State of New Jersey Common Pension Fund D Trims Stake in Gladstone Commercial Co. (NASDAQ:GOOD)

State of New Jersey Common Pension Fund D lessened its position in shares of Gladstone Commercial Co. (NASDAQ:GOOD) by 1.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 131,712 shares of the real estate investment trust’s stock after selling 1,802 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Gladstone Commercial were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC acquired a new position in shares of Gladstone Commercial in the 1st quarter valued at $1,107,000. Vanguard Group Inc. increased its stake in Gladstone Commercial by 1.3% in the first quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock valued at $55,999,000 after purchasing an additional 53,802 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Gladstone Commercial by 1,524.0% in the third quarter. International Assets Investment Management LLC now owns 37,644 shares of the real estate investment trust’s stock valued at $611,000 after buying an additional 35,326 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Gladstone Commercial by 2.5% during the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock worth $20,122,000 after buying an additional 34,400 shares during the last quarter. Finally, EMC Capital Management increased its position in Gladstone Commercial by 374.8% in the 3rd quarter. EMC Capital Management now owns 34,840 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 27,502 shares during the period. Institutional investors and hedge funds own 45.51% of the company’s stock.

Gladstone Commercial Stock Performance

Shares of GOOD stock opened at $16.79 on Friday. The company has a current ratio of 3.54, a quick ratio of 3.54 and a debt-to-equity ratio of 4.10. The stock has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $15.04. The company has a market cap of $737.42 million, a price-to-earnings ratio of 86.40, a price-to-earnings-growth ratio of 2.04 and a beta of 1.21. Gladstone Commercial Co. has a 12-month low of $11.89 and a 12-month high of $17.53.

Gladstone Commercial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s dividend payout ratio (DPR) is currently 600.00%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group raised Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. StockNews.com lowered shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, B. Riley restated a “neutral” rating and set a $15.00 price objective (up previously from $13.50) on shares of Gladstone Commercial in a research report on Thursday, October 10th.

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.