Gladstone Commercial (NASDAQ:GOOD) Downgraded by Wall Street Zen to "Sell"

Key Points

• Gladstone Commercial has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• Despite the downgrade, shares of Gladstone Commercial rose by 0.4%, trading at $13.08, as it reported earnings per share that met analysts' consensus estimates.
• Institutional investors own 45.51% of Gladstone Commercial's stock, with several hedge funds recently acquiring new positions in the company.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Gladstone Commercial Trading Down 0.3%

Shares of GOOD traded down $0.04 during trading hours on Friday, hitting $13.35. 62,270 shares of the stock traded hands, compared to its average volume of 377,986. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 4.50. Gladstone Commercial has a 1-year low of $12.67 and a 1-year high of $17.88. The firm has a market capitalization of $621.34 million, a PE ratio of 37.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. The business has a fifty day moving average of $14.00 and a 200-day moving average of $14.55.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Gladstone Commercial had a return on equity of 16.37% and a net margin of 18.67%. The business had revenue of $39.53 million for the quarter, compared to analyst estimates of $38.32 million. Analysts expect that Gladstone Commercial will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its stake in Gladstone Commercial by 0.6% in the fourth quarter. LPL Financial LLC now owns 117,327 shares of the real estate investment trust's stock valued at $1,905,000 after buying an additional 710 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Gladstone Commercial by 1.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 49,456 shares of the real estate investment trust's stock valued at $709,000 after buying an additional 849 shares during the period. State of Alaska Department of Revenue lifted its stake in Gladstone Commercial by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 21,170 shares of the real estate investment trust's stock valued at $316,000 after buying an additional 924 shares during the period. Tritonpoint Wealth LLC lifted its stake in Gladstone Commercial by 7.4% in the second quarter. Tritonpoint Wealth LLC now owns 14,535 shares of the real estate investment trust's stock valued at $208,000 after buying an additional 1,000 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Gladstone Commercial by 2.3% during the second quarter. Russell Investments Group Ltd. now owns 46,681 shares of the real estate investment trust's stock worth $669,000 after purchasing an additional 1,055 shares during the period. Institutional investors and hedge funds 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.