Mirae Asset Global Investments Co. Ltd. lessened its position in shares of Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) by 12.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,466 shares of the real estate investment trust’s stock after selling 3,955 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Gladstone Commercial worth $508,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its stake in shares of Gladstone Commercial by 99.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,659 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 828 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Gladstone Commercial by 1,428.4% in the 4th quarter. Parallel Advisors LLC now owns 1,452 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,357 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Gladstone Commercial in the 1st quarter valued at approximately $30,000. Signaturefd LLC grew its stake in shares of Gladstone Commercial by 214.2% in the 4th quarter. Signaturefd LLC now owns 1,678 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,144 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Gladstone Commercial in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 45.84% of the company’s stock.
Insider Buying and Selling
In other news, CIO Elliott Wislar, Jr. acquired 2,000 shares of Gladstone Commercial stock in a transaction that occurred on Monday, March 6th. The stock was purchased at an average cost of $13.68 per share, with a total value of $27,360.00. Following the completion of the acquisition, the executive now owns 3,070 shares in the company, valued at approximately $41,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Arthur S. Cooper purchased 3,600 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was bought at an average cost of $13.50 per share, with a total value of $48,600.00. Following the completion of the acquisition, the president now directly owns 22,625 shares in the company, valued at approximately $305,437.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CIO Elliott Wislar, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was bought at an average cost of $13.68 per share, with a total value of $27,360.00. Following the completion of the acquisition, the executive now owns 3,070 shares of the company’s stock, valued at $41,997.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 5,850 shares of company stock valued at $79,348. 1.50% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. TheStreet downgraded Gladstone Commercial from a “c-” rating to a “d+” rating in a research note on Monday, March 20th. B. Riley decreased their price target on Gladstone Commercial from $18.00 to $15.00 in a research note on Monday, May 8th. StockNews.com assumed coverage on Gladstone Commercial in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, EF Hutton Acquisition Co. I restated a “buy” rating and issued a $18.00 price target (down from $20.00) on shares of Gladstone Commercial in a research note on Friday, February 24th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.83.
Gladstone Commercial Stock Performance
Shares of GOOD stock opened at $11.94 on Friday. The stock has a fifty day moving average price of $11.84 and a 200 day moving average price of $15.02. The stock has a market cap of $477.59 million, a PE ratio of -108.55, a P/E/G ratio of 1.36 and a beta of 1.11. Gladstone Commercial Co. has a 1 year low of $10.84 and a 1 year high of $21.15. The company has a debt-to-equity ratio of 3.92, a quick ratio of 5.49 and a current ratio of 5.49.
Gladstone Commercial Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, June 21st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 20th. This represents a $1.20 annualized dividend and a yield of 10.05%. Gladstone Commercial’s dividend payout ratio is presently -1,090.91%.
Gladstone Commercial Profile
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Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. It operates through the Texas, Florida, Pennsylvania, Ohio, Georgia, North Carolina, Alabama, New Jersey, Michigan, South Carolina, and All Other States geographic locations.
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