Huntington Initiates Coverage on Gladstone Commercial (NASDAQ:GOOD)

Equities researchers at Huntington assumed coverage on shares of Gladstone Commercial (NASDAQ:GOOD) in a research note issued to investors on Tuesday, Zacks reports. The firm set a “hold” rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on GOOD. B. Riley Financial reissued a “neutral” rating and issued a $11.50 target price (down from $12.50) on shares of Gladstone Commercial in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a research report on Monday, August 24th. Four research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.25.

Gladstone Commercial Stock Down 5.6%

Gladstone Commercial stock opened at $10.89 on Tuesday. Gladstone Commercial has a twelve month low of $10.33 and a twelve month high of $13.28. The firm has a 50 day moving average price of $12.48 and a 200-day moving average price of $12.37. The company has a market capitalization of $527.18 million, a P/E ratio of 83.78 and a beta of 1.09. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.15). The company had revenue of $42.42 million for the quarter, compared to analysts’ expectations of $42.56 million. Gladstone Commercial had a return on equity of 11.30% and a net margin of 10.81%. As a group, equities analysts predict that Gladstone Commercial will post 1.39 EPS for the current year.

Institutional Trading of Gladstone Commercial

Several hedge funds and other institutional investors have recently modified their holdings of GOOD. Parallel Advisors LLC boosted its holdings in Gladstone Commercial by 25.1% in the 3rd quarter. Parallel Advisors LLC now owns 4,501 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 903 shares during the period. Arrow Investment Advisors LLC grew its stake in Gladstone Commercial by 14.4% in the 3rd quarter. Arrow Investment Advisors LLC now owns 19,618 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 2,472 shares in the last quarter. Kestra Advisory Services LLC grew its stake in Gladstone Commercial by 5.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,823 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 986 shares in the last quarter. State of Wyoming grew its stake in Gladstone Commercial by 101.5% in the 3rd quarter. State of Wyoming now owns 33,583 shares of the real estate investment trust’s stock valued at $424,000 after buying an additional 16,913 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in Gladstone Commercial by 6,177.8% during the 3rd quarter. Fortitude Family Office LLC now owns 2,260 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,224 shares during the period. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation (NASDAQ: GOOD) is a real estate investment trust (REIT) that owns, acquires, and manages income-producing commercial properties in the United States. The company primarily focuses on office and industrial real estate, including business parks, office buildings, manufacturing facilities, distribution properties, and other commercial assets.

Gladstone Commercial generally leases its properties to businesses under long-term agreements, with the goal of generating recurring rental income.