capitalization of $530.51 million, a price-to-earnings ratio of -50.46, a PEG ratio of 1.43 and a beta of 1.12. The company has a debt-to-equity ratio of 4.10, a current ratio of 4.92 and a quick ratio of 4.92.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported ($0.19) 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 firm had revenue of $38.66 million for the quarter, compared to the consensus estimate of $37.20 million. On average, equities research analysts anticipate that Gladstone Commercial Co. will post 1.5 EPS 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. Investors of record on Thursday, September 21st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $1.20 annualized dividend and a yield of 9.03%. Gladstone Commercial’s dividend payout ratio is currently -461.54%.

Hedge Funds Weigh In On Gladstone Commercial

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Gladstone Commercial by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 3,878,891 shares of the real estate investment trust’s stock valued at $85,412,000 after acquiring an additional 33,911 shares during the period. BlackRock Inc. raised its holdings in shares of Gladstone Commercial by 18.9% during the second quarter. BlackRock Inc. now owns 3,282,405 shares of the real estate investment trust’s stock valued at $40,603,000 after purchasing an additional 522,242 shares during the period. Renaissance Technologies LLC boosted its position in shares of Gladstone Commercial by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,207,120 shares of the real estate investment trust’s stock worth $48,601,000 after purchasing an additional 133,700 shares in the last quarter. State Street Corp grew its stake in shares of Gladstone Commercial by 5.7% in the 2nd quarter. State Street Corp now owns 994,215 shares of the real estate investment trust’s stock valued at $12,298,000 after buying an additional 53,564 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Gladstone Commercial by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 921,253 shares of the real estate investment trust’s stock valued at $11,396,000 after buying an additional 52,871 shares during the period. 46.33% of the stock is owned by institutional investors and hedge funds.

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.