Gladstone Commercial (NASDAQ:GOOD) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other research firms also recently issued reports on GOOD. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley reiterated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $16.93 on Tuesday. 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 company’s fifty day moving average price is $16.69 and its two-hundred day moving average price is $15.46. The firm has a market capitalization of $743.55 million, a P/E ratio of 84.65, a P/E/G ratio of 1.97 and a beta of 1.24. Gladstone Commercial has a 12 month low of $11.89 and a 12 month high of $17.88.

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is currently 600.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ballentine Partners LLC lifted its holdings in Gladstone Commercial by 5.3% in the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 714 shares during the last quarter. Daiwa Securities Group Inc. raised its position 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 purchasing an additional 867 shares during the period. Bank of New York Mellon Corp boosted its position in Gladstone Commercial by 0.8% during the 2nd 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 purchasing an additional 1,327 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Gladstone Commercial by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 1,609 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased 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 worth $229,000 after buying an additional 1,795 shares during the period. 45.51% of the stock is currently owned by 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.