Gladstone Commercial (NASDAQ:GOOD) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Gladstone Commercial (NASDAQ:GOODGet Rating) from a hold rating to a strong sell rating in a research note released on Tuesday morning, Zacks.com reports.

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. “

Several other equities research analysts have also weighed in on GOOD. B. Riley lowered their target price on shares of Gladstone Commercial from $25.00 to $23.00 in a report on Monday, May 9th. StockNews.com assumed coverage on shares of Gladstone Commercial in a research report on Thursday, March 31st. They set a hold rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gladstone Commercial has a consensus rating of Hold and a consensus price target of $24.50.

GOOD opened at $20.15 on Tuesday. The firm’s 50-day simple moving average is $21.15 and its 200-day simple moving average is $22.29. The company has a debt-to-equity ratio of 3.29, a quick ratio of 8.87 and a current ratio of 8.87. Gladstone Commercial has a twelve month low of $18.23 and a twelve month high of $26.13. The firm has a market cap of $778.78 million, a price-to-earnings ratio of -671.44, a PEG ratio of 1.96 and a beta of 1.02.

Gladstone Commercial (NASDAQ:GOODGet Rating) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.39). Gladstone Commercial had a return on equity of 6.37% and a net margin of 9.46%. The firm had revenue of $35.53 million during the quarter, compared to the consensus estimate of $37.08 million. As a group, sell-side analysts anticipate that Gladstone Commercial will post 1.61 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 22nd will be given a dividend of $0.1254 per share. The ex-dividend date of this dividend is Tuesday, June 21st. This represents a $1.50 annualized dividend and a yield of 7.47%. Gladstone Commercial’s dividend payout ratio (DPR) is -4,998.33%.

Institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D lifted its position in Gladstone Commercial by 6.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 124,883 shares of the real estate investment trust’s stock valued at $3,218,000 after purchasing an additional 7,503 shares during the period. Asset Management One Co. Ltd. lifted its position in Gladstone Commercial by 8.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 61,758 shares of the real estate investment trust’s stock valued at $1,566,000 after purchasing an additional 4,632 shares during the period. International Assets Investment Management LLC lifted its position in Gladstone Commercial by 2.5% during the 4th quarter. International Assets Investment Management LLC now owns 41,668 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 1,000 shares during the period. EAM Global Investors LLC acquired a new position in Gladstone Commercial during the 4th quarter valued at about $2,344,000. Finally, Intrust Bank NA acquired a new position in Gladstone Commercial during the 4th quarter valued at about $287,000. Institutional investors own 49.60% of the company’s stock.

About Gladstone Commercial (Get Rating)

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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.

Further Reading

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