Goldman Sachs Group Inc. Cuts Stock Position in Gladstone Commercial Corporation $GOOD

Goldman Sachs Group Inc. trimmed its position in Gladstone Commercial Corporation (NASDAQ:GOOD) by 33.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,942 shares of the real estate investment trust’s stock after selling 153,564 shares during the period. Goldman Sachs Group Inc. owned approximately 0.65% of Gladstone Commercial worth $4,508,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. New York State Teachers Retirement System acquired a new stake in shares of Gladstone Commercial in the 1st quarter worth $26,000. Lazard Asset Management LLC purchased a new position in Gladstone Commercial during the fourth quarter worth about $42,000. Quarry LP lifted its position in Gladstone Commercial by 99.1% in the first quarter. Quarry LP now owns 5,928 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 2,951 shares during the period. Ameriflex Group Inc. purchased a new stake in Gladstone Commercial in the 4th quarter valued at approximately $97,000. Finally, Strs Ohio acquired a new position in Gladstone Commercial during the 1st quarter worth approximately $120,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Gladstone Commercial from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Gladstone Commercial currently has a consensus rating of “Buy” and an average price target of $15.00.

Gladstone Commercial Stock Up 0.4%

GOOD stock opened at $12.95 on Thursday. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.91 and a quick ratio of 2.91. The company’s 50 day simple moving average is $13.33 and its 200-day simple moving average is $14.03. Gladstone Commercial Corporation has a 12 month low of $12.67 and a 12 month high of $17.88. The firm has a market capitalization of $602.94 million, a PE ratio of 35.97, a P/E/G ratio of 1.44 and a beta of 1.16.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $39.53 million for the quarter, compared to analyst estimates of $38.32 million. Gladstone Commercial had a return on equity of 16.37% and a net margin of 18.67%. Equities analysts expect that Gladstone Commercial Corporation will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were given a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date was Monday, July 21st. Gladstone Commercial’s dividend payout ratio (DPR) is currently 333.33%.

Gladstone Commercial Company 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. Including payments through January 2024, Gladstone Commercial has paid 229 consecutive monthly cash distributions on its common stock.