Gladstone Commercial Corporation (GOOD) Receives $22.50 Consensus Target Price from Analysts

Gladstone Commercial Corporation (NASDAQ:GOOD) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.33.

GOOD has been the topic of several recent research reports. Zacks Investment Research raised shares of Gladstone Commercial Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday. Janney Montgomery Scott initiated coverage on shares of Gladstone Commercial Corporation in a research note on Friday, September 8th. They set a “buy” rating on the stock. DA Davidson initiated coverage on shares of Gladstone Commercial Corporation in a research note on Tuesday, July 25th. They set a “buy” rating and a $24.00 target price on the stock. Canaccord Genuity initiated coverage on shares of Gladstone Commercial Corporation in a research note on Tuesday, July 18th. They set a “hold” rating and a $22.00 target price on the stock. Finally, BidaskClub downgraded shares of Gladstone Commercial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.

Shares of Gladstone Commercial Corporation (NASDAQ:GOOD) traded up 0.44% during trading on Friday, hitting $22.61. 110,878 shares of the stock were exchanged. Gladstone Commercial Corporation has a one year low of $16.02 and a one year high of $23.35. The stock’s 50 day moving average price is $21.84 and its 200-day moving average price is $21.36. The company’s market cap is $624.99 million.

The firm also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be paid a dividend of $0.125 per share. This represents a $1.50 annualized dividend and a yield of 6.63%. The ex-dividend date is Friday, November 17th. Gladstone Commercial Corporation’s payout ratio is currently -1,250.00%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Gladstone Commercial Corporation by 11.7% in the 2nd quarter. Creative Planning now owns 4,928 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 517 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Gladstone Commercial Corporation by 99.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,032 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 2,511 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Gladstone Commercial Corporation by 4.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,190 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 350 shares during the last quarter. Bank of America Corp DE increased its position in shares of Gladstone Commercial Corporation by 44.0% in the 1st quarter. Bank of America Corp DE now owns 12,831 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 3,918 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Gladstone Commercial Corporation by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,488 shares of the real estate investment trust’s stock valued at $279,000 after purchasing an additional 910 shares during the last quarter. 49.07% of the stock is currently owned by hedge funds and other institutional investors.

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Gladstone Commercial Corporation Company Profile

Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.

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