Gladstone Commercial (NASDAQ:GOOD) Sets New 12-Month High – Time to Buy?

Gladstone Commercial Co. (NASDAQ:GOOD)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.53 and last traded at $17.51, with a volume of 77397 shares. The stock had previously closed at $17.38.

Analysts Set New Price Targets

GOOD has been the topic of several analyst reports. StockNews.com upgraded shares of Gladstone Commercial from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reiterated 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.

Gladstone Commercial Stock Up 0.9 %

The company has a market cap of $775.63 million, a P/E ratio of 88.30, a price-to-earnings-growth ratio of 2.03 and a beta of 1.21. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. The business’s fifty day moving average is $16.43 and its two-hundred day moving average is $15.27.

Gladstone Commercial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.10 per share. 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 dividend payout ratio is presently 600.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GOOD. International Assets Investment Management LLC bought a new position in shares of Gladstone Commercial during the 2nd quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Gladstone Commercial by 68.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 2,885 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Gladstone Commercial during the 2nd quarter valued at about $127,000. Atomi Financial Group Inc. bought a new stake in shares of Gladstone Commercial in the 2nd quarter valued at about $158,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Gladstone Commercial by 20.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,861 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 2,380 shares during the period. 45.51% of the stock is currently owned by hedge funds and other 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. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.