Exchange Traded Concepts LLC Boosts Stock Position in Gladstone Commercial Corporation $GOOD

Key Points

• Exchange Traded Concepts LLC increased its holdings in Gladstone Commercial Corporation by 21.4% during Q2, owning approximately $1.6 million worth of stock after acquiring additional shares.
• Gladstone Commercial recently declared a monthly $0.10 dividend, resulting in a 9.3% dividend yield and a payout ratio of 333.33%.
• Shares of Gladstone Commercial are currently trading at $12.88, down 1.2%, with analysts setting an average price target of $15.00.

Exchange Traded Concepts LLC lifted its position in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 21.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,201 shares of the real estate investment trust's stock after buying an additional 19,742 shares during the period. Exchange Traded Concepts LLC owned about 0.24% of Gladstone Commercial worth $1,608,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOD. New York State Teachers Retirement System bought a new position in shares of Gladstone Commercial during the 1st quarter worth approximately $26,000. Lazard Asset Management LLC acquired a new position in Gladstone Commercial during the fourth quarter worth approximately $42,000. Quarry LP raised its position in shares of 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. bought a new position in shares of Gladstone Commercial during the fourth quarter worth approximately $97,000. Finally, Strs Ohio acquired a new stake in Gladstone Commercial in the 1st quarter worth about $120,000. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Gladstone Commercial presently has an average rating of "Buy" and a consensus price target of $15.00.

Gladstone Commercial Price Performance

NASDAQ:GOOD traded down $0.09 during trading hours on Monday, hitting $12.79. The stock had a trading volume of 334,142 shares, compared to its average volume of 437,755. The company has a 50 day simple moving average of $13.26 and a two-hundred day simple moving average of $13.95. The firm has a market capitalization of $595.50 million, a price-to-earnings ratio of 35.53, a P/E/G ratio of 1.44 and a beta of 1.16. The company has a debt-to-equity ratio of 4.50, a current ratio of 2.91 and a quick ratio of 2.91. Gladstone Commercial Corporation has a one year low of $12.67 and a one year high of $17.88.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $39.53 million during 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%. Research analysts forecast 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 $0.10 dividend. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date was Monday, July 21st. Gladstone Commercial's dividend payout ratio is 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.