Gladstone Commercial (NASDAQ:GOOD) Stock Rating Upgraded by Canaccord Genuity Group

Gladstone Commercial (NASDAQ:GOOD) was upgraded by analysts at Canaccord Genuity Group to a “strong-buy” rating in a report issued on Friday, Zacks.com reports.

Separately, StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Gladstone Commercial Stock Down 0.3 %

NASDAQ GOOD opened at $16.00 on Friday. The stock has a market capitalization of $640.86 million, a PE ratio of -84.21, a PEG ratio of 1.91 and a beta of 1.21. Gladstone Commercial has a 1 year low of $11.40 and a 1 year high of $16.43. The business’s 50-day moving average is $15.27 and its 200 day moving average is $14.47. The company has a debt-to-equity ratio of 4.95, a current ratio of 3.29 and a quick ratio of 3.29.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.37). The firm had revenue of $37.06 million for the quarter, compared to the consensus estimate of $35.89 million. Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. During the same period in the previous year, the firm posted $0.41 earnings per share. Sell-side analysts forecast that Gladstone Commercial will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Gladstone Commercial

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Gladstone Commercial by 68.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 2,828 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Gladstone Commercial in the 1st quarter worth about $113,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in Gladstone Commercial by 17.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,793 shares of the real estate investment trust’s stock worth $661,000 after buying an additional 7,088 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Gladstone Commercial by 31.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,655 shares of the real estate investment trust’s stock valued at $272,000 after acquiring an additional 4,731 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Gladstone Commercial during the 1st quarter valued at about $64,000. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Company Profile

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.