Gladstone Commercial (NASDAQ:GOOD) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Gladstone Commercial (NASDAQ:GOOD) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently weighed in on GOOD. Huntington initiated coverage on shares of Gladstone Commercial in a research report on Tuesday, November 3rd. They issued a “hold” rating for the company. Weiss Ratings cut Gladstone Commercial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Finally, B. Riley Financial restated a “neutral” rating and set a $11.50 target price (down from $12.50) on shares of Gladstone Commercial in a research report on Wednesday, November 4th. Four analysts have rated the stock with a Hold rating. According to MarketBeat.com, Gladstone Commercial presently has a consensus rating of “Hold” and an average target price of $12.25.

Gladstone Commercial Stock Performance

GOOD opened at $10.23 on Friday. The company has a debt-to-equity ratio of 5.82, a current ratio of 2.60 and a quick ratio of 3.72. The firm has a fifty day moving average price of $12.32 and a 200 day moving average price of $12.35. Gladstone Commercial has a 1 year low of $10.03 and a 1 year high of $13.28. The stock has a market cap of $496.97 million, a P/E ratio of 7.51 and a beta of 1.09.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). The firm had revenue of $42.42 million for the quarter, compared to analysts’ expectations of $42.56 million. Gladstone Commercial had a return on equity of 11.58% and a net margin of 10.81%. Equities research analysts anticipate that Gladstone Commercial will post 1.42 earnings per share for the current year.

Gladstone Commercial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, December 21st will be given a $0.10 dividend. The ex-dividend date is Monday, December 21st. This represents a $1.20 annualized dividend and a dividend yield of 11.7%. Gladstone Commercial’s dividend payout ratio (DPR) is 923.08%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Man Group plc acquired a new position in shares of Gladstone Commercial during the second quarter valued at approximately $1,018,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 valued at $987,000 after acquiring an additional 79,618 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Gladstone Commercial in the second quarter valued at approximately $55,101,000. Bank of New York Mellon Corp purchased a new position in shares of Gladstone Commercial in the second quarter valued at approximately $2,648,000. Finally, Ieq Capital LLC acquired a new stake in shares of Gladstone Commercial in the second quarter worth approximately $830,000. Institutional investors and hedge funds 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.