Gladstone Commercial (NASDAQ:GOOD) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a buy rating in a report published on Friday morning.

Separately, Alliance Global Partners began coverage on Gladstone Commercial in a research report on Monday, March 18th. They issued a buy rating and a $15.50 price objective for the company.

Gladstone Commercial Stock Up 1.1 %

GOOD opened at $14.27 on Friday. Gladstone Commercial has a 1-year low of $11.40 and a 1-year high of $15.04. The business has a 50 day moving average of $14.11 and a 200-day moving average of $13.46. The stock has a market capitalization of $571.51 million, a price-to-earnings ratio of -75.11, a P/E/G ratio of 1.76 and a beta of 1.17. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 4.85.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.33). Gladstone Commercial had a return on equity of 3.19% and a net margin of 3.60%. The company had revenue of $35.72 million during the quarter, compared to analyst estimates of $36.41 million. As a group, sell-side analysts anticipate that Gladstone Commercial will post 1.36 earnings per share for the current year.

Gladstone Commercial Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.20 dividend on an annualized basis and a yield of 8.41%. Gladstone Commercial’s payout ratio is currently -631.58%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Gladstone Commercial by 2,656.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock worth $6,995,000 after buying an additional 509,133 shares in the last quarter. Freestone Capital Holdings LLC bought a new position in shares of Gladstone Commercial during the first quarter valued at $1,107,000. GSA Capital Partners LLP increased its position in shares of Gladstone Commercial by 436.0% during the 1st quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock worth $1,302,000 after purchasing an additional 76,499 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 valued at $55,999,000 after purchasing an additional 53,802 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Gladstone Commercial by 28.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock valued at $2,566,000 after buying an additional 42,404 shares in the last quarter. 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.