B. Riley Wealth Advisors Inc. Lowers Stake in Gladstone Commercial Co. (NASDAQ:GOOD)

B. Riley Wealth Advisors Inc. lessened its holdings in Gladstone Commercial Co. (NASDAQ:GOOD) by 12.7% during the second quarter, Holdings Channel.com reports. The firm owned 139,867 shares of the real estate investment trust’s stock after selling 20,403 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Gladstone Commercial were worth $1,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Gladstone Commercial in the 2nd quarter worth approximately $33,000. Central Pacific Bank Trust Division purchased a new stake in shares of Gladstone Commercial in the first quarter worth $64,000. PNC Financial Services Group Inc. increased its holdings in shares of Gladstone Commercial by 68.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 2,828 shares in the last quarter. Evermay Wealth Management LLC raised its position in shares of Gladstone Commercial by 82.4% in the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 3,475 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Gladstone Commercial in the 1st quarter worth about $113,000. Institutional investors own 45.51% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Gladstone Commercial Stock Performance

Shares of GOOD opened at $16.09 on Thursday. The company has a market cap of $644.47 million, a price-to-earnings ratio of -84.68, a P/E/G ratio of 1.91 and a beta of 1.21. The business’s fifty day simple moving average is $15.23 and its two-hundred day simple moving average is $14.42. Gladstone Commercial Co. has a 12 month low of $11.40 and a 12 month high of $16.43. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The business had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same period last year, the business earned $0.41 earnings per share. Research analysts anticipate that Gladstone Commercial Co. will post 1.38 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.20 annualized dividend and a dividend yield of 7.46%. Gladstone Commercial’s payout ratio is -631.58%.

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 January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.