Arrowstreet Capital Limited Partnership Trims Stake in Gladstone Commercial Corporation $GOOD

Key Points

• Arrowstreet Capital reduced its Gladstone Commercial stake by 27.5% in the first quarter, selling 137,323 shares and retaining 361,246 shares worth approximately $4.13 million. Institutional investors collectively own 45.51% of the REIT.
• Analysts maintain a consensus “Hold” rating on GOOD, with an average price target of $12.83; Huntington initiated coverage with a $13.00 target.
• Gladstone Commercial reported quarterly EPS of $0.35, well above the $0.05 consensus estimate, and declared a monthly $0.10-per-share dividend, implying a roughly 9.6% annualized yield.

Arrowstreet Capital Limited Partnership trimmed its position in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 27.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 361,246 shares of the real estate investment trust's stock after selling 137,323 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.75% of Gladstone Commercial worth $4,129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Gladstone Commercial by 1.6% during the 1st quarter. AQR Capital Management LLC now owns 121,125 shares of the real estate investment trust's stock worth $1,814,000 after acquiring an additional 1,907 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Gladstone Commercial by 525.8% during the first quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust's stock valued at $3,838,000 after purchasing an additional 215,245 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Gladstone Commercial during the first quarter valued at approximately $205,000. Jane Street Group LLC bought a new position in Gladstone Commercial in the first quarter worth approximately $1,805,000. Finally, Strs Ohio purchased a new stake in Gladstone Commercial during the first quarter worth $120,000. Hedge funds and other institutional investors own 45.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOD. Weiss Ratings upgraded Gladstone Commercial from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Huntington started coverage on Gladstone Commercial in a research note on Wednesday, July 15th. They issued a "market perform" rating and a $13.00 target price on the stock. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Gladstone Commercial has a consensus rating of "Hold" and an average target price of $12.83.

Gladstone Commercial Stock Performance

Shares of Gladstone Commercial stock opened at $12.47 on Tuesday. The company has a 50 day moving average price of $12.58 and a 200 day moving average price of $12.25. The firm has a market capitalization of $603.67 million, a P/E ratio of 69.28 and a beta of 1.06. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 5.13. Gladstone Commercial Corporation has a 52 week low of $10.33 and a 52 week high of $13.47.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.30. The business had revenue of $41.91 million for the quarter, compared to analyst estimates of $42.94 million. Gladstone Commercial had a net margin of 12.74% and a return on equity of 12.11%. Sell-side analysts expect that Gladstone Commercial Corporation will post 1.41 EPS for the current year.

Gladstone Commercial Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date is Monday, September 21st. Gladstone Commercial's payout ratio is presently 666.67%.

About Gladstone Commercial

Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on the acquisition and long‐term ownership of industrial and office properties throughout the United States. The company's portfolio emphasizes both single‐tenant net‐leased investments and multi‐tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.

The company's primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.

Want to see what other hedge funds are holding GOOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.