Gladstone Commercial (NASDAQ:GOOD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other brokerages have also weighed in on GOOD. Boenning Scattergood started coverage on Gladstone Commercial in a report on Tuesday, July 10th. They issued an “outperform” rating and a $21.00 price objective on the stock. BidaskClub lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. B. Riley increased their price objective on Gladstone Commercial from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. ValuEngine lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Wedbush lowered Gladstone Commercial from an “outperform” rating to a “neutral” rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Gladstone Commercial has a consensus rating of “Hold” and an average price target of $21.13.
Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.41). The firm had revenue of $26.59 million during the quarter, compared to analyst estimates of $26.49 million. Gladstone Commercial had a net margin of 7.85% and a return on equity of 3.08%. Research analysts anticipate that Gladstone Commercial will post 1.59 EPS for the current year.
A number of institutional investors have recently bought and sold shares of GOOD. SG Americas Securities LLC acquired a new stake in Gladstone Commercial during the second quarter worth about $124,000. Great West Life Assurance Co. Can grew its holdings in Gladstone Commercial by 83.3% during the second quarter. Great West Life Assurance Co. Can now owns 7,817 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 3,553 shares during the period. State of Alaska Department of Revenue acquired a new stake in Gladstone Commercial during the third quarter worth about $171,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Gladstone Commercial during the second quarter worth about $327,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Gladstone Commercial during the second quarter worth about $436,000. 53.96% of the stock is currently owned by hedge funds and other institutional investors.
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 July 2018,Gladstone Commercial has paid 162 consecutive monthly cash distributions on its common stock.
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