Gladstone Commercial (NASDAQ:GOOD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a buy rating in a research note released on Friday morning.

Separately, Alliance Global Partners began coverage on Gladstone Commercial in a research note on Monday, March 18th. They issued a buy rating and a $15.50 price objective on the stock.

Gladstone Commercial Stock Up 1.1 %

GOOD opened at $14.27 on Friday. Gladstone Commercial has a fifty-two week low of $11.40 and a fifty-two week high of $15.04. The business has a 50-day moving average of $14.11 and a 200-day moving average of $13.46. The company has a debt-to-equity ratio of 4.85, a current ratio of 3.67 and a quick ratio of 3.67. The company has a market capitalization of $571.51 million, a PE ratio of -75.11, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.33). Gladstone Commercial had a return on equity of 3.19% and a net margin of 3.60%. The firm had revenue of $35.72 million for the quarter, compared to analysts’ expectations of $36.41 million. Equities research analysts forecast that Gladstone Commercial will post 1.36 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, June 19th were paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend was Tuesday, June 18th. Gladstone Commercial’s payout ratio is -631.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC raised its stake in shares of Gladstone Commercial by 14.8% in the 1st quarter. Cetera Advisors LLC now owns 18,298 shares of the real estate investment trust’s stock valued at $253,000 after acquiring an additional 2,353 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Gladstone Commercial by 13.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 160,270 shares of the real estate investment trust’s stock valued at $2,218,000 after buying an additional 18,587 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Gladstone Commercial by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock valued at $327,000 after buying an additional 1,609 shares during the last quarter. Freestone Capital Holdings LLC acquired a new stake in Gladstone Commercial in the 1st quarter valued at approximately $1,107,000. Finally, Evermay Wealth Management LLC grew its holdings in Gladstone Commercial by 82.4% in the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 3,475 shares during the last quarter. 45.51% of the stock is owned by 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 January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.