Gladstone Commercial (NASDAQ:GOOD) Hits New 52-Week Low – Time to Sell?

Gladstone Commercial Corporation (NASDAQ:GOOD)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $12.18 and last traded at $12.21, with a volume of 522193 shares. The stock had previously closed at $12.31.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Gladstone Commercial currently has an average rating of “Buy” and an average price target of $15.00.

Gladstone Commercial Price Performance

The company has a debt-to-equity ratio of 4.50, a quick ratio of 2.91 and a current ratio of 2.91. The business has a 50 day moving average price of $13.07 and a 200-day moving average price of $13.84. The company has a market capitalization of $571.76 million, a price-to-earnings ratio of 34.11, a P/E/G ratio of 1.38 and a beta of 1.11.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Gladstone Commercial had a return on equity of 16.37% and a net margin of 18.67%.The business had revenue of $39.53 million during the quarter, compared to the consensus estimate of $38.32 million. Research analysts predict that Gladstone Commercial Corporation will post 1.45 EPS for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Monday, July 21st. Gladstone Commercial’s payout ratio is presently 333.33%.

Institutional Investors Weigh In On Gladstone Commercial

A number of large investors have recently bought and sold shares of GOOD. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Gladstone Commercial by 1.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 49,456 shares of the real estate investment trust’s stock valued at $709,000 after purchasing an additional 849 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Gladstone Commercial by 4.6% during the first quarter. State of Alaska Department of Revenue now owns 21,170 shares of the real estate investment trust’s stock worth $316,000 after buying an additional 924 shares during the last quarter. Tritonpoint Wealth LLC increased its holdings in Gladstone Commercial by 7.4% during the second quarter. Tritonpoint Wealth LLC now owns 14,535 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. raised its position in Gladstone Commercial by 2.3% in the second quarter. Russell Investments Group Ltd. now owns 46,681 shares of the real estate investment trust’s stock worth $669,000 after acquiring an additional 1,055 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Gladstone Commercial by 6.9% in the second quarter. Evergreen Capital Management LLC now owns 16,942 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,096 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

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.