Gladstone Commercial (NASDAQ:GOOD) Given “Neutral” Rating at B. Riley Financial

B. Riley Financial restated their neutral rating on shares of Gladstone Commercial (NASDAQ:GOOD) in a research note released on Wednesday morning,Benzinga reports. They currently have a $11.50 price target on the real estate investment trust’s stock, down from their previous price target of $12.50.

GOOD has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Gladstone Commercial in a report on Monday, August 24th. Huntington began coverage on shares of Gladstone Commercial in a research report on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 price target on the stock. Four research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.25.

Gladstone Commercial Stock Performance

GOOD opened at $10.89 on Wednesday. The company has a debt-to-equity ratio of 5.43, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market cap of $527.18 million, a PE ratio of 7.95 and a beta of 1.09. The stock has a 50-day moving average of $12.48 and a 200-day moving average of $12.37. Gladstone Commercial has a 52-week low of $10.33 and a 52-week high of $13.28.

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 analysts’ consensus estimates of $0.04 by ($0.15). Gladstone Commercial had a net margin of 10.81% and a return on equity of 11.30%. The company had revenue of $42.42 million during the quarter, compared to the consensus estimate of $42.56 million. As a group, equities research analysts forecast that Gladstone Commercial will post 1.39 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The firm also recently declared 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. This represents a $1.20 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Monday, December 21st. Gladstone Commercial’s dividend payout ratio (DPR) is currently 461.54%.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors have recently made changes to their positions in GOOD. Fortitude Family Office LLC increased its position in Gladstone Commercial by 6,177.8% in the 3rd quarter. Fortitude Family Office LLC now owns 2,260 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 2,224 shares during the period. CX Institutional acquired a new position in shares of Gladstone Commercial during the third quarter worth approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Gladstone Commercial by 218.3% during the third quarter. GAMMA Investing LLC now owns 3,231 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 2,216 shares during the last quarter. Trust Co. of Vermont bought a new stake in shares of Gladstone Commercial in the second quarter valued at approximately $40,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Gladstone Commercial in the first quarter valued at approximately $46,000. 45.51% of the stock is currently owned by institutional investors.

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.