Bank of New York Mellon Corp Acquires 1,327 Shares of Gladstone Commercial Co. (NASDAQ:GOOD)

Bank of New York Mellon Corp increased its holdings in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 159,547 shares of the real estate investment trust’s stock after purchasing an additional 1,327 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Gladstone Commercial worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Freestone Capital Holdings LLC bought a new position in Gladstone Commercial during the 1st quarter valued at about $1,107,000. GSA Capital Partners LLP lifted its position in Gladstone Commercial by 436.0% during the first quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust’s stock valued at $1,302,000 after purchasing an additional 76,499 shares during the period. Vanguard Group Inc. boosted its holdings in Gladstone Commercial by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after purchasing an additional 53,802 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Gladstone Commercial by 68.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 2,828 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Gladstone Commercial during the 1st quarter valued at $113,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

Gladstone Commercial Stock Up 0.6 %

Shares of GOOD stock opened at $16.13 on Tuesday. 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 Co. has a 12 month low of $11.40 and a 12 month high of $16.20. The stock has a market cap of $646.07 million, a P/E ratio of -84.89, a P/E/G ratio of 1.86 and a beta of 1.21. The company has a 50 day simple moving average of $14.88 and a two-hundred day simple moving average of $14.18.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share 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 company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. During the same quarter last year, the firm posted $0.41 earnings per share. On average, research analysts expect that Gladstone Commercial Co. will post 1.38 earnings per share for the current year.

Gladstone Commercial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.44%. Gladstone Commercial’s dividend payout ratio (DPR) is presently -631.58%.

Analyst Upgrades and Downgrades

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

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.