Gladstone Commercial Corporation (NASDAQ:GOOD) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc has dramatically reduced its position in Gladstone Commercial Corporation (NASDAQ:GOOD) by 84.8%, now holding only 6,541 shares after selling 36,366 shares in the first quarter.
• Meanwhile, other institutional investors like Millennium Management LLC and SG Americas Securities LLC have significantly increased their stakes, with increases of 103.1% and 384.0%, respectively.
• Gladstone Commercial recently announced a $0.10 dividend per share, resulting in a high dividend yield of 879.0%, but their dividend payout ratio stands at an unusually high 413.79%.

Vestcor Inc decreased its position in shares of Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 84.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,541 shares of the real estate investment trust's stock after selling 36,366 shares during the quarter. Vestcor Inc's holdings in Gladstone Commercial were worth $98,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Gladstone Commercial by 103.1% during the 4th quarter. Millennium Management LLC now owns 40,937 shares of the real estate investment trust's stock valued at $665,000 after buying an additional 20,776 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Gladstone Commercial by 384.0% during the 1st quarter. SG Americas Securities LLC now owns 83,441 shares of the real estate investment trust's stock valued at $1,250,000 after buying an additional 66,201 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Gladstone Commercial by 12.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,450 shares of the real estate investment trust's stock valued at $463,000 after buying an additional 3,210 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Gladstone Commercial by 36.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,097 shares of the real estate investment trust's stock valued at $1,008,000 after buying an additional 16,422 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Gladstone Commercial during the 4th quarter valued at approximately $205,000. Institutional investors and hedge funds own 45.51% of the company's stock.

Gladstone Commercial Price Performance

Shares of NASDAQ:GOOD traded down $0.01 during midday trading on Tuesday, reaching $13.23. 260,514 shares of the company's stock traded hands, compared to its average volume of 402,896. Gladstone Commercial Corporation has a 1 year low of $12.67 and a 1 year high of $17.88. The company has a market cap of $612.28 million, a P/E ratio of 45.62, a PEG ratio of 1.56 and a beta of 1.17. The company has a debt-to-equity ratio of 4.06, a quick ratio of 4.72 and a current ratio of 4.72. The company has a fifty day simple moving average of $14.14 and a two-hundred day simple moving average of $14.67.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.34 earnings per share for the quarter, meeting analysts' consensus estimates of $0.34. The company had revenue of $37.50 million for the quarter, compared to analyst estimates of $37.33 million. Gladstone Commercial had a return on equity of 15.32% and a net margin of 16.97%. Equities analysts predict that Gladstone Commercial Corporation will post 1.45 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 22nd were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a dividend yield of 879.0%. Gladstone Commercial's dividend payout ratio (DPR) is 413.79%.

Gladstone Commercial Company 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.