Martingale Asset Management L P Makes New Investment in Gladstone Commercial Co. (NASDAQ:GOOD)

Martingale Asset Management L P acquired a new position in Gladstone Commercial Co. (NASDAQ:GOOD) during the third quarter, according to its most recent filing with the SEC. The firm acquired 58,290 shares of the real estate investment trust’s stock, valued at approximately $947,000.

Several other hedge funds have also recently made changes to their positions in GOOD. Vanguard Group Inc. raised its position in shares of Gladstone Commercial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after acquiring an additional 53,802 shares in the last quarter. Renaissance Technologies LLC lifted its position in Gladstone Commercial by 2.5% during the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock valued at $20,122,000 after buying an additional 34,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Gladstone Commercial by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 567,878 shares of the real estate investment trust’s stock valued at $8,103,000 after buying an additional 14,452 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Gladstone Commercial by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock worth $7,168,000 after buying an additional 117,988 shares during the period. Finally, LSV Asset Management grew its position in shares of Gladstone Commercial by 1.5% in the 2nd quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock worth $4,679,000 after buying an additional 4,800 shares during the period. 45.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Monday. Finally, B. Riley reiterated a “neutral” rating and set a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th.

Gladstone Commercial Price Performance

NASDAQ GOOD opened at $17.52 on Tuesday. The company has a 50-day moving average price of $16.53 and a 200-day moving average price of $15.33. Gladstone Commercial Co. has a 52 week low of $11.89 and a 52 week high of $17.88. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The firm has a market capitalization of $769.48 million, a P/E ratio of 87.60, a PEG ratio of 2.05 and a beta of 1.21.

Gladstone Commercial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.85%. Gladstone Commercial’s payout ratio is currently 600.00%.

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.