Boston Partners lessened its stake in Gladstone Commercial Co. (NASDAQ:GOOD) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,005 shares of the real estate investment trust’s stock after selling 570 shares during the quarter. Boston Partners owned about 0.20% of Gladstone Commercial worth $1,481,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in GOOD. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Gladstone Commercial by 20.8% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 38,453 shares of the real estate investment trust’s stock worth $904,000 after buying an additional 6,612 shares during the last quarter. Swiss National Bank increased its holdings in Gladstone Commercial by 3.6% during the 2nd quarter. Swiss National Bank now owns 54,800 shares of the real estate investment trust’s stock worth $1,163,000 after purchasing an additional 1,900 shares in the last quarter. Rhumbline Advisers increased its holdings in Gladstone Commercial by 6.7% during the 3rd quarter. Rhumbline Advisers now owns 48,448 shares of the real estate investment trust’s stock worth $1,139,000 after purchasing an additional 3,046 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Gladstone Commercial in the 2nd quarter valued at about $3,550,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Gladstone Commercial by 9.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 174,602 shares of the real estate investment trust’s stock valued at $3,647,000 after purchasing an additional 14,927 shares during the period. 57.20% of the stock is currently owned by hedge funds and other institutional investors.
GOOD has been the subject of several recent research reports. Zacks Investment Research cut Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. National Securities began coverage on Gladstone Commercial in a research report on Monday, November 11th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, BidaskClub upgraded Gladstone Commercial from a “strong sell” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Gladstone Commercial has an average rating of “Hold” and a consensus target price of $23.33.
Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.42). Gladstone Commercial had a net margin of 10.34% and a return on equity of 4.48%. The business had revenue of $28.67 million during the quarter, compared to the consensus estimate of $29.18 million. On average, equities analysts predict that Gladstone Commercial Co. will post 1.55 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.50 annualized dividend and a yield of 6.64%. Gladstone Commercial’s dividend payout ratio (DPR) is presently 94.34%.
Gladstone Commercial Company 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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.
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