State Street Corp Buys 36,616 Shares of Gladstone Commercial Co. (NASDAQ:GOOD)

State Street Corp grew its stake in Gladstone Commercial Co. (NASDAQ:GOOD) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,051,383 shares of the real estate investment trust’s stock after acquiring an additional 36,616 shares during the quarter. State Street Corp owned 2.39% of Gladstone Commercial worth $17,074,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Gladstone Commercial by 2.5% in 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 purchasing an additional 34,400 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Gladstone Commercial by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 567,878 shares of the real estate investment trust’s stock worth $8,103,000 after buying an additional 14,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Gladstone Commercial by 36.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock valued at $7,168,000 after buying an additional 117,988 shares during the last quarter. LSV Asset Management grew its holdings in shares of Gladstone Commercial by 1.5% during the second quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock valued at $4,679,000 after buying an additional 4,800 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Gladstone Commercial by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock valued at $2,277,000 after acquiring an additional 1,327 shares in the last quarter. 45.51% of the stock is owned by hedge funds and other institutional investors.

Gladstone Commercial Price Performance

NASDAQ:GOOD opened at $16.09 on Wednesday. The business’s 50-day moving average is $16.73 and its 200 day moving average is $15.58. Gladstone Commercial Co. has a 12 month low of $11.89 and a 12 month high of $17.88. The company has a market capitalization of $706.66 million, a P/E ratio of 80.45, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10.

Gladstone Commercial Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. B. Riley reaffirmed a “neutral” rating and set a $15.00 price target (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th.

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.