Gladstone Commercial (NASDAQ:GOOD – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, “Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Its goal is to pay our shareholders dividends on a monthly basis. Its objective is to increase the amount of dividends paid out each year. “
Other analysts also recently issued reports about the stock. B. Riley lowered their price objective on shares of Gladstone Commercial from $25.00 to $23.00 in a report on Monday, May 9th. StockNews.com began coverage on shares of Gladstone Commercial in a research report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gladstone Commercial has an average rating of “Hold” and a consensus target price of $24.50.
Shares of Gladstone Commercial stock traded up $0.17 during mid-day trading on Tuesday, reaching $19.50. 166,097 shares of the stock were exchanged, compared to its average volume of 243,662. Gladstone Commercial has a fifty-two week low of $18.23 and a fifty-two week high of $26.13. The firm has a 50-day simple moving average of $21.25 and a 200 day simple moving average of $22.35. The company has a current ratio of 8.87, a quick ratio of 8.87 and a debt-to-equity ratio of 3.29. The company has a market cap of $753.66 million, a price-to-earnings ratio of -649.78, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.
Gladstone Commercial (NASDAQ:GOOD – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.39). The firm had revenue of $35.53 million for the quarter, compared to the consensus estimate of $37.08 million. Gladstone Commercial had a return on equity of 6.37% and a net margin of 9.46%. On average, research analysts predict that Gladstone Commercial will post 1.61 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of GOOD. Guggenheim Capital LLC bought a new position in shares of Gladstone Commercial in the 1st quarter worth $221,000. Goldman Sachs Group Inc. lifted its position in Gladstone Commercial by 49.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 89,363 shares of the real estate investment trust’s stock valued at $1,968,000 after acquiring an additional 29,731 shares during the period. State Street Corp lifted its position in Gladstone Commercial by 7.0% during the 1st quarter. State Street Corp now owns 930,230 shares of the real estate investment trust’s stock valued at $20,484,000 after acquiring an additional 60,559 shares during the period. Samalin Investment Counsel LLC increased its stake in Gladstone Commercial by 7.1% during the 1st quarter. Samalin Investment Counsel LLC now owns 27,740 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 1,849 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of Gladstone Commercial in the first quarter worth approximately $307,000. Institutional investors and hedge funds own 49.60% of the company’s stock.
About Gladstone Commercial (Get Rating)
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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.
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