Gladstone Commercial Co. (NASDAQ:GOOD) Holdings Lifted by Ballentine Partners LLC

Ballentine Partners LLC increased its holdings in Gladstone Commercial Co. (NASDAQ:GOOD) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,214 shares of the real estate investment trust’s stock after purchasing an additional 714 shares during the quarter. Ballentine Partners LLC’s holdings in Gladstone Commercial were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Gladstone Commercial by 1.8% during the fourth quarter. Victory Capital Management Inc. now owns 58,028 shares of the real estate investment trust’s stock valued at $768,000 after purchasing an additional 1,003 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Gladstone Commercial by 7.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 1,185 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Gladstone Commercial by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock worth $2,277,000 after buying an additional 1,327 shares during the period. Price T Rowe Associates Inc. MD grew its position in Gladstone Commercial by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 1,609 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Gladstone Commercial by 16.6% during the 4th quarter. New York State Common Retirement Fund now owns 13,563 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 1,932 shares during the period. 45.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Gladstone Commercial Stock Performance

GOOD stock opened at $15.72 on Friday. The stock has a market cap of $629.65 million, a P/E ratio of -82.74, a P/E/G ratio of 1.82 and a beta of 1.21. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29. The firm has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $14.10. Gladstone Commercial Co. has a 52 week low of $11.40 and a 52 week high of $15.78.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Research analysts anticipate that Gladstone Commercial Co. will post 1.38 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Commercial’s payout ratio is currently -631.58%.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.