Freestone Capital Holdings LLC Buys New Stake in Gladstone Commercial Co. (NASDAQ:GOOD)

Freestone Capital Holdings LLC bought a new stake in Gladstone Commercial Co. (NASDAQ:GOOD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,000 shares of the real estate investment trust’s stock, valued at approximately $1,107,000. Freestone Capital Holdings LLC owned about 0.20% of Gladstone Commercial at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in shares of Gladstone Commercial during the first quarter worth about $64,000. PNC Financial Services Group Inc. grew its holdings in shares of Gladstone Commercial by 68.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 2,828 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Gladstone Commercial by 82.4% during the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 3,475 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Gladstone Commercial during the first quarter worth about $113,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Gladstone Commercial during the fourth quarter worth about $140,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Stock Performance

Shares of NASDAQ GOOD traded up $0.29 during midday trading on Friday, reaching $14.96. 84,817 shares of the company were exchanged, compared to its average volume of 239,873. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 4.85. Gladstone Commercial Co. has a 1 year low of $11.40 and a 1 year high of $15.04. The stock has a fifty day simple moving average of $14.32 and a 200 day simple moving average of $13.62. The stock has a market cap of $599.15 million, a P/E ratio of -78.21, a PEG ratio of 1.79 and a beta of 1.19.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.33). Gladstone Commercial had a return on equity of 3.19% and a net margin of 3.60%. The company had revenue of $35.72 million for the quarter, compared to analysts’ expectations of $36.41 million. On average, research analysts forecast that Gladstone Commercial Co. will post 1.36 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend is Friday, September 20th. Gladstone Commercial’s dividend payout ratio is currently -631.58%.

Analyst Ratings Changes

Separately, StockNews.com raised Gladstone Commercial from a “hold” rating to a “buy” rating in a report on Friday, June 28th.

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.