Commonwealth Equity Services LLC Trims Stock Position in Gladstone Commercial Co. (NASDAQ:GOOD)

Commonwealth Equity Services LLC lessened its holdings in Gladstone Commercial Co. (NASDAQ:GOOD) by 14.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,912 shares of the real estate investment trust’s stock after selling 3,750 shares during the period. Commonwealth Equity Services LLC owned 0.06% of Gladstone Commercial worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of GOOD. Freestone Capital Holdings LLC purchased a new position in Gladstone Commercial during the first quarter worth approximately $1,107,000. GSA Capital Partners LLP boosted its stake in Gladstone Commercial by 436.0% during the 1st quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock valued at $1,302,000 after acquiring an additional 76,499 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Gladstone Commercial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after buying an additional 53,802 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Gladstone Commercial in the 1st quarter worth about $113,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Gladstone Commercial by 68.6% in 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 buying an additional 2,828 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Stock Up 0.7 %

Gladstone Commercial stock opened at $15.90 on Tuesday. The stock has a market cap of $636.86 million, a price-to-earnings ratio of -83.68, a PEG ratio of 1.86 and a beta of 1.21. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The company’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $14.29. Gladstone Commercial Co. has a 52 week low of $11.40 and a 52 week high of $16.43.

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

Gladstone Commercial Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.55%. Gladstone Commercial’s dividend payout ratio is currently -631.58%.

Analyst Upgrades and Downgrades

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

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.