Renaissance Technologies LLC Sells 115,242 Shares of Gladstone Commercial Corporation $GOOD

Renaissance Technologies LLC cut its stake in Gladstone Commercial Corporation (NASDAQ:GOOD) by 9.0% in the first quarter, HoldingsChannel reports. The fund owned 1,170,224 shares of the real estate investment trust’s stock after selling 115,242 shares during the period. Renaissance Technologies LLC’s holdings in Gladstone Commercial were worth $13,376,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in shares of Gladstone Commercial in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its position in Gladstone Commercial by 751.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,788 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,578 shares during the last quarter. Danske Bank A S acquired a new position in Gladstone Commercial during the 4th quarter worth $30,000. Advisory Services Network LLC acquired a new position in Gladstone Commercial during the 3rd quarter worth $34,000. Finally, Parallel Advisors LLC boosted its position in Gladstone Commercial by 71.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,811 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 1,168 shares during the last quarter. 45.51% of the stock is owned by institutional investors.

Gladstone Commercial Stock Down 0.2%

Shares of NASDAQ:GOOD opened at $12.50 on Friday. The company has a debt-to-equity ratio of 5.13, a current ratio of 4.03 and a quick ratio of 4.03. The stock has a market cap of $605.12 million, a price-to-earnings ratio of 69.45 and a beta of 1.07. The company has a 50 day moving average of $12.59 and a 200-day moving average of $12.23. Gladstone Commercial Corporation has a one year low of $10.33 and a one year high of $13.47.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.30. Gladstone Commercial had a net margin of 12.74% and a return on equity of 12.11%. The business had revenue of $41.91 million for the quarter, compared to analyst estimates of $42.94 million. On average, sell-side analysts forecast that Gladstone Commercial Corporation will post 1.41 earnings per share for the current year.

Gladstone Commercial Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a dividend of $0.10 per share. The ex-dividend date is Monday, September 21st. This represents a c) annualized dividend and a dividend yield of 9.6%. Gladstone Commercial’s payout ratio is presently 666.67%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOD shares. Huntington started coverage on Gladstone Commercial in a research note on Wednesday, July 15th. They issued a “market perform” rating and a $13.00 target price for the company. Weiss Ratings raised Gladstone Commercial from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.83.

Gladstone Commercial Company Profile

Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on the acquisition and long‐term ownership of industrial and office properties throughout the United States. The company’s portfolio emphasizes both single‐tenant net‐leased investments and multi‐tenant assets, targeting properties that provide stable, predictable rental income. Gladstone Commercial seeks to grow shareholder value through both internal cash flow from its existing portfolio and strategic property acquisitions in markets with strong occupancy trends.

The company’s primary business activities include identifying, underwriting and acquiring commercial real estate assets that support light industrial users and professional office tenants.