D.A. Davidson & CO. Raises Stock Position in Gladstone Commercial Co. (NASDAQ:GOOD)

D.A. Davidson & CO. grew its holdings in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 11.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,445 shares of the real estate investment trust’s stock after acquiring an additional 3,081 shares during the quarter. D.A. Davidson & CO.’s holdings in Gladstone Commercial were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Gladstone Commercial by 1.3% during the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock valued at $55,999,000 after purchasing an additional 53,802 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Gladstone Commercial during the 3rd quarter valued at $2,306,000. Renaissance Technologies LLC lifted its position in Gladstone Commercial by 2.5% in the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock worth $20,122,000 after buying an additional 34,400 shares during the last quarter. Quest Partners LLC purchased a new position in Gladstone Commercial during the third quarter worth $612,000. Finally, International Assets Investment Management LLC raised its stake in shares of Gladstone Commercial by 1,524.0% in the third quarter. International Assets Investment Management LLC now owns 37,644 shares of the real estate investment trust’s stock valued at $611,000 after acquiring an additional 35,326 shares during the period. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Stock Down 1.1 %

Shares of NASDAQ GOOD opened at $17.33 on Wednesday. The stock has a 50 day moving average price of $16.56 and a 200 day moving average price of $15.35. The firm has a market capitalization of $761.13 million, a price-to-earnings ratio of 86.65, a PEG ratio of 2.04 and a beta of 1.24. Gladstone Commercial Co. has a 52-week low of $11.89 and a 52-week high of $17.88. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54.

Gladstone Commercial Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Monday. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. Finally, B. Riley reiterated a “neutral” rating and issued a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th.

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.