Victory Capital Management Inc. acquired a new stake in shares of Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,027 shares of the real estate investment trust’s stock, valued at approximately $629,000. Victory Capital Management Inc. owned 0.09% of Gladstone Commercial as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of GOOD. LPL Financial LLC raised its stake in shares of Gladstone Commercial by 888.5% in the second quarter. LPL Financial LLC now owns 266,339 shares of the real estate investment trust’s stock worth $5,018,000 after buying an additional 239,396 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Gladstone Commercial during the 3rd quarter worth approximately $3,523,000. Renaissance Technologies LLC lifted its holdings in Gladstone Commercial by 6.4% during the first quarter. Renaissance Technologies LLC now owns 2,207,120 shares of the real estate investment trust’s stock valued at $48,601,000 after purchasing an additional 133,700 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Gladstone Commercial by 100.1% in the fourth quarter. HBK Sorce Advisory LLC now owns 202,466 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 101,259 shares during the period. Finally, Exchange Traded Concepts LLC boosted its position in shares of Gladstone Commercial by 74.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 202,269 shares of the real estate investment trust’s stock worth $3,742,000 after purchasing an additional 86,235 shares during the period. Institutional investors own 45.84% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. EF Hutton Acquisition Co. I restated a “buy” rating and set a $18.00 target price (down previously from $20.00) on shares of Gladstone Commercial in a research note on Friday, February 24th. TheStreet cut Gladstone Commercial from a “c-” rating to a “d+” rating in a research report on Monday, March 20th. StockNews.com began coverage on Gladstone Commercial in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, B. Riley reduced their price objective on shares of Gladstone Commercial from $18.00 to $15.00 in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Gladstone Commercial currently has an average rating of “Moderate Buy” and a consensus price target of $16.83.
Gladstone Commercial Price Performance
Shares of Gladstone Commercial stock opened at $11.91 on Tuesday. The firm has a market cap of $476.40 million, a PE ratio of -108.27, a PEG ratio of 1.39 and a beta of 1.11. The stock has a 50 day moving average of $11.83 and a 200 day moving average of $14.92. The company has a current ratio of 5.49, a quick ratio of 5.49 and a debt-to-equity ratio of 3.92. Gladstone Commercial Co. has a 12 month low of $10.84 and a 12 month high of $21.15.
Gladstone Commercial Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, June 21st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.08%. Gladstone Commercial’s dividend payout ratio is currently -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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