Stifel Financial Corp Reduces Stake in Gladstone Commercial Co. (NASDAQ:GOOD)

Stifel Financial Corp decreased its holdings in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,409 shares of the real estate investment trust’s stock after selling 1,895 shares during the quarter. Stifel Financial Corp owned approximately 0.19% of Gladstone Commercial worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Gladstone Commercial by 0.8% during 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 purchasing an additional 1,327 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in Gladstone Commercial during the 2nd quarter worth $158,000. International Assets Investment Management LLC acquired a new stake in Gladstone Commercial during the 2nd quarter worth $33,000. Ballentine Partners LLC lifted its position in Gladstone Commercial by 5.3% in the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 714 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Gladstone Commercial by 1.5% in the second quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock valued at $4,679,000 after acquiring an additional 4,800 shares in the last quarter. 45.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. B. Riley reiterated a “neutral” rating and set a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th. StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

Gladstone Commercial Price Performance

Shares of NASDAQ:GOOD opened at $16.04 on Friday. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. Gladstone Commercial Co. has a one year low of $11.89 and a one year high of $17.88. The company has a 50-day simple moving average of $16.73 and a 200-day simple moving average of $15.56. The stock has a market capitalization of $704.46 million, a price-to-earnings ratio of 80.20, a PEG ratio of 1.97 and a beta of 1.24.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $1.20 dividend on an annualized basis and a yield of 7.48%. Gladstone Commercial’s payout ratio is 600.00%.

Gladstone Commercial 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.