Gladstone Commercial (NASDAQ:GOOD) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Gladstone Commercial shares crossed above their 200-day moving average, reaching $12.86 and last trading at $12.82 versus the $12.58 average.
• Analysts maintain a consensus “Hold” rating on GOOD, with an average price target of $12.83.
• The REIT exceeded quarterly expectations, reporting $0.11 in EPS versus a $0.04 estimate and $43.99 million in revenue; institutional investors own 45.51% of the stock.

Gladstone Commercial Corporation (NASDAQ:GOOD - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $12.58 and traded as high as $12.86. Gladstone Commercial shares last traded at $12.82, with a volume of 271,116 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on GOOD shares. Huntington started coverage on shares of Gladstone Commercial in a research report on Wednesday, July 15th. They issued a "market perform" rating and a $13.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $12.83.

Gladstone Commercial Price Performance

The company's 50-day simple moving average is $12.83 and its 200 day simple moving average is $12.58. 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 stock has a market capitalization of $620.59 million, a price-to-earnings ratio of 49.31 and a beta of 1.07.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly 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. The company had revenue of $43.99 million during the quarter, compared to analysts' expectations of $42.18 million. Gladstone Commercial had a return on equity of 14.61% and a net margin of 14.55%. Equities research analysts forecast that Gladstone Commercial Corporation will post 1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Gladstone Commercial in the 2nd quarter worth approximately $55,101,000. Dimensional Fund Advisors LP grew its holdings in Gladstone Commercial by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 657,267 shares of the real estate investment trust's stock valued at $7,512,000 after purchasing an additional 21,502 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Gladstone Commercial in the 2nd quarter valued at $2,648,000. Quantinno Capital Management LP grew its position in shares of Gladstone Commercial by 24.7% in 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 purchasing an additional 36,156 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Gladstone Commercial by 4.2% during the 1st quarter. Swiss National Bank now owns 95,700 shares of the real estate investment trust's stock worth $1,094,000 after purchasing an additional 3,900 shares during the last quarter. 45.51% of the stock is owned by institutional investors.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that acquires, owns and manages income-producing commercial real estate in the United States. The company primarily invests in office and industrial properties, including single-tenant and select multi-tenant facilities leased to business and government tenants.

Gladstone Commercial generally leases its properties under long-term arrangements and seeks to generate rental income through a diversified portfolio of commercial real estate.

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