Gladstone Commercial (NASDAQ:GOOD) Upgraded by BidaskClub to Buy

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Gladstone Commercial (NASDAQ:GOOD) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, September 18th, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Zacks Investment Research cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

GOOD stock traded down $0.03 during mid-day trading on Wednesday, reaching $23.02. 97,630 shares of the company’s stock were exchanged, compared to its average volume of 117,358. The company has a market cap of $713.62 million, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.78. The stock’s 50 day moving average is $22.92 and its 200 day moving average is $21.73. The company has a debt-to-equity ratio of 2.18, a current ratio of 10.81 and a quick ratio of 10.81. Gladstone Commercial has a 12-month low of $16.89 and a 12-month high of $23.65.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.42). Gladstone Commercial had a net margin of 10.97% and a return on equity of 4.72%. The firm had revenue of $28.20 million during the quarter, compared to analysts’ expectations of $28.55 million. On average, research analysts forecast that Gladstone Commercial will post 1.58 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Delphi Management Inc. MA boosted its holdings in Gladstone Commercial by 41.3% in the third quarter. Delphi Management Inc. MA now owns 28,187 shares of the real estate investment trust’s stock valued at $662,000 after purchasing an additional 8,239 shares during the period. Phocas Financial Corp. purchased a new position in Gladstone Commercial in the second quarter valued at $32,000. Nuveen Asset Management LLC purchased a new position in Gladstone Commercial in the second quarter valued at $3,550,000. UBS Asset Management Americas Inc. purchased a new position in Gladstone Commercial in the second quarter valued at $478,000. Finally, Morgan Stanley boosted its holdings in Gladstone Commercial by 121.5% in the second quarter. Morgan Stanley now owns 399,068 shares of the real estate investment trust’s stock valued at $8,469,000 after purchasing an additional 218,898 shares during the period. 56.76% of the stock is owned by institutional investors and hedge funds.

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.

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