B. Riley Reiterates “Neutral” Rating for Gladstone Commercial (NASDAQ:GOOD)

Gladstone Commercial (NASDAQ:GOOD)‘s stock had its “neutral” rating reiterated by equities researchers at B. Riley in a research note issued to investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the real estate investment trust’s stock, up from their previous price target of $13.50. B. Riley’s price objective suggests a potential downside of 6.83% from the stock’s current price.

Several other research firms have also weighed in on GOOD. Canaccord Genuity Group raised Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Gladstone Commercial Stock Up 0.9 %

Shares of NASDAQ GOOD opened at $16.10 on Thursday. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The firm has a market capitalization of $644.87 million, a PE ratio of -84.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The firm’s 50-day moving average is $15.35 and its 200-day moving average is $14.52. Gladstone Commercial has a 1 year low of $11.40 and a 1 year high of $16.43.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). The business had revenue of $37.06 million for the quarter, compared to analyst estimates of $35.89 million. Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. During the same period in the prior year, the firm posted $0.41 EPS. Equities analysts expect that Gladstone Commercial will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Gladstone Commercial during the 2nd quarter worth approximately $33,000. Central Pacific Bank Trust Division acquired a new stake in Gladstone Commercial in the 1st quarter valued at $64,000. PNC Financial Services Group Inc. increased its stake in Gladstone Commercial by 68.6% in 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 buying an additional 2,828 shares during the last quarter. Evermay Wealth Management LLC raised its holdings in Gladstone Commercial by 82.4% during the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Gladstone Commercial during the 1st quarter worth approximately $113,000. 45.51% of the stock is currently owned by institutional investors.

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.