Gladstone Commercial Corporation (GOOD) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Gladstone Commercial Corporation (NASDAQ:GOOD) from a buy rating to a hold rating in a research report report published on Tuesday, October 17th.

According to Zacks, “Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Its goal is to pay our shareholders dividends on a monthly basis. Its objective is to increase the amount of dividends paid out each year. “

Other research analysts have also recently issued reports about the stock. Janney Montgomery Scott started coverage on shares of Gladstone Commercial Corporation in a report on Friday, September 8th. They set a buy rating for the company. DA Davidson started coverage on shares of Gladstone Commercial Corporation in a report on Tuesday, July 25th. They set a buy rating and a $24.00 price target for the company. Canaccord Genuity started coverage on shares of Gladstone Commercial Corporation in a report on Tuesday, July 18th. They issued a hold rating and a $22.00 target price for the company. BidaskClub cut shares of Gladstone Commercial Corporation from a buy rating to a hold rating in a report on Tuesday, July 11th. Finally, Ladenburg Thalmann Financial Services reaffirmed a hold rating on shares of Gladstone Commercial Corporation in a report on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $23.33.

Gladstone Commercial Corporation (NASDAQ GOOD) traded up 1.06% during midday trading on Tuesday, hitting $22.02. The stock had a trading volume of 34,087 shares. The stock’s market cap is $608.68 million. Gladstone Commercial Corporation has a 12 month low of $16.02 and a 12 month high of $23.35. The stock has a 50 day moving average of $22.17 and a 200 day moving average of $21.51.

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The firm also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a $0.125 dividend. The ex-dividend date is Friday, November 17th. This represents a $1.50 annualized dividend and a dividend yield of 6.88%. Gladstone Commercial Corporation’s dividend payout ratio is presently -1,250.00%.

Several hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its position in shares of Gladstone Commercial Corporation by 5.7% in the third quarter. Strs Ohio now owns 41,661 shares of the real estate investment trust’s stock valued at $927,000 after purchasing an additional 2,261 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Gladstone Commercial Corporation by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 21,662 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 1,336 shares during the last quarter. State Street Corp grew its position in shares of Gladstone Commercial Corporation by 14.4% in the second quarter. State Street Corp now owns 539,308 shares of the real estate investment trust’s stock valued at $11,754,000 after purchasing an additional 67,863 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Gladstone Commercial Corporation by 56.4% in the second quarter. Goldman Sachs Group Inc. now owns 21,094 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 7,606 shares during the last quarter. Finally, Wolverine Trading LLC acquired a new stake in shares of Gladstone Commercial Corporation in the second quarter valued at approximately $461,000. Institutional investors and hedge funds own 49.11% of the company’s stock.

About Gladstone Commercial Corporation

Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.

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