Gladstone Commercial (GOOD) Upgraded to Buy at Zacks Investment Research
Gladstone Commercial (NASDAQ:GOOD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $22.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.33% from the company’s previous close.
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. “
A number of other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Gladstone Commercial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of Gladstone Commercial in a research note on Friday, December 1st. Finally, ValuEngine cut Gladstone Commercial from a “strong-buy” rating to a “buy” rating in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.33.
Several hedge funds and other institutional investors have recently modified their holdings of GOOD. BNP Paribas Arbitrage SA lifted its holdings in shares of Gladstone Commercial by 99.6% during the second quarter. BNP Paribas Arbitrage SA now owns 5,032 shares of the real estate investment trust’s stock valued at $110,000 after acquiring an additional 2,511 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Gladstone Commercial during the third quarter valued at $285,000. Voya Investment Management LLC lifted its holdings in shares of Gladstone Commercial by 13.2% during the second quarter. Voya Investment Management LLC now owns 14,447 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 1,680 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Gladstone Commercial by 56.4% during 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 acquiring an additional 7,606 shares during the period. Finally, Wolverine Trading LLC bought a new position in shares of Gladstone Commercial during the second quarter valued at $461,000. 52.78% of the stock is owned by institutional investors.
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Gladstone Commercial Company Profile
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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