Gladstone Commercial (NASDAQ:GOOD) Rating Lowered to “Hold” at StockNews.com

Gladstone Commercial (NASDAQ:GOOD) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other analysts have also issued reports on the company. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley restated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th.

Gladstone Commercial Stock Down 0.4 %

GOOD stock opened at $16.01 on Wednesday. The company’s 50 day simple moving average is $16.73 and its 200-day simple moving average is $15.54. Gladstone Commercial has a 52-week low of $11.89 and a 52-week high of $17.88. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The firm has a market capitalization of $703.14 million, a P/E ratio of 80.05, a P/E/G ratio of 1.97 and a beta of 1.24.

Institutional Trading of Gladstone Commercial

Several hedge funds and other institutional investors have recently modified their holdings of GOOD. Ballentine Partners LLC increased its position 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 during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Gladstone Commercial by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 867 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Gladstone Commercial by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock worth $2,277,000 after buying an additional 1,327 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Gladstone Commercial by 12.6% during the second quarter. The Manufacturers Life Insurance Company now owns 16,039 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Gladstone Commercial by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 58,177 shares of the real estate investment trust’s stock valued at $945,000 after acquiring an additional 2,209 shares during the last quarter. 45.51% of the stock is currently 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.