Gladstone Commercial (NASDAQ:GOOD) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Gladstone Commercial Corporation (NASDAQ:GOOD)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.99 and traded as high as $12.90. Gladstone Commercial shares last traded at $12.53, with a volume of 607,765 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Gladstone Commercial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Gladstone Commercial presently has a consensus rating of “Hold” and an average target price of $12.75.

Gladstone Commercial Trading Down 1.5%

The company has a fifty day moving average of $12.52 and a 200-day moving average of $11.99. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 5.13. The company has a market capitalization of $606.58 million, a price-to-earnings ratio of 69.61 and a beta of 1.07.

Gladstone Commercial (NASDAQ:GOOD) last announced its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.30. The business had revenue of $41.91 million during the quarter, compared to analysts’ expectations of $42.94 million. Gladstone Commercial had a return on equity of 12.11% and a net margin of 12.74%. As a group, equities research analysts anticipate that Gladstone Commercial Corporation will post 1.41 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.10 dividend. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Tuesday, June 23rd. Gladstone Commercial’s dividend payout ratio is currently 666.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Gladstone Commercial by 56.8% in the third quarter. JPMorgan Chase & Co. now owns 336,791 shares of the real estate investment trust’s stock valued at $4,149,000 after buying an additional 122,047 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Gladstone Commercial by 700.1% in the fourth quarter. SG Americas Securities LLC now owns 69,383 shares of the real estate investment trust’s stock worth $740,000 after buying an additional 60,711 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in Gladstone Commercial by 17.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 265,494 shares of the real estate investment trust’s stock worth $2,833,000 after acquiring an additional 40,248 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in Gladstone Commercial by 104.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 33,511 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 17,084 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Gladstone Commercial by 16.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 138,476 shares of the real estate investment trust’s stock valued at $1,478,000 after acquiring an additional 19,734 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on the acquisition and long?term ownership of industrial and office properties throughout the United States. The company’s portfolio emphasizes both single?tenant net?leased investments and multi?tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.

The company’s primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.