Gladstone Commercial (NASDAQ:GOOD) Stock Rated “Hold” in New Coverage at Huntington

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

Several other brokerages have also commented on GOOD. Weiss Ratings restated a “hold (c)” rating on shares of Gladstone Commercial in a research note on Monday, August 24th. B. Riley Financial reiterated a “neutral” rating and set a $11.50 price objective (down from $12.50) on shares of Gladstone Commercial in a research report on Wednesday. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Gladstone Commercial has an average rating of “Hold” and an average price target of $12.25.

Gladstone Commercial Stock Down 5.6%

GOOD stock opened at $10.89 on Tuesday. 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 has a fifty-two week low of $10.33 and a fifty-two week high of $13.28. The firm’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $12.37. The stock has a market cap of $527.18 million, a PE ratio of 7.95 and a beta of 1.09.

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

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Gladstone Commercial during the second quarter worth approximately $55,101,000. Bank of New York Mellon Corp acquired a new stake in Gladstone Commercial in the second quarter worth approximately $2,648,000. Man Group plc acquired a new stake in Gladstone Commercial in the second quarter worth approximately $1,018,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Gladstone Commercial by 11,990.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,282 shares of the real estate investment trust’s stock worth $987,000 after purchasing an additional 79,618 shares during the period. Finally, Bank of America Corp DE bought a new position in Gladstone Commercial during the 2nd quarter valued at $895,000. 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.