Gladstone Commercial (NASDAQ:GOOD) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a buy rating in a research note released on Friday.

Separately, Alliance Global Partners began coverage on Gladstone Commercial in a research note on Monday, March 18th. They set a buy rating and a $15.50 price objective for the company.

Gladstone Commercial Price Performance

Shares of GOOD stock opened at $14.27 on Friday. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $15.04. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 4.85. The stock has a fifty day simple moving average of $14.11 and a two-hundred day simple moving average of $13.46. The stock has a market capitalization of $571.51 million, a price-to-earnings ratio of -75.11, a P/E/G ratio of 1.76 and a beta of 1.17.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.33). Gladstone Commercial had a return on equity of 3.19% and a net margin of 3.60%. The business had revenue of $35.72 million for the quarter, compared to the consensus estimate of $36.41 million. On average, analysts predict that Gladstone Commercial will post 1.36 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.41%. Gladstone Commercial’s dividend payout ratio (DPR) is currently -631.58%.

Institutional Investors Weigh In On Gladstone Commercial

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Gladstone Commercial by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock valued at $55,999,000 after purchasing an additional 53,802 shares during the period. Invesco Ltd. boosted its holdings in shares of Gladstone Commercial by 2.3% in the 3rd quarter. Invesco Ltd. now owns 771,704 shares of the real estate investment trust’s stock valued at $9,384,000 after acquiring an additional 17,436 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Gladstone Commercial by 2,656.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock worth $6,995,000 after purchasing an additional 509,133 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Gladstone Commercial by 28.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock valued at $2,566,000 after purchasing an additional 42,404 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Gladstone Commercial by 13.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 160,270 shares of the real estate investment trust’s stock valued at $2,218,000 after purchasing an additional 18,587 shares during the last quarter. 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.