Bank of New York Mellon Corp Purchases 50,052 Shares of Gladstone Commercial Co. (NASDAQ:GOOD)

Bank of New York Mellon Corp increased its stake in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 39.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,473 shares of the real estate investment trust’s stock after buying an additional 50,052 shares during the period. Bank of New York Mellon Corp’s holdings in Gladstone Commercial were worth $2,882,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Gladstone Commercial in the 3rd quarter valued at $612,000. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $7,168,000 after acquiring an additional 117,988 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Gladstone Commercial by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 69,008 shares of the real estate investment trust’s stock valued at $1,120,000 after acquiring an additional 12,865 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Gladstone Commercial by 11.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 21,304 shares of the real estate investment trust’s stock valued at $346,000 after purchasing an additional 2,217 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in Gladstone Commercial by 11.3% in the 3rd quarter. D.A. Davidson & CO. now owns 30,445 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 3,081 shares during the last quarter. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Price Performance

Shares of GOOD stock opened at $14.87 on Friday. The company has a quick ratio of 3.54, a current ratio of 5.68 and a debt-to-equity ratio of 4.05. The company has a market cap of $657.15 million, a P/E ratio of 57.19, a P/E/G ratio of 1.82 and a beta of 1.24. Gladstone Commercial Co. has a twelve month low of $12.85 and a twelve month high of $17.88. The business has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $16.19.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.24. The firm had revenue of $37.38 million for the quarter, compared to analyst estimates of $38.04 million. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. On average, sell-side analysts forecast that Gladstone Commercial Co. will post 1.45 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, January 24th. This represents a dividend yield of 7.48%. Gladstone Commercial’s dividend payout ratio is currently 461.54%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

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.