State Street Corp Raises Stock Holdings in Gladstone Commercial Co. (NASDAQ:GOOD)

State Street Corp boosted its stake in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 3.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,051,383 shares of the real estate investment trust’s stock after purchasing an additional 36,616 shares during the quarter. State Street Corp’s holdings in Gladstone Commercial were worth $17,074,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in Gladstone Commercial by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock worth $7,168,000 after purchasing an additional 117,988 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Gladstone Commercial in the 3rd quarter worth $2,306,000. Renaissance Technologies LLC grew its stake in Gladstone Commercial by 2.5% during the 2nd 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 acquired a new position in Gladstone Commercial during the 3rd quarter valued at about $612,000. Finally, International Assets Investment Management LLC raised its stake in 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 buying an additional 35,326 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOD. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. B. Riley reiterated a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. Finally, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Gladstone Commercial Stock Performance

Shares of NASDAQ GOOD opened at $16.09 on Wednesday. The company has a market capitalization of $706.66 million, a PE ratio of 80.45, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. The company’s fifty day moving average price is $16.73 and its 200 day moving average price is $15.58. Gladstone Commercial Co. has a 1 year low of $11.89 and a 1 year high of $17.88.

Gladstone Commercial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is presently 600.00%.

Gladstone Commercial 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.