Gladstone Commercial (NASDAQ:GOOD) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Gladstone Commercial shares crossed above their 200-day moving average, reaching $12.72 before closing at $12.60, compared with the $12.52 average.
• Analysts maintain a cautious outlook: all four analysts rate the stock Hold, with a consensus price target of $12.83.
• The REIT exceeded quarterly earnings expectations, reporting $0.11 per share versus the $0.04 consensus, and announced a $0.10 monthly dividend, representing an indicated 9.5% yield.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.52 and traded as high as $12.72. Gladstone Commercial shares last traded at $12.60, with a volume of 390,502 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOD. Huntington started coverage on Gladstone Commercial in a report on Wednesday, July 15th. They set a "market perform" rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Gladstone Commercial in a research report on Monday, August 24th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.83.

Gladstone Commercial Trading Down 0.1%

The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43. The firm's 50 day simple moving average is $12.88 and its two-hundred day simple moving average is $12.52. The stock has a market capitalization of $609.97 million, a P/E ratio of 48.46 and a beta of 1.08.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.07. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. The company had revenue of $43.99 million for the quarter, compared to analyst estimates of $42.18 million. As a group, analysts forecast that Gladstone Commercial Corporation will post 1.39 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Monday, September 21st. Gladstone Commercial's dividend payout ratio (DPR) is currently 461.54%.

Institutional Investors Weigh In On Gladstone Commercial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Gladstone Commercial during the 2nd quarter valued at $55,101,000. Dimensional Fund Advisors LP raised its position in shares of Gladstone Commercial by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 657,267 shares of the real estate investment trust's stock worth $7,512,000 after buying an additional 21,502 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Gladstone Commercial during the second quarter valued at $2,648,000. Quantinno Capital Management LP boosted its stake in Gladstone Commercial by 24.7% during the first quarter. Quantinno Capital Management LP now owns 182,555 shares of the real estate investment trust's stock valued at $2,087,000 after buying an additional 36,156 shares during the period. Finally, Swiss National Bank grew its position in Gladstone Commercial by 4.2% during the first quarter. Swiss National Bank now owns 95,700 shares of the real estate investment trust's stock worth $1,094,000 after buying an additional 3,900 shares in the last quarter. Institutional investors own 45.51% of the company's stock.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that owns, acquires, and manages primarily single-tenant and select multi-tenant commercial properties. Its portfolio has historically included industrial, office, medical office, and other commercial real estate leased to businesses under long-term agreements.

The company focuses on properties that can generate recurring rental income and typically seeks tenants and assets with durable operating characteristics.

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