State of New Jersey Common Pension Fund D Sells 92,244 Shares of Gladstone Commercial Co. (NASDAQ:GOOD)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 40.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,514 shares of the real estate investment trust’s stock after selling 92,244 shares during the period. State of New Jersey Common Pension Fund D owned about 0.33% of Gladstone Commercial worth $1,905,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOD. PNC Financial Services Group Inc. raised its stake in shares of Gladstone Commercial by 68.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 2,828 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Gladstone Commercial during the 1st quarter worth $113,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Gladstone Commercial by 17.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,793 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 7,088 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Gladstone Commercial by 31.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,655 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 4,731 shares during the period. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Gladstone Commercial during the 1st quarter worth $64,000. 45.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Gladstone Commercial Trading Down 1.7 %

Shares of Gladstone Commercial stock opened at $15.79 on Friday. Gladstone Commercial Co. has a 52-week low of $11.40 and a 52-week high of $16.43. The stock’s 50-day simple moving average is $15.01 and its 200 day simple moving average is $14.26. The stock has a market capitalization of $632.45 million, a P/E ratio of -83.11, a P/E/G ratio of 1.86 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.

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

Gladstone Commercial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Commercial’s dividend payout ratio is presently -631.58%.

Gladstone Commercial Company Profile

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.