Bank of New York Mellon Corp raised its stake in Gladstone Commercial Corp. (NASDAQ:GOOD) by 8.3% during the second quarter, Holdings Channel reports. The fund owned 204,639 shares of the real estate investment trust’s stock after buying an additional 15,674 shares during the period. Bank of New York Mellon Corp owned 0.91% of Gladstone Commercial Corp. worth $3,456,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of GOOD. Independent Portfolio Consultants Inc. raised its stake in shares of Gladstone Commercial Corp. by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 8,820 shares of the real estate investment trust’s stock valued at $149,000 after buying an additional 25 shares during the period. Aperio Group LLC raised its stake in shares of Gladstone Commercial Corp. by 17.4% in the first quarter. Aperio Group LLC now owns 18,850 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 2,794 shares during the period. AXA purchased a new stake in shares of Gladstone Commercial Corp. during the first quarter valued at about $388,000. Chicago Equity Partners LLC purchased a new stake in shares of Gladstone Commercial Corp. during the second quarter valued at about $392,000. Finally, Trust Co. of Toledo NA OH raised its stake in shares of Gladstone Commercial Corp. by 14.3% in the second quarter. Trust Co. of Toledo NA OH now owns 23,631 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 2,948 shares during the period. Institutional investors and hedge funds own 39.76% of the company’s stock.
Gladstone Commercial Corp. (NASDAQ:GOOD) traded down 0.79% during midday trading on Thursday, hitting $18.82. The stock had a trading volume of 88,380 shares. The company’s market capitalization is $425.01 million. The stock’s 50-day moving average is $18.19 and its 200-day moving average is $17.26. Gladstone Commercial Corp. has a 1-year low of $12.00 and a 1-year high of $19.15.
Gladstone Commercial Corp. (NASDAQ:GOOD) last announced its earnings results on Monday, July 25th. The real estate investment trust reported $0.38 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.38. Gladstone Commercial Corp. had a return on equity of 1.83% and a net margin of 4.89%. Equities research analysts forecast that Gladstone Commercial Corp. will post $1.55 EPS for the current year.
The business also recently announced a monthly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.50 dividend on an annualized basis and a yield of 7.97%. Gladstone Commercial Corp.’s dividend payout ratio is currently -3,000.00%.
GOOD has been the subject of several research analyst reports. Zacks Investment Research raised Gladstone Commercial Corp. from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, September 2nd. TheStreet raised Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 8th.
In related news, Director Caren D. Merrick bought 2,816 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were bought at an average cost of $17.76 per share, with a total value of $50,012.16. Following the acquisition, the director now owns 2,816 shares in the company, valued at $50,012.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.36% of the stock is owned by corporate insiders.
Gladstone Commercial Corp. Company Profile
Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing office and industrial properties, and making long-term industrial and commercial mortgage loans. The Company’s portfolio of real estate is leased to a section of tenants ranging from small businesses to large public companies.
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