Vanguard Group Inc. Raises Stock Position in Gladstone Commercial Corporation $GOOD

Key Points

• Vanguard Group Inc. increased its stake in Gladstone Commercial Corporation by 5.7%, acquiring an additional 242,957 shares during the 1st quarter. Vanguard now owns approximately 9.89% of the company, valued at about $67.81 million.
• Gladstone Commercial recently announced a dividend of $0.10 per share, which reflects a remarkably high yield of 879.0%, although the company has a dividend payout ratio of 333.33%.
• Wall Street analysts have downgraded Gladstone Commercial's stock from a "hold" to a "sell" rating, despite a consensus rating of "Buy" and a price target of $15.00, indicating mixed market sentiment.

Vanguard Group Inc. boosted its holdings in shares of Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,526,797 shares of the real estate investment trust's stock after acquiring an additional 242,957 shares during the period. Vanguard Group Inc. owned 9.89% of Gladstone Commercial worth $67,811,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. State of Alaska Department of Revenue grew its stake in Gladstone Commercial by 4.6% during the 1st quarter. State of Alaska Department of Revenue now owns 21,170 shares of the real estate investment trust's stock valued at $316,000 after acquiring an additional 924 shares in the last quarter. Intrust Bank NA grew its stake in Gladstone Commercial by 4.6% during the 1st quarter. Intrust Bank NA now owns 31,879 shares of the real estate investment trust's stock valued at $478,000 after acquiring an additional 1,400 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Gladstone Commercial during the first quarter worth about $26,000. California State Teachers Retirement System raised its stake in Gladstone Commercial by 5.1% during the fourth quarter. California State Teachers Retirement System now owns 39,791 shares of the real estate investment trust's stock worth $646,000 after purchasing an additional 1,921 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Gladstone Commercial by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 179,440 shares of the real estate investment trust's stock worth $2,688,000 after purchasing an additional 1,967 shares during the period. Hedge funds and other institutional investors own 45.51% of the company's stock.

Gladstone Commercial Trading Up 1.1%

GOOD stock traded up $0.15 during mid-day trading on Friday, hitting $13.45. 274,028 shares of the company were exchanged, compared to its average volume of 321,725. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 4.50. The firm has a market capitalization of $626.23 million, a P/E ratio of 37.36, a PEG ratio of 1.48 and a beta of 1.17. The business has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $14.30. Gladstone Commercial Corporation has a 12-month low of $12.67 and a 12-month high of $17.88.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $39.53 million during the quarter, compared to analyst estimates of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.37%. On average, equities research analysts predict that Gladstone Commercial Corporation will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently announced a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 21st were paid a dividend of $0.10 per share. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend was Monday, July 21st. Gladstone Commercial's dividend payout ratio (DPR) is 333.33%.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $15.00.

Gladstone Commercial 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.