Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Rises By 24.9%

Gladstone Commercial Co. (NASDAQ:GOOD) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 710,700 shares, an increase of 24.9% from the September 30th total of 569,000 shares. Based on an average daily volume of 247,200 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GOOD shares. StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. B. Riley reissued a “neutral” rating and issued a $15.00 price target (up from $13.50) on shares of Gladstone Commercial in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th.

Institutional Investors Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently modified their holdings of GOOD. International Assets Investment Management LLC bought a new position in Gladstone Commercial in the 2nd quarter worth about $33,000. Central Pacific Bank Trust Division purchased a new stake in shares of Gladstone Commercial in the 1st quarter worth $64,000. PNC Financial Services Group Inc. grew its position in shares of Gladstone Commercial by 68.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 2,828 shares in the last quarter. Evermay Wealth Management LLC raised its holdings in shares of Gladstone Commercial by 82.4% in the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 3,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Gladstone Commercial in the first quarter worth about $113,000. 45.51% of the stock is currently owned by hedge funds and other institutional investors.

Gladstone Commercial Price Performance

GOOD remained flat at $15.86 during midday trading on Wednesday. The company’s stock had a trading volume of 241,280 shares, compared to its average volume of 241,588. Gladstone Commercial has a fifty-two week low of $11.40 and a fifty-two week high of $16.61. The firm has a market capitalization of $635.26 million, a P/E ratio of -84.58, a P/E/G ratio of 1.94 and a beta of 1.21. The company’s 50-day moving average price is $15.79 and its 200-day moving average price is $14.79. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.37). The company had revenue of $37.06 million for the quarter, compared to analysts’ expectations of $35.89 million. Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. During the same period in the previous year, the business posted $0.41 earnings per share. On average, equities research analysts predict that Gladstone Commercial will post 1.4 EPS for the current year.

Gladstone Commercial Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.57%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is currently -631.58%.

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.