Central Pacific Bank Trust Division Invests $64,000 in Gladstone Commercial Co. (NASDAQ:GOOD)

Central Pacific Bank Trust Division bought a new position in Gladstone Commercial Co. (NASDAQ:GOOD) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,670 shares of the real estate investment trust’s stock, valued at approximately $64,000.

Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Gladstone Commercial by 2,656.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock worth $6,995,000 after acquiring an additional 509,133 shares during the period. Exchange Traded Concepts LLC boosted its stake in Gladstone Commercial by 28.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 193,818 shares of the real estate investment trust’s stock worth $2,566,000 after purchasing an additional 42,404 shares during the period. International Assets Investment Management LLC purchased a new stake in Gladstone Commercial during the 4th quarter valued at approximately $406,000. Valeo Financial Advisors LLC bought a new stake in shares of Gladstone Commercial during the fourth quarter valued at approximately $310,000. Finally, Tritonpoint Wealth LLC purchased a new position in shares of Gladstone Commercial in the fourth quarter worth $220,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Gladstone Commercial from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Alliance Global Partners assumed coverage on Gladstone Commercial in a research note on Monday, March 18th. They set a “buy” rating and a $15.50 price target for the company.

Gladstone Commercial Trading Up 0.2 %

GOOD stock opened at $14.31 on Thursday. The firm has a market cap of $573.12 million, a PE ratio of -75.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.19. The firm has a fifty day moving average price of $14.25 and a 200 day moving average price of $13.51. The company has a debt-to-equity ratio of 4.85, a quick ratio of 3.67 and a current ratio of 3.67. Gladstone Commercial Co. has a fifty-two week low of $11.40 and a fifty-two week high of $15.04.

Gladstone Commercial (NASDAQ:GOOD) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.33). The business had revenue of $35.72 million for the quarter, compared to analysts’ expectations of $36.41 million. Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. Sell-side analysts anticipate that Gladstone Commercial Co. will post 1.36 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 22nd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date is Monday, July 22nd. Gladstone Commercial’s dividend payout ratio (DPR) is -631.58%.

About Gladstone Commercial

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.