Gladstone Commercial (NASDAQ:GOOD) Hits New 52-Week High – Here’s What Happened

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

Analysts Set New Price Targets

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

Gladstone Commercial Stock Up 0.9 %

The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. The company has a market capitalization of $775.63 million, a price-to-earnings ratio of 88.30, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21. The company has a 50-day moving average of $16.43 and a 200-day moving average of $15.27.

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 given a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.80%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s payout ratio is currently 600.00%.

Institutional Trading of Gladstone Commercial

Several large investors have recently bought and sold shares of GOOD. International Assets Investment Management LLC purchased a new position in shares of Gladstone Commercial in the second quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Gladstone Commercial by 68.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 2,885 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Gladstone Commercial in the 2nd quarter worth $127,000. Atomi Financial Group Inc. acquired a new stake in Gladstone Commercial during the 2nd quarter worth about $158,000. Finally, American Century Companies Inc. grew its stake in Gladstone Commercial by 21.8% during the 2nd quarter. American Century Companies Inc. now owns 12,337 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 2,210 shares during the last quarter. Hedge funds and other 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.