B. Riley Reiterates “Neutral” Rating for Gladstone Commercial (NASDAQ:GOOD)

Gladstone Commercial (NASDAQ:GOOD)‘s stock had its “neutral” rating reaffirmed by equities researchers at B. Riley in a research note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $12.00. B. Riley’s price objective would suggest a potential upside of 2.56% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Gladstone Commercial from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Loop Capital set a $13.00 price objective on Gladstone Commercial in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Gladstone Commercial in a research note on Wednesday. Finally, Wall Street Zen lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $12.00.

Gladstone Commercial Trading Down 0.8%

GOOD traded down $0.09 during trading on Monday, hitting $10.73. 265,660 shares of the stock traded hands, compared to its average volume of 421,541. The firm has a market capitalization of $519.10 million, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11. Gladstone Commercial has a 12-month low of $10.47 and a 12-month high of $17.88. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.91 and a quick ratio of 2.91. The firm has a 50-day moving average of $11.65 and a 200 day moving average of $13.06.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). The firm had revenue of $40.84 million during the quarter, compared to analysts’ expectations of $40.10 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. Equities research analysts anticipate that Gladstone Commercial will post 1.45 EPS for the current year.

Insider Activity

In other news, CFO Gary Gerson bought 7,600 shares of the stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of $11.05 per share, for a total transaction of $83,980.00. Following the purchase, the chief financial officer directly owned 23,200 shares in the company, valued at $256,360. This trade represents a 48.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders purchased 8,500 shares of company stock valued at $93,751. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Gladstone Commercial by 2.2% during the third quarter. Vanguard Group Inc. now owns 4,802,602 shares of the real estate investment trust’s stock valued at $59,168,000 after buying an additional 102,561 shares during the period. Geode Capital Management LLC increased its stake in shares of Gladstone Commercial by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,219,393 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 41,774 shares in the last quarter. Invesco Ltd. lifted its position in Gladstone Commercial by 33.6% during the 3rd quarter. Invesco Ltd. now owns 928,241 shares of the real estate investment trust’s stock valued at $11,436,000 after acquiring an additional 233,493 shares during the period. Qube Research & Technologies Ltd boosted its stake in Gladstone Commercial by 56.7% during the third quarter. Qube Research & Technologies Ltd now owns 823,864 shares of the real estate investment trust’s stock worth $10,150,000 after acquiring an additional 298,114 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Gladstone Commercial by 22.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 815,997 shares of the real estate investment trust’s stock worth $12,224,000 after acquiring an additional 148,031 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.

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.