Nuveen LLC Purchases New Holdings in Gladstone Commercial Corporation $GOOD

Key Points

• Nuveen LLC has acquired a new stake in Gladstone Commercial Corporation, purchasing 111,371 shares valued at approximately $1.67 million, representing 0.24% of the company.
• Shares of Gladstone Commercial have been downgraded from a "hold" to a "sell" rating by Wall Street Zen, although there is still a consensus rating of "Buy" with an average target price of $15.00.
• Gladstone Commercial recently declared a monthly dividend of $0.10 per share, providing an annualized yield of 8.9%, with a payout ratio of 333.33%.

Nuveen LLC bought a new stake in Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 111,371 shares of the real estate investment trust's stock, valued at approximately $1,668,000. Nuveen LLC owned about 0.24% of Gladstone Commercial at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of Gladstone Commercial by 103.1% during the fourth quarter. Millennium Management LLC now owns 40,937 shares of the real estate investment trust's stock valued at $665,000 after acquiring an additional 20,776 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Gladstone Commercial by 384.0% during the 1st quarter. SG Americas Securities LLC now owns 83,441 shares of the real estate investment trust's stock worth $1,250,000 after purchasing an additional 66,201 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gladstone Commercial by 12.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,450 shares of the real estate investment trust's stock worth $463,000 after buying an additional 3,210 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Gladstone Commercial during the first quarter worth about $547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gladstone Commercial by 36.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,097 shares of the real estate investment trust's stock valued at $1,008,000 after acquiring an additional 16,422 shares during the last quarter. 45.51% of the stock is owned by institutional investors.

Gladstone Commercial Price Performance

Shares of GOOD stock traded down $0.02 on Wednesday, reaching $13.31. The company's stock had a trading volume of 234,536 shares, compared to its average volume of 374,321. Gladstone Commercial Corporation has a 1 year low of $12.67 and a 1 year high of $17.88. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 4.50. The stock's fifty day simple moving average is $13.62 and its 200-day simple moving average is $14.24. The company has a market capitalization of $619.48 million, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 1.50 and a beta of 1.16.

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

Gladstone Commercial Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were issued a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 9.0%. The ex-dividend date was Monday, July 21st. Gladstone Commercial's dividend payout ratio is presently 333.33%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered 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 company. Based on data from MarketBeat.com, Gladstone Commercial presently has a consensus rating of "Buy" and a consensus price target of $15.00.

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.