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

Gladstone Commercial Co. (NASDAQ:GOOD)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.72 and traded as high as $16.17. Gladstone Commercial shares last traded at $16.01, with a volume of 208,053 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, B. Riley restated a “neutral” rating and set a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th.

Gladstone Commercial Stock Performance

The business has a 50 day moving average price of $16.70 and a two-hundred day moving average price of $15.74. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. The company has a market cap of $704.02 million, a P/E ratio of 80.15, a price-to-earnings-growth ratio of 1.96 and a beta of 1.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GOOD. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gladstone Commercial by 68.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 2,885 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Gladstone Commercial during the second quarter valued at $127,000. American Century Companies Inc. raised its position in shares of Gladstone Commercial by 21.8% in the 2nd quarter. American Century Companies Inc. now owns 12,337 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 2,210 shares during the last quarter. Ballentine Partners LLC boosted its stake in Gladstone Commercial by 5.3% in the 2nd quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after purchasing an additional 714 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Gladstone Commercial during the 3rd quarter valued at about $226,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

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.