Gladstone Commercial (NASDAQ:GOOD) Sets New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOD. Canaccord Genuity Group raised Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley reissued a “neutral” rating and set a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of Gladstone Commercial from a “hold” rating to a “buy” rating in a report on Thursday, November 21st.

Gladstone Commercial Trading Up 0.9 %

The firm has a 50 day moving average price of $16.37 and a two-hundred day moving average price of $15.23. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The company has a market cap of $769.90 million, a price-to-earnings ratio of 86.90, a PEG ratio of 1.99 and a beta of 1.21.

Gladstone Commercial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is 600.00%.

Institutional Investors Weigh In On Gladstone Commercial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in shares of Gladstone Commercial during the second quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,885 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Gladstone Commercial during the second quarter worth $127,000. Atomi Financial Group Inc. bought a new position in shares of Gladstone Commercial in the second quarter valued at $158,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Gladstone Commercial by 20.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,861 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 2,380 shares during the last quarter. 45.51% of the stock is owned by institutional investors.

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.