Gladstone Commercial Corp. (NASDAQ:GOOD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Its goal is to pay our shareholders dividends on a monthly basis. Its objective is to increase the amount of dividends paid out each year. “

Separately, TheStreet upgraded shares of Gladstone Commercial Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 8th.

Shares of Gladstone Commercial Corp. (NASDAQ:GOOD) opened at 18.88 on Tuesday. Gladstone Commercial Corp. has a 12 month low of $12.00 and a 12 month high of $19.15. The company’s 50-day moving average is $0.00 and its 200 day moving average is $0.00.

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 30th. Stockholders of record on Tuesday, December 20th will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, December 16th. This represents a $1.50 annualized dividend and a dividend yield of 7.94%. Gladstone Commercial Corp.’s dividend payout ratio (DPR) is currently -1,666.67%.

In other news, Director Caren D. Merrick bought 2,816 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average price of $17.76 per share, for a total transaction of $50,012.16. Following the completion of the transaction, the director now directly owns 2,816 shares in the company, valued at $50,012.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Sodo bought 1,800 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was purchased at an average price of $16.57 per share, for a total transaction of $29,826.00. Following the transaction, the chief financial officer now owns 1,800 shares of the company’s stock, valued at $29,826. The disclosure for this purchase can be found here. Insiders own 2.36% of the company’s stock.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Gladstone Commercial Corp. by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 204,639 shares of the real estate investment trust’s stock worth $3,456,000 after buying an additional 15,674 shares in the last quarter. HL Financial Services LLC raised its stake in shares of Gladstone Commercial Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 38,068 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 1,143 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Gladstone Commercial Corp. by 59.5% in the second quarter. California Public Employees Retirement System now owns 56,300 shares of the real estate investment trust’s stock worth $951,000 after buying an additional 21,000 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in shares of Gladstone Commercial Corp. during the second quarter worth approximately $392,000. Finally, Confluence Investment Management LLC raised its stake in shares of Gladstone Commercial Corp. by 5.4% in the second quarter. Confluence Investment Management LLC now owns 117,967 shares of the real estate investment trust’s stock worth $1,992,000 after buying an additional 6,049 shares in the last quarter. Hedge funds and other institutional investors own 40.32% of the company’s stock.

About Gladstone Commercial Corp.

Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing office and industrial properties, and making long-term industrial and commercial mortgage loans. The Company’s portfolio of real estate is leased to a section of tenants ranging from small businesses to large public companies.

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