Private Advisor Group LLC Makes New Investment in Gladstone Commercial Co. (NASDAQ:GOOD)
Private Advisor Group LLC purchased a new position in Gladstone Commercial Co. (NASDAQ:GOOD – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 51,360 shares of the real estate investment trust’s stock, valued at approximately $649,000. Private Advisor Group LLC owned approximately 0.13% of Gladstone Commercial as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Gladstone Commercial in the first quarter worth about $30,000. Parallel Advisors LLC lifted its stake in shares of Gladstone Commercial by 1,428.4% in the fourth quarter. Parallel Advisors LLC now owns 1,452 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,357 shares in the last quarter. Money Concepts Capital Corp acquired a new stake in Gladstone Commercial during the fourth quarter valued at approximately $30,000. Federated Hermes Inc. acquired a new stake in Gladstone Commercial during the first quarter valued at approximately $37,000. Finally, FMR LLC raised its stake in Gladstone Commercial by 22.6% during the second quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 911 shares in the last quarter. Institutional investors and hedge funds own 46.33% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. B. Riley cut their price objective on Gladstone Commercial from $18.00 to $15.00 in a research note on Monday, May 8th. StockNews.com assumed coverage on Gladstone Commercial in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.83.
Gladstone Commercial Stock Down 1.6 %
NASDAQ:GOOD opened at $13.15 on Friday. The firm has a market capitalization of $524.95 million, a PE ratio of -50.58, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. The stock has a 50 day moving average of $13.11 and a 200-day moving average of $12.77. Gladstone Commercial Co. has a 52 week low of $10.84 and a 52 week high of $20.12. The company has a current ratio of 4.92, a quick ratio of 4.92 and a debt-to-equity ratio of 4.10.
Gladstone Commercial (NASDAQ:GOOD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.55). Gladstone Commercial had a return on equity of 1.07% and a net margin of 1.40%. The business had revenue of $38.66 million during the quarter, compared to the consensus estimate of $37.20 million. Analysts predict that Gladstone Commercial Co. will post 1.5 EPS for the current year.
Gladstone Commercial Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date of this dividend is Wednesday, September 20th. Gladstone Commercial’s dividend payout ratio (DPR) is -461.54%.
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.
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