Canaccord Genuity Group Upgrades Gladstone Commercial (NASDAQ:GOOD) to Strong-Buy

Canaccord Genuity Group upgraded shares of Gladstone Commercial (NASDAQ:GOOD) to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports.

Separately, StockNews.com downgraded Gladstone Commercial from a buy rating to a hold rating in a research report on Wednesday, August 7th.

Gladstone Commercial Stock Performance

GOOD opened at $16.00 on Friday. The company has a market cap of $640.86 million, a price-to-earnings ratio of -84.21, a PEG ratio of 1.91 and a beta of 1.21. Gladstone Commercial has a 52-week low of $11.40 and a 52-week high of $16.43. The firm’s fifty day simple moving average is $15.27 and its two-hundred day simple moving average is $14.47. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95.

Gladstone Commercial (NASDAQ:GOOD) last issued its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The company had revenue of $37.06 million during the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same period last year, the business earned $0.41 earnings per share. Equities analysts anticipate that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Gladstone Commercial by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after purchasing an additional 53,802 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Gladstone Commercial by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock valued at $20,122,000 after purchasing an additional 34,400 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Gladstone Commercial by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 567,878 shares of the real estate investment trust’s stock worth $8,103,000 after acquiring an additional 14,452 shares during the last quarter. LSV Asset Management increased its stake in Gladstone Commercial by 1.5% in the second quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock valued at $4,679,000 after purchasing an additional 4,800 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of 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 worth $2,218,000 after acquiring an additional 18,587 shares during the last quarter. 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 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.