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

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

A number of other analysts also recently issued reports on GOOD. B. Riley reissued a “neutral” rating and issued a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Canaccord Genuity Group raised Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th.

Gladstone Commercial Stock Performance

Shares of NASDAQ GOOD opened at $16.07 on Wednesday. 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 stock’s fifty day moving average price is $16.73 and its two-hundred day moving average price is $15.54. Gladstone Commercial has a one year low of $11.89 and a one year high of $17.88. The firm has a market cap of $705.78 million, a price-to-earnings ratio of 80.35, a P/E/G ratio of 1.97 and a beta of 1.24.

Gladstone Commercial Announces Dividend

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

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ballentine Partners LLC raised 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 valued at $203,000 after purchasing an additional 714 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Gladstone Commercial by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 867 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Gladstone Commercial by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock valued at $2,277,000 after buying an additional 1,327 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Gladstone Commercial by 12.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,039 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Gladstone Commercial by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 58,177 shares of the real estate investment trust’s stock worth $945,000 after acquiring an additional 2,209 shares in the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

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.