Aegis Capital Starts Gladstone Commercial (GOOD) at Buy
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Aegis Capital analyst Brian Hollenden initiates coverage on Gladstone Commercial (NASDAQ: GOOD) with a Buy rating and a price target of $23.00.
Analyst comments: "Investors are willing to pay a higher multiple for industrial properties because it has sticky tenants and stronger demand. We think GOOD’s multiple will expand, along with the company’s industrial focus, as investors heavily favor industrial over office properties. GOOD's average price to next twelve month's FFO multiple has been 14.0x over the last five years."
Shares of Gladstone Commercial closed at $20.35 yesterday.
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