ValuEngine lowered shares of Gladstone Commercial Corporation (NASDAQ:GOOD) from a strong-buy rating to a buy rating in a report published on Monday.
Other research analysts have also recently issued reports about the stock. Canaccord Genuity cut their price target on shares of Gladstone Commercial Corporation from $22.00 to $21.00 and set a hold rating on the stock in a report on Wednesday, August 2nd. Ladenburg Thalmann Financial Services restated a hold rating on shares of Gladstone Commercial Corporation in a report on Thursday, August 17th. BidaskClub raised shares of Gladstone Commercial Corporation from a sell rating to a hold rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of Gladstone Commercial Corporation from a sell rating to a hold rating in a research report on Tuesday, August 15th. Finally, Janney Montgomery Scott initiated coverage on shares of Gladstone Commercial Corporation in a research report on Friday, September 8th. They issued a buy rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Gladstone Commercial Corporation has a consensus rating of Hold and an average target price of $23.33.
Gladstone Commercial Corporation (GOOD) traded down $0.05 during trading on Monday, reaching $22.48. 120,200 shares of the company traded hands, compared to its average volume of 178,129. Gladstone Commercial Corporation has a 1-year low of $18.02 and a 1-year high of $23.35. The stock has a market capitalization of $624.62, a PE ratio of 14.92, a PEG ratio of 2.46 and a beta of 0.87. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.78.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a $0.125 dividend. This represents a $1.50 annualized dividend and a yield of 6.67%. The ex-dividend date is Friday, November 17th. Gladstone Commercial Corporation’s dividend payout ratio is -3,750.00%.
A number of hedge funds have recently made changes to their positions in GOOD. Schwab Charles Investment Management Inc. raised its position in Gladstone Commercial Corporation by 517.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 282,822 shares of the real estate investment trust’s stock worth $6,299,000 after acquiring an additional 237,022 shares during the period. Chicago Equity Partners LLC bought a new stake in Gladstone Commercial Corporation in the second quarter worth about $2,654,000. Vanguard Group Inc. raised its position in Gladstone Commercial Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 2,910,745 shares of the real estate investment trust’s stock worth $63,425,000 after acquiring an additional 81,609 shares during the period. Renaissance Technologies LLC raised its position in Gladstone Commercial Corporation by 4.0% in the second quarter. Renaissance Technologies LLC now owns 2,050,300 shares of the real estate investment trust’s stock worth $44,676,000 after acquiring an additional 79,100 shares during the period. Finally, Allianz Asset Management GmbH bought a new stake in Gladstone Commercial Corporation in the third quarter worth about $1,722,000. 50.97% of the stock is currently owned by institutional investors and hedge funds.
About Gladstone Commercial Corporation
Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.
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