Martingale Asset Management L P reduced its stake in Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) by 62.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,224 shares of the real estate investment trust’s stock after selling 28,893 shares during the quarter. Martingale Asset Management L P’s holdings in Gladstone Commercial were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOD. Cetera Advisor Networks LLC grew its stake in shares of Gladstone Commercial by 5.2% in the first quarter. Cetera Advisor Networks LLC now owns 15,759 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 778 shares during the last quarter. Bank of Montreal Can purchased a new position in Gladstone Commercial in the first quarter worth about $786,000. MetLife Investment Management LLC lifted its stake in shares of Gladstone Commercial by 53.9% in the first quarter. MetLife Investment Management LLC now owns 18,500 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 6,477 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Gladstone Commercial by 0.6% during the first quarter. BlackRock Inc. now owns 2,637,968 shares of the real estate investment trust’s stock valued at $58,089,000 after buying an additional 15,689 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Gladstone Commercial by 9.7% during the first quarter. Great West Life Assurance Co. Can now owns 11,991 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 1,064 shares in the last quarter. Hedge funds and other institutional investors own 45.84% of the company’s stock.
Wall Street Analyst Weigh In
GOOD has been the topic of several analyst reports. TheStreet cut Gladstone Commercial from a “c-” rating to a “d+” rating in a research report on Monday, March 20th. EF Hutton Acquisition Co. I reaffirmed a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of Gladstone Commercial in a research report on Friday, February 24th. B. Riley reduced their price objective on Gladstone Commercial from $18.00 to $15.00 in a report on Monday, May 8th. Finally, StockNews.com started coverage on shares of Gladstone Commercial in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.
Gladstone Commercial Stock Up 4.8 %
NASDAQ GOOD opened at $12.81 on Thursday. 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 current ratio of 5.49 and a quick ratio of 5.49. The business’s fifty day moving average price is $11.85 and its 200-day moving average price is $14.86.
Gladstone Commercial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, June 21st will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.37%. The ex-dividend date is Tuesday, June 20th. Gladstone Commercial’s dividend payout ratio is -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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