Vestcor Inc Sells 36,366 Shares of Gladstone Commercial Corporation (NASDAQ:GOOD)

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 cut its holdings in shares of Gladstone Commercial Corporation (NASDAQ:GOOD - Free Report) by 84.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,541 shares of the real estate investment trust's stock after selling 36,366 shares during the period. Vestcor Inc's holdings in Gladstone Commercial were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOD. Vanguard Group Inc. boosted its holdings in Gladstone Commercial by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 4,283,840 shares of the real estate investment trust's stock worth $69,570,000 after purchasing an additional 213,281 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Gladstone Commercial by 64.2% in the fourth quarter. JPMorgan Chase & Co. now owns 297,473 shares of the real estate investment trust's stock valued at $4,831,000 after acquiring an additional 116,355 shares during the last quarter. Northern Trust Corp boosted its stake in Gladstone Commercial by 22.2% in the fourth quarter. Northern Trust Corp now owns 455,385 shares of the real estate investment trust's stock valued at $7,395,000 after acquiring an additional 82,684 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Gladstone Commercial by 11.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 801,407 shares of the real estate investment trust's stock valued at $13,015,000 after acquiring an additional 80,843 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Gladstone Commercial by 384.0% in the first quarter. SG Americas Securities LLC now owns 83,441 shares of the real estate investment trust's stock valued at $1,250,000 after acquiring an additional 66,201 shares during the last quarter. 45.51% of the stock is owned by institutional investors.

Gladstone Commercial Stock Performance

GOOD traded up $0.06 during midday trading on Friday, reaching $13.09. The company had a trading volume of 178,455 shares, compared to its average volume of 379,532. 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 stock has a market cap of $605.61 million, a PE ratio of 36.42, a P/E/G ratio of 1.54 and a beta of 1.17. Gladstone Commercial Corporation has a 12-month low of $12.67 and a 12-month high of $17.88. The business has a 50-day moving average price of $14.08 and a two-hundred day moving average price of $14.62.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.35 EPS for the quarter, meeting analysts' consensus estimates of $0.35. The company had revenue of $39.53 million for the quarter, compared to analysts' expectations of $38.32 million. Gladstone Commercial had a net margin of 18.67% and a return on equity of 16.43%. On average, sell-side 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 declared a dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 22nd were issued 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 is presently 333.33%.

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.