Public Employees Retirement System of Ohio bought a new stake in Gladstone Commercial Corporation (NASDAQ:GOOD – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,834 shares of the real estate investment trust’s stock, valued at approximately $674,000. Public Employees Retirement System of Ohio owned about 0.11% of Gladstone Commercial at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in Gladstone Commercial during the 2nd quarter worth approximately $895,000. Odyssean LLC bought a new stake in shares of Gladstone Commercial in the 2nd quarter valued at $258,000. Man Group plc acquired a new stake in shares of Gladstone Commercial during the second quarter worth $1,018,000. Jupiter Topco LLC acquired a new stake in shares of Gladstone Commercial during the second quarter worth $203,000. Finally, Canada Pension Plan Investment Board bought a new position in Gladstone Commercial during the second quarter worth $125,000. Institutional investors and hedge funds own 45.51% of the company’s stock.
Wall Street Analyst Weigh In
GOOD has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gladstone Commercial in a research report on Monday, August 24th. Huntington began coverage on Gladstone Commercial in a report on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 target price for the company. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.83.
Gladstone Commercial Trading Down 1.8%
NASDAQ:GOOD opened at $12.86 on Thursday. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 5.43. The stock has a market capitalization of $622.55 million, a price-to-earnings ratio of 49.46 and a beta of 1.08. The firm has a fifty day simple moving average of $12.85 and a two-hundred day simple moving average of $12.51. Gladstone Commercial Corporation has a 12 month low of $10.33 and a 12 month high of $13.28.
Gladstone Commercial (NASDAQ:GOOD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm had revenue of $43.99 million for the quarter, compared to analyst estimates of $42.18 million. Gladstone Commercial had a net margin of 14.55% and a return on equity of 14.61%. Analysts expect that Gladstone Commercial Corporation will post 1.39 EPS for the current fiscal year.
Gladstone Commercial Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a yield of 9.3%. Gladstone Commercial’s dividend payout ratio (DPR) is 461.54%.
Gladstone Commercial Company Profile
Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on the acquisition and long‐term ownership of industrial and office properties throughout the United States. The company’s portfolio emphasizes both single‐tenant net‐leased investments and multi‐tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.
The company’s primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.
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