Sumitomo Mitsui Trust Group Inc. Decreases Stake in Gladstone Commercial Co. (NASDAQ:GOOD)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,515 shares of the real estate investment trust’s stock after selling 1,218 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Gladstone Commercial worth $674,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Gladstone Commercial during the 3rd quarter worth about $2,306,000. Asset Management One Co. Ltd. lifted its holdings in shares of Gladstone Commercial by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 58,177 shares of the real estate investment trust’s stock worth $945,000 after purchasing an additional 2,209 shares during the period. EMC Capital Management lifted its holdings in shares of Gladstone Commercial by 374.8% during the third quarter. EMC Capital Management now owns 34,840 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 27,502 shares during the period. Ballentine Partners LLC boosted its position in Gladstone Commercial by 11.4% in the third quarter. Ballentine Partners LLC now owns 15,838 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 1,624 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Gladstone Commercial by 1,524.0% in the 3rd quarter. International Assets Investment Management LLC now owns 37,644 shares of the real estate investment trust’s stock worth $611,000 after buying an additional 35,326 shares during the period. 45.51% of the stock is owned by institutional investors and hedge funds.

Gladstone Commercial Price Performance

Shares of NASDAQ GOOD opened at $17.17 on Wednesday. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The stock has a market capitalization of $754.11 million, a price-to-earnings ratio of 85.85, a PEG ratio of 1.99 and a beta of 1.21. The firm’s 50 day simple moving average is $16.24 and its 200-day simple moving average is $15.13. Gladstone Commercial Co. has a 12 month low of $11.89 and a 12 month high of $17.53.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.99%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s payout ratio is currently 600.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOD shares. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. B. Riley reaffirmed a “neutral” rating and issued a $15.00 price target (up from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

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.