Gladstone Commercial falls on Janney's rating cut

Gladstone Commercial

13/01/2023 14:03

** REIT Gladstone Commercial Corp's shares  GOOD.O  slip
~1.4% premarket after Janney cuts to 'neutral' from 'buy'
    ** Brokerage sets PT of $17.50, implying an upside of ~5% to
last close
    ** Says GOOD lacks room to outperform after cutting its
annual dividend to $1.20/shr from $1.50/shr and with resumption
of div growth uncertain
    ** Brokerage notes that the larger portion of GOOD investors
are yield oriented
    ** Stock is down ~10% this month, as of last close 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))