Gladstone Commercial (NASDAQ:GOOD) Stock Picked Up by Analysts at Huntington

Analysts at Huntington began coverage on shares of Gladstone Commercial (NASDAQ:GOOD) in a research note issued on Tuesday, Zacks reports. The brokerage set a “hold” rating on the real estate investment trust’s stock.

A number of other analysts also recently commented on GOOD. Weiss Ratings reiterated a “hold (c)” rating on shares of Gladstone Commercial in a report on Monday, August 24th. B. Riley Financial reissued a “neutral” rating and set a $11.50 target price (down from $12.50) on shares of Gladstone Commercial in a research note on Wednesday. Four research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.25.

Gladstone Commercial Price Performance

Shares of Gladstone Commercial stock opened at $10.89 on Tuesday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 5.43. The company’s 50-day moving average price is $12.48 and its two-hundred day moving average price is $12.37. Gladstone Commercial has a 52 week low of $10.33 and a 52 week high of $13.28. The stock has a market cap of $527.18 million, a PE ratio of 7.95 and a beta of 1.09.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings results 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 business had revenue of $42.42 million during the quarter, compared to analyst estimates of $42.56 million. As a group, sell-side analysts anticipate that Gladstone Commercial will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Gladstone Commercial

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Gladstone Commercial during the second quarter valued at $55,101,000. Bank of New York Mellon Corp acquired a new position in shares of Gladstone Commercial in the 2nd quarter valued at $2,648,000. Man Group plc acquired a new position in shares of Gladstone Commercial in the 2nd quarter valued at $1,018,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Gladstone Commercial by 11,990.7% in the 2nd 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 worth $987,000 after purchasing an additional 79,618 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Gladstone Commercial in the 2nd quarter worth about $895,000. 45.51% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Commercial

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.