Raymond James Financial Inc. Makes New Investment in Gladstone Commercial Co. (NASDAQ:GOOD)

Raymond James Financial Inc. purchased a new position in Gladstone Commercial Co. (NASDAQ:GOOD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,177 shares of the real estate investment trust’s stock, valued at approximately $295,000.

Several other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in Gladstone Commercial by 51.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,966 shares of the real estate investment trust’s stock worth $10,848,000 after acquiring an additional 226,602 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Gladstone Commercial during the 4th quarter valued at $1,471,000. JPMorgan Chase & Co. increased its holdings in shares of Gladstone Commercial by 78.9% in the third quarter. JPMorgan Chase & Co. now owns 181,118 shares of the real estate investment trust’s stock worth $2,941,000 after purchasing an additional 79,893 shares during the period. Bank of New York Mellon Corp raised its position in shares of Gladstone Commercial by 39.3% in the fourth quarter. Bank of New York Mellon Corp now owns 177,473 shares of the real estate investment trust’s stock worth $2,882,000 after buying an additional 50,052 shares in the last quarter. Finally, Barclays PLC boosted its stake in Gladstone Commercial by 323.4% during the third quarter. Barclays PLC now owns 62,132 shares of the real estate investment trust’s stock valued at $1,009,000 after buying an additional 47,456 shares during the period. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Commercial Trading Down 2.9 %

Shares of GOOD opened at $13.30 on Friday. Gladstone Commercial Co. has a 1-year low of $12.67 and a 1-year high of $17.88. The company has a market capitalization of $608.57 million, a P/E ratio of 51.15, a P/E/G ratio of 1.82 and a beta of 1.17. The company has a debt-to-equity ratio of 4.05, a current ratio of 5.68 and a quick ratio of 3.54. The firm’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $16.03.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.24. Gladstone Commercial had a net margin of 16.09% and a return on equity of 15.16%. The firm had revenue of $37.38 million for the quarter, compared to analysts’ expectations of $38.04 million. Sell-side analysts forecast that Gladstone Commercial Co. will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 21st will be issued a $0.10 dividend. The ex-dividend date is Monday, April 21st. Gladstone Commercial’s payout ratio is currently 461.54%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

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.