Gladstone Commercial (NASDAQ:GOOD) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a sell rating to a hold rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other brokerages also recently commented on GOOD. ValuEngine downgraded shares of Gladstone Commercial from a buy rating to a hold rating in a research report on Monday, July 22nd. Zacks Investment Research downgraded shares of Gladstone Commercial from a buy rating to a hold rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $22.50.

Shares of NASDAQ:GOOD opened at $21.14 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 10.81 and a current ratio of 10.81. The firm has a market capitalization of $660.70 million, a P/E ratio of 13.66, a P/E/G ratio of 2.70 and a beta of 0.83. Gladstone Commercial has a 52 week low of $16.89 and a 52 week high of $22.83. The firm has a 50-day moving average price of $21.35.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.42). The firm had revenue of $28.20 million during the quarter, compared to analyst estimates of $28.55 million. Gladstone Commercial had a net margin of 10.97% and a return on equity of 4.72%. As a group, analysts predict that Gladstone Commercial will post 1.58 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Tuesday, August 20th will be given a $0.125 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.50 dividend on an annualized basis and a yield of 7.10%. Gladstone Commercial’s payout ratio is currently 94.34%.

A number of large investors have recently made changes to their positions in GOOD. BlackRock Inc. boosted its position in shares of Gladstone Commercial by 3.1% during the 4th quarter. BlackRock Inc. now owns 2,252,248 shares of the real estate investment trust’s stock valued at $40,361,000 after acquiring an additional 68,243 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gladstone Commercial by 5.1% during the 4th quarter. Bank of New York Mellon Corp now owns 247,175 shares of the real estate investment trust’s stock valued at $4,428,000 after acquiring an additional 12,099 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Gladstone Commercial by 13.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 9,185 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 1,083 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gladstone Commercial by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 433,606 shares of the real estate investment trust’s stock valued at $7,770,000 after acquiring an additional 28,054 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Gladstone Commercial by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 366,675 shares of the real estate investment trust’s stock valued at $6,570,000 after acquiring an additional 16,626 shares during the last quarter. Hedge funds and other institutional investors own 55.63% 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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.

Further Reading: What does a dividend yield signify to investors?

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