Gladstone Commercial (GOOD) Lifted to Buy at Zacks Investment Research

Gladstone Commercial (NASDAQ:GOOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $23.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.80% from the company’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. “

GOOD has been the topic of several other reports. ValuEngine lowered shares of Gladstone Commercial from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 20th. BidaskClub lowered shares of Gladstone Commercial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of Gladstone Commercial in a research report on Friday, December 1st. Finally, Janney Montgomery Scott assumed coverage on shares of Gladstone Commercial in a research report on Friday, September 8th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $22.67.

Gladstone Commercial (GOOD) traded down $0.08 during midday trading on Friday, reaching $20.39. 96,980 shares of the company’s stock traded hands, compared to its average volume of 189,899. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.78. The firm has a market cap of $564.92, a price-to-earnings ratio of -509.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. Gladstone Commercial has a 52 week low of $19.07 and a 52 week high of $23.35.

Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Gladstone Commercial by 55.9% during the 3rd quarter. Prudential Financial Inc. now owns 21,012 shares of the real estate investment trust’s stock valued at $468,000 after acquiring an additional 7,530 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of Gladstone Commercial by 80.3% during the 3rd quarter. Citadel Advisors LLC now owns 115,221 shares of the real estate investment trust’s stock valued at $2,566,000 after acquiring an additional 51,328 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Gladstone Commercial by 3.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 153,600 shares of the real estate investment trust’s stock valued at $3,346,000 after acquiring an additional 5,075 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Gladstone Commercial during the 3rd quarter valued at about $1,722,000. Finally, Vanguard Group Inc. boosted its position in shares of Gladstone Commercial by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,910,745 shares of the real estate investment trust’s stock valued at $63,425,000 after acquiring an additional 81,609 shares in the last quarter. Institutional investors and hedge funds own 52.78% of the company’s stock.

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Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.

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