TIAA CREF Investment Management LLC lowered its stake in Gladstone Commercial Corporation (NASDAQ:GOOD) by 29.9% during the first quarter, Holdings Channel reports. The firm owned 63,347 shares of the real estate investment trust’s stock after selling 26,969 shares during the period. TIAA CREF Investment Management LLC’s holdings in Gladstone Commercial Corporation were worth $1,309,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOD. State Street Corp raised its stake in Gladstone Commercial Corporation by 12.0% in the fourth quarter. State Street Corp now owns 385,589 shares of the real estate investment trust’s stock valued at $7,750,000 after buying an additional 41,451 shares during the period. LSV Asset Management raised its stake in Gladstone Commercial Corporation by 2.7% in the first quarter. LSV Asset Management now owns 378,557 shares of the real estate investment trust’s stock valued at $7,824,000 after buying an additional 9,900 shares during the period. Dimensional Fund Advisors LP raised its stake in Gladstone Commercial Corporation by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 330,272 shares of the real estate investment trust’s stock valued at $6,638,000 after buying an additional 2,264 shares during the period. Bank of New York Mellon Corp raised its stake in Gladstone Commercial Corporation by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 237,993 shares of the real estate investment trust’s stock valued at $4,919,000 after buying an additional 14,535 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Gladstone Commercial Corporation by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 148,525 shares of the real estate investment trust’s stock valued at $3,070,000 after buying an additional 3,100 shares during the period. 48.12% of the stock is currently owned by institutional investors.

Gladstone Commercial Corporation (GOOD) traded down 0.38% during mid-day trading on Tuesday, reaching $20.82. The company had a trading volume of 8,754 shares. Gladstone Commercial Corporation has a 12-month low of $16.02 and a 12-month high of $23.35.

The firm also recently announced a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Wednesday, September 20th will be given a dividend of $0.125 per share. This represents a $1.50 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend is Tuesday, September 19th. Gladstone Commercial Corporation’s payout ratio is -1,250.00%.

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GOOD has been the topic of several analyst reports. DA Davidson initiated coverage on Gladstone Commercial Corporation in a report on Tuesday, July 25th. They set a “buy” rating and a $24.00 target price on the stock. Hilliard Lyons lowered Gladstone Commercial Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, May 3rd. BidaskClub lowered Gladstone Commercial Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered Gladstone Commercial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity initiated coverage on Gladstone Commercial Corporation in a report on Tuesday, July 18th. They set a “hold” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.67.

Gladstone Commercial Corporation Company Profile

Gladstone Commercial Corporation is a real estate investment trust. The Company focuses on acquiring, owning and managing primarily office and industrial properties. The Company also makes long-term industrial and commercial mortgage loans. As of February 15, 2017, the Company owned 95 properties totaling 10.9 million square feet in 24 states.

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Institutional Ownership by Quarter for Gladstone Commercial Corporation (NASDAQ:GOOD)

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