Shares of Gladstone Commercial Co. (NASDAQ:GOOD) have received an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.33.
GOOD has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Gladstone Commercial from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, January 12th. TheStreet downgraded shares of Gladstone Commercial from a “c” rating to a “d+” rating in a research report on Tuesday, March 27th. ValuEngine downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. B. Riley set a $19.00 price objective on shares of Gladstone Commercial and gave the stock a “hold” rating in a research report on Thursday, February 15th. Finally, Hilliard Lyons upgraded shares of Gladstone Commercial from a “neutral” rating to a “long” rating in a research report on Friday, February 16th.
GOOD stock opened at $17.25 on Thursday. Gladstone Commercial has a 12 month low of $16.78 and a 12 month high of $23.29. The firm has a market capitalization of $489.39, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.96.
The business also recently declared a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Wednesday, June 20th will be paid a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 19th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.70%. Gladstone Commercial’s dividend payout ratio (DPR) is presently 98.68%.
In related news, CEO David Gladstone purchased 17,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average cost of $17.50 per share, with a total value of $297,500.00. Following the purchase, the chief executive officer now directly owns 466,564 shares in the company, valued at approximately $8,164,870. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have bought 21,200 shares of company stock worth $371,596. Corporate insiders own 1.98% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. QS Investors LLC acquired a new stake in Gladstone Commercial in the 4th quarter valued at about $133,000. Teacher Retirement System of Texas acquired a new stake in Gladstone Commercial in the 4th quarter valued at about $201,000. CAPROCK Group Inc. acquired a new stake in Gladstone Commercial in the 4th quarter valued at about $202,000. MetLife Investment Advisors LLC acquired a new stake in Gladstone Commercial in the 4th quarter valued at about $279,000. Finally, Goldman Sachs Group Inc. grew its stake in Gladstone Commercial by 39.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 31,677 shares of the real estate investment trust’s stock valued at $667,000 after acquiring an additional 8,930 shares during the last quarter. 54.63% of the stock is currently owned by hedge funds and other institutional investors.
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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 2018, Gladstone Commercial has paid 156 consecutive monthly cash distributions on its common stock.
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