Bank of New York Mellon Corp Takes Position in Gladstone Commercial Corporation $GOOD

Key Points

• Bank of New York Mellon acquired 215,305 shares of Gladstone Commercial, worth approximately $2.65 million and representing about 0.44% of the REIT. Institutional investors collectively own 45.51% of the company.
• Gladstone Commercial exceeded quarterly expectations, reporting adjusted EPS of $0.11 versus the $0.04 consensus and revenue of $43.99 million versus estimates of $42.18 million.
• The company declared a monthly dividend of $0.10 per share, implying an approximately 9.2% annualized yield. Analysts maintain a consensus “Hold” rating with a $12.83 target price, below the stock’s reported $13.11 opening price.

Bank of New York Mellon Corp acquired a new position in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 215,305 shares of the real estate investment trust's stock, valued at approximately $2,648,000. Bank of New York Mellon Corp owned approximately 0.44% of Gladstone Commercial as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Gladstone Commercial by 1.6% in the first quarter. AQR Capital Management LLC now owns 121,125 shares of the real estate investment trust's stock valued at $1,814,000 after acquiring an additional 1,907 shares in the last quarter. Millennium Management LLC raised its position in shares of Gladstone Commercial by 525.8% in the 1st 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 during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gladstone Commercial in the 1st quarter valued at approximately $205,000. Jane Street Group LLC acquired a new stake in Gladstone Commercial in the 1st quarter worth approximately $1,805,000. Finally, Strs Ohio acquired a new stake in Gladstone Commercial in the 1st quarter worth approximately $120,000. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $13.11 on Tuesday. The stock has a market cap of $634.66 million, a PE ratio of 50.43 and a beta of 1.08. Gladstone Commercial Corporation has a 52-week low of $10.33 and a 52-week high of $13.37. The business has a 50-day simple moving average of $12.83 and a 200-day simple moving average of $12.49. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 5.43.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.07. The company had revenue of $43.99 million during the quarter, compared to the consensus estimate of $42.18 million. Gladstone Commercial had a return on equity of 14.61% and a net margin of 14.55%. On average, equities analysts expect that Gladstone Commercial Corporation will post 1.39 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a $0.10 dividend. The ex-dividend date is Monday, September 21st. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. Gladstone Commercial's dividend payout ratio is 461.54%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOD shares. Huntington started coverage on shares of Gladstone Commercial in a research note on Wednesday, July 15th. They set a "market perform" rating and a $13.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Gladstone Commercial in a research note on Monday, August 24th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Gladstone Commercial has a consensus rating of "Hold" and a consensus target price of $12.83.

Gladstone Commercial Profile

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.

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