State of New Jersey Common Pension Fund D Purchases 88,467 Shares of Gladstone Commercial Corporation $GOOD

State of New Jersey Common Pension Fund D boosted its position in shares of Gladstone Commercial Corporation (NASDAQ:GOOD) by 64.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 225,246 shares of the real estate investment trust’s stock after acquiring an additional 88,467 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Gladstone Commercial were worth $2,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Qube Research & Technologies Ltd increased its position in shares of Gladstone Commercial by 87.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 525,750 shares of the real estate investment trust’s stock valued at $7,534,000 after purchasing an additional 244,803 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Gladstone Commercial by 525.8% in the first quarter. Millennium Management LLC now owns 256,182 shares of the real estate investment trust’s stock worth $3,838,000 after buying an additional 215,245 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Gladstone Commercial by 54.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 562,671 shares of the real estate investment trust’s stock valued at $8,063,000 after buying an additional 198,624 shares during the period. AQR Capital Management LLC increased its holdings in Gladstone Commercial by 113.0% during the second quarter. AQR Capital Management LLC now owns 257,948 shares of the real estate investment trust’s stock valued at $3,696,000 after buying an additional 136,823 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Gladstone Commercial during the first quarter valued at approximately $1,805,000. 45.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOD. Loop Capital set a $13.00 price target on shares of Gladstone Commercial in a research note on Wednesday, November 5th. Wall Street Zen upgraded Gladstone Commercial from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded Gladstone Commercial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gladstone Commercial in a research note on Monday, December 29th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $11.00 price objective (down from $12.00) on shares of Gladstone Commercial in a research report on Monday, November 24th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Gladstone Commercial Stock Up 4.5%

Shares of GOOD opened at $12.55 on Friday. The business’s 50 day moving average is $11.27 and its 200 day moving average is $11.75. The company has a market capitalization of $607.55 million, a PE ratio of 89.64 and a beta of 1.11. Gladstone Commercial Corporation has a 12-month low of $10.33 and a 12-month high of $16.40. The company has a current ratio of 5.36, a quick ratio of 4.31 and a debt-to-equity ratio of 4.92.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.31). The business had revenue of $43.46 million during the quarter, compared to the consensus estimate of $41.23 million. Gladstone Commercial had a return on equity of 10.75% and a net margin of 11.95%. Research analysts expect that Gladstone Commercial Corporation will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Monday, March 23rd. Gladstone Commercial’s dividend payout ratio (DPR) is presently 857.14%.

About Gladstone Commercial

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.