Vestcor Inc Buys New Shares in Gladstone Commercial Co. (NASDAQ:GOOD)

Vestcor Inc bought a new stake in Gladstone Commercial Co. (NASDAQ:GOOD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,907 shares of the real estate investment trust’s stock, valued at approximately $697,000. Vestcor Inc owned about 0.10% of Gladstone Commercial at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Gladstone Commercial in the fourth quarter valued at $43,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 2,885 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Gladstone Commercial during the fourth quarter valued at about $192,000. Wealthfront Advisers LLC purchased a new stake in Gladstone Commercial during the fourth quarter valued at about $194,000. Finally, Atomi Financial Group Inc. grew its position in Gladstone Commercial by 8.0% during the fourth quarter. Atomi Financial Group Inc. now owns 12,256 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 908 shares during the period. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Gladstone Commercial Price Performance

GOOD stock opened at $14.89 on Monday. Gladstone Commercial Co. has a 12-month low of $12.85 and a 12-month high of $17.88. The stock has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $16.21. The company has a current ratio of 5.68, a quick ratio of 3.54 and a debt-to-equity ratio of 4.05. The company has a market cap of $658.03 million, a PE ratio of 57.27, a price-to-earnings-growth ratio of 1.82 and a beta of 1.24.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.24. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. The business had revenue of $37.38 million during the quarter, compared to analyst estimates of $38.04 million. As a group, research analysts predict that Gladstone Commercial Co. will post 1.45 EPS for the current year.

Gladstone Commercial Announces Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 7.48%. Gladstone Commercial’s dividend payout ratio (DPR) is currently 461.54%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

About Gladstone Commercial

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.