Intrust Bank NA Purchases 7,846 Shares of Gladstone Commercial Co. (NASDAQ:GOOD)

Intrust Bank NA lifted its position in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,279 shares of the real estate investment trust’s stock after buying an additional 7,846 shares during the quarter. Intrust Bank NA owned approximately 0.07% of Gladstone Commercial worth $388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EMC Capital Management lifted its stake in shares of Gladstone Commercial by 363.8% during the 3rd quarter. EMC Capital Management now owns 9,275 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 7,275 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Gladstone Commercial during the 3rd quarter worth $160,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Gladstone Commercial during the 4th quarter worth $161,000. Raymond James & Associates lifted its stake in shares of Gladstone Commercial by 21.9% during the 3rd quarter. Raymond James & Associates now owns 14,297 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 2,568 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Gladstone Commercial by 16.6% during the 4th quarter. New York State Common Retirement Fund now owns 13,563 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 1,932 shares during the last quarter. Institutional investors own 45.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners started coverage on Gladstone Commercial in a research note on Monday, March 18th. They issued a “buy” rating and a $15.50 price target for the company.

Gladstone Commercial Price Performance

Shares of GOOD stock opened at $13.56 on Thursday. The stock’s 50-day simple moving average is $13.17 and its 200-day simple moving average is $12.93. The company has a debt-to-equity ratio of 4.79, a current ratio of 3.90 and a quick ratio of 3.90. Gladstone Commercial Co. has a fifty-two week low of $10.84 and a fifty-two week high of $14.14.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The firm had revenue of $35.91 million during the quarter, compared to analyst estimates of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. On average, analysts forecast that Gladstone Commercial Co. will post 1.38 EPS for the current year.

Gladstone Commercial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.85%. The ex-dividend date is Tuesday, June 18th. Gladstone Commercial’s dividend payout ratio is presently -545.45%.

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.