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Gladstone Commercial (NASDAQ:GOOD) Rating Increased to Buy at Zacks Investment Research

Last updated on Wednesday, July 8th, 2020 by MarketBeat

Gladstone Commercial (NASDAQ:GOOD) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $21.00 price target on the real estate investment trust's stock. Zacks Investment Research's target price points to a potential upside of 12.24% from the stock's previous close.

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 research analysts have also issued reports on GOOD. TheStreet upgraded shares of Gladstone Commercial from a "d+" rating to a "c-" rating in a research note on Monday, June 22nd. ValuEngine lowered shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research note on Wednesday, April 8th. Wedbush decreased their price target on shares of Gladstone Commercial from $26.00 to $21.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Janney Montgomery Scott reiterated a "buy" rating on shares of Gladstone Commercial in a research note on Thursday, April 23rd. Finally, B. Riley increased their price target on shares of Gladstone Commercial from $18.00 to $22.00 in a research note on Wednesday, June 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Gladstone Commercial has a consensus rating of "Buy" and a consensus target price of $22.25.

NASDAQ:GOOD opened at $18.71 on Wednesday. The company has a 50-day moving average price of $18.13 and a 200-day moving average price of $18.11. Gladstone Commercial has a 12 month low of $7.59 and a 12 month high of $23.98. The company has a current ratio of 5.92, a quick ratio of 5.92 and a debt-to-equity ratio of 2.98. The stock has a market cap of $630.51 million, a price-to-earnings ratio of -77.96 and a beta of 1.03.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.39 by ($0.41). Gladstone Commercial had a return on equity of 2.99% and a net margin of 5.97%. The company had revenue of $33.62 million during the quarter, compared to analysts' expectations of $30.34 million. Equities analysts forecast that Gladstone Commercial will post 1.59 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Gladstone Commercial by 1.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 67,763 shares of the real estate investment trust's stock valued at $1,482,000 after acquiring an additional 858 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Gladstone Commercial by 3.0% during the 4th quarter. Baird Financial Group Inc. now owns 34,905 shares of the real estate investment trust's stock valued at $763,000 after acquiring an additional 1,019 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Gladstone Commercial by 1.3% during the 1st quarter. Bessemer Group Inc. now owns 105,100 shares of the real estate investment trust's stock valued at $1,509,000 after acquiring an additional 1,300 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Gladstone Commercial by 2.2% during the 1st quarter. Swiss National Bank now owns 60,600 shares of the real estate investment trust's stock valued at $870,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Gladstone Commercial by 23.5% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,440 shares of the real estate investment trust's stock valued at $107,000 after acquiring an additional 1,418 shares during the last quarter. 58.34% of the stock is currently owned by hedge funds and other institutional investors.

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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.

Further Reading: Cost of Equity For A Business, Investors

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