In a report released today, Barry Oxford from Colliers Securities reiterated a Buy rating on Gladstone Commercial (GOOD – Research Report), with a price target of $17.00.
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Barry Oxford’s rating is based on Gladstone Commercial’s strategic shift and operational performance. The company is actively engaging in a capital recycling program, selling non-core office properties to expand its industrial asset base, which now constitutes 63% of its annualized straight-line rent. This strategic focus on industrial properties is expected to enhance revenue stability and growth potential.
Additionally, the company reported solid financial performance with core funds from operations aligning with market expectations and achieving a remarkable occupancy rate of 98.7%. Despite slightly above-average debt levels, Gladstone Commercial maintains substantial liquidity, with no significant debt maturities until 2027. These factors, combined with recent acquisitions and a disciplined approach to capital management, support the Buy rating by signaling a stable and promising outlook for the company.
In another report released yesterday, Alliance Global Partners also maintained a Buy rating on the stock with a $18.00 price target.