Gladstone Commercial (GOOD) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a buy rating to a hold rating in a report released on Wednesday morning.

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. “

Several other equities analysts also recently issued reports on GOOD. BidaskClub upgraded Gladstone Commercial from a sell rating to a hold rating in a research report on Thursday, October 11th. Boenning Scattergood began coverage on Gladstone Commercial in a research report on Tuesday, July 10th. They issued an outperform rating and a $21.00 target price for the company. ValuEngine upgraded Gladstone Commercial from a sell rating to a hold rating in a research report on Thursday, July 5th. TheStreet upgraded Gladstone Commercial from a d+ rating to a c- rating in a research report on Tuesday, July 3rd. Finally, Wedbush began coverage on Gladstone Commercial in a research report on Thursday, July 26th. They issued an outperform rating and a $21.50 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $21.13.

Shares of NASDAQ GOOD opened at $18.47 on Wednesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 6.93 and a quick ratio of 6.93. The company has a market cap of $531.14 million, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.94 and a beta of 0.80. Gladstone Commercial has a 12-month low of $16.78 and a 12-month high of $23.29.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.41). The business had revenue of $26.59 million for the quarter, compared to analyst estimates of $26.49 million. Gladstone Commercial had a return on equity of 3.08% and a net margin of 7.85%. On average, analysts predict that Gladstone Commercial will post 1.59 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Friday, October 19th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $1.50 dividend on an annualized basis and a yield of 8.12%. Gladstone Commercial’s dividend payout ratio (DPR) is 98.68%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Gladstone Commercial in the second quarter worth approximately $124,000. Great West Life Assurance Co. Can increased its holdings in shares of Gladstone Commercial by 83.3% in the second quarter. Great West Life Assurance Co. Can now owns 7,817 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 3,553 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Gladstone Commercial in the third quarter valued at $171,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Gladstone Commercial in the second quarter valued at $327,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Gladstone Commercial in the second quarter valued at $436,000. Hedge funds and other institutional investors own 53.99% 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 July 2018,Gladstone Commercial has paid 162 consecutive monthly cash distributions on its common stock.

Further Reading: Yield Curve

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Analyst Recommendations for Gladstone Commercial (NASDAQ:GOOD)

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