Gladstone Commercial (NASDAQ:GOOD) Earns “Neutral” Rating from B. Riley

Gladstone Commercial (NASDAQ:GOOD)‘s stock had its “neutral” rating restated by B. Riley in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $11.00 price target on the real estate investment trust’s stock, down from their previous price target of $12.00. B. Riley’s price target points to a potential downside of 0.45% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Zacks Research cut shares of Gladstone Commercial from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gladstone Commercial in a research note on Wednesday, November 19th. Loop Capital set a $13.00 price objective on shares of Gladstone Commercial in a research report on Wednesday, November 5th. Finally, Wall Street Zen lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gladstone Commercial has a consensus rating of “Reduce” and a consensus target price of $12.00.

Gladstone Commercial Stock Up 3.1%

Shares of Gladstone Commercial stock opened at $11.05 on Monday. Gladstone Commercial has a 12-month low of $10.47 and a 12-month high of $17.88. The firm has a market capitalization of $534.83 million, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 4.50. The stock’s fifty day moving average is $11.57 and its 200-day moving average is $13.02.

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

Insider Activity

In related news, CFO Gary Gerson purchased 7,600 shares of the stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $83,980.00. Following the acquisition, the chief financial officer directly owned 23,200 shares in the company, valued at approximately $256,360. The trade was a 48.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 8,500 shares of company stock worth $93,751. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Gladstone Commercial by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,802,602 shares of the real estate investment trust’s stock worth $59,168,000 after purchasing an additional 102,561 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $17,476,000 after buying an additional 41,774 shares in the last quarter. Invesco Ltd. increased its holdings in Gladstone Commercial by 33.6% in the third quarter. Invesco Ltd. now owns 928,241 shares of the real estate investment trust’s stock worth $11,436,000 after buying an additional 233,493 shares during the last quarter. Qube Research & Technologies Ltd raised its position 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 valued at $10,150,000 after acquiring an additional 298,114 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $12,224,000 after acquiring an additional 148,031 shares in the last quarter. Hedge funds and other 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.