Tritonpoint Wealth LLC Buys 1,000 Shares of Gladstone Commercial Corporation $GOOD

Tritonpoint Wealth LLC lifted its stake in Gladstone Commercial Corporation (NASDAQ:GOOD) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,535 shares of the real estate investment trust’s stock after acquiring an additional 1,000 shares during the period. Tritonpoint Wealth LLC’s holdings in Gladstone Commercial were worth $208,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its holdings in shares of Gladstone Commercial by 4.4% in the second quarter. State of Alaska Department of Revenue now owns 22,102 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 932 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Gladstone Commercial in the second quarter worth $945,000. Ballentine Partners LLC boosted its holdings in shares of Gladstone Commercial by 108.7% in the second quarter. Ballentine Partners LLC now owns 33,017 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 17,194 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Gladstone Commercial by 21.4% in the second quarter. Exchange Traded Concepts LLC now owns 112,201 shares of the real estate investment trust’s stock worth $1,608,000 after acquiring an additional 19,742 shares during the period. Finally, Strs Ohio bought a new stake in Gladstone Commercial during the first quarter valued at $120,000. 45.51% of the stock is owned by institutional investors.

Gladstone Commercial Trading Down 0.8%

Shares of GOOD stock opened at $12.21 on Tuesday. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 4.50. The business has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $13.86. Gladstone Commercial Corporation has a 12-month low of $12.18 and a 12-month high of $17.88. The firm has a market cap of $568.49 million, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16.

Gladstone Commercial (NASDAQ:GOOD) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.35. Gladstone Commercial had a return on equity of 16.37% and a net margin of 18.67%.The firm had revenue of $39.53 million during the quarter, compared to analyst estimates of $38.32 million. Equities analysts anticipate that Gladstone Commercial Corporation will post 1.45 EPS for the current fiscal year.

Gladstone Commercial Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a c) annualized dividend and a yield of 9.8%. Gladstone Commercial’s payout ratio is 333.33%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Gladstone Commercial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Gladstone Commercial presently has a consensus rating of “Buy” and an average price target of $15.00.

About Gladstone Commercial

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.