Zacks Research Upgrades Gladstone Commercial (NASDAQ:GOOD) to Hold

Gladstone Commercial (NASDAQ:GOOD) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

GOOD has been the topic of several other research reports. B. Riley reiterated a “neutral” rating and issued a $11.00 price target (down previously from $12.00) on shares of Gladstone Commercial in a report on Monday, November 24th. Loop Capital set a $13.00 target price on shares of Gladstone Commercial in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Gladstone Commercial in a research report on Monday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Gladstone Commercial has a consensus rating of “Hold” and an average target price of $12.00.

Gladstone Commercial Stock Down 2.4%

Shares of NASDAQ:GOOD opened at $10.38 on Monday. The stock’s 50-day moving average is $11.04 and its 200 day moving average is $12.55. The company has a market cap of $502.39 million, a PE ratio of 57.67 and a beta of 1.10. The company has a debt-to-equity ratio of 4.58, a current ratio of 4.31 and a quick ratio of 4.31. Gladstone Commercial has a 1 year low of $10.36 and a 1 year high of $16.63.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). Gladstone Commercial had a return on equity of 11.77% and a net margin of 13.59%.The business had revenue of $40.84 million during the quarter, compared to the consensus estimate of $40.10 million. Sell-side analysts anticipate that Gladstone Commercial will post 1.45 EPS for the current year.

Insider Activity

In other Gladstone Commercial news, CFO Gary Gerson purchased 7,600 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average cost of $11.05 per share, with a total value of $83,980.00. Following the transaction, the chief financial officer directly owned 23,200 shares in the company, valued at approximately $256,360. The trade was a 48.72% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 8,500 shares of company stock valued at $93,751. 1.40% of the stock is owned by company insiders.

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. Public Employees Retirement System of Ohio bought a new stake in shares of Gladstone Commercial in the 2nd quarter worth approximately $945,000. Allianz Asset Management GmbH purchased a new position in Gladstone Commercial during the second quarter valued at $378,000. Exchange Traded Concepts LLC boosted its holdings in Gladstone Commercial by 21.4% in the second quarter. Exchange Traded Concepts LLC now owns 112,201 shares of the real estate investment trust’s stock worth $1,608,000 after acquiring an additional 19,742 shares in the last quarter. Nuveen LLC bought a new stake in Gladstone Commercial in the first quarter worth $1,668,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Gladstone Commercial in the first quarter worth $288,000. Hedge funds and other 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 focuses on the acquisition and long?term ownership of industrial and office properties throughout the United States. The company’s portfolio emphasizes both single?tenant net?leased investments and multi?tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.

The company’s primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.