Gladstone Commercial Corporation $GOOD Holdings Lifted by Exchange Traded Concepts LLC

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 grew its position in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,201 shares of the real estate investment trust's stock after purchasing an additional 19,742 shares during the period. Exchange Traded Concepts LLC owned approximately 0.24% of Gladstone Commercial worth $1,608,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Gladstone Commercial in the 1st quarter worth about $26,000. Lazard Asset Management LLC bought a new position in Gladstone Commercial in the 4th quarter worth about $42,000. Quarry LP grew its position in Gladstone Commercial by 99.1% in the 1st quarter. Quarry LP now owns 5,928 shares of the real estate investment trust's stock worth $89,000 after purchasing an additional 2,951 shares during the last quarter. Ameriflex Group Inc. bought a new position in Gladstone Commercial in the 4th quarter worth about $97,000. Finally, Strs Ohio bought a new position in Gladstone Commercial in the 1st quarter worth about $120,000. Institutional investors own 45.51% of the company's stock.

Gladstone Commercial Stock Down 1.2%

Shares of NASDAQ:GOOD opened at $12.88 on Monday. The company has a debt-to-equity ratio of 4.50, a quick ratio of 2.91 and a current ratio of 2.91. The company has a market cap of $599.69 million, a PE ratio of 35.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. Gladstone Commercial Corporation has a 52 week low of $12.67 and a 52 week high of $17.88. The firm has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $13.97.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $39.53 million during the quarter, compared to the consensus estimate of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. As a group, research analysts expect that Gladstone Commercial Corporation will post 1.45 earnings per share for the current year.

Gladstone Commercial Dividend Announcement

The company also recently declared 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 9.3%. The ex-dividend date was Monday, July 21st. Gladstone Commercial's dividend payout ratio is 333.33%.

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.