Russell Investments Group Ltd. Sells 34,138 Shares of Gladstone Commercial Corporation $GOOD

Key Points

• Russell Investments Group Ltd. decreased its holdings in Gladstone Commercial Corporation (NASDAQ:GOOD) by 42.8%, now owning approximately 0.10% of the company valued at $683,000.
• Vanguard Group Inc. and Charles Schwab Investment Management Inc. increased their stakes in Gladstone Commercial by 5.7% and 22.2% respectively during the first quarter, indicating growing institutional interest in the stock.
• Wall Street Zen downgraded Gladstone Commercial from a "hold" to a "sell" rating, while the stock currently holds a consensus rating of "Buy" with a target price of $15.00.

Russell Investments Group Ltd. lessened its stake in shares of Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 42.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 45,626 shares of the real estate investment trust's stock after selling 34,138 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Gladstone Commercial worth $683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC raised its stake in Gladstone Commercial by 103.1% in the 4th quarter. Millennium Management LLC now owns 40,937 shares of the real estate investment trust's stock worth $665,000 after purchasing an additional 20,776 shares in the last quarter. SG Americas Securities LLC raised its stake in Gladstone Commercial by 384.0% during the first quarter. SG Americas Securities LLC now owns 83,441 shares of the real estate investment trust's stock worth $1,250,000 after acquiring an additional 66,201 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gladstone Commercial by 12.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,450 shares of the real estate investment trust's stock worth $463,000 after acquiring an additional 3,210 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Gladstone Commercial in the 1st quarter valued at approximately $547,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Gladstone Commercial by 36.0% during the 4th 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 purchasing an additional 16,422 shares during the last quarter. Institutional investors own 45.51% of the company's stock.

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 equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $15.00.

Gladstone Commercial Trading Down 0.1%

NASDAQ GOOD traded down $0.02 during trading hours on Wednesday, reaching $13.31. The company's stock had a trading volume of 337,196 shares, compared to its average volume of 374,399. The firm has a fifty day simple moving average of $13.62 and a 200-day simple moving average of $14.24. 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 52 week low of $12.67 and a 52 week high of $17.88. The stock has a market cap of $619.48 million, a P/E ratio of 36.96, a P/E/G 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $39.53 million during the quarter, compared to analysts' expectations of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. Equities 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 disclosed a monthly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 21st were issued a $0.10 dividend. This represents a c) dividend on an annualized basis and a yield of 9.0%. The ex-dividend date was Monday, July 21st. Gladstone Commercial's dividend payout ratio is presently 333.33%.

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.