Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Update

Gladstone Commercial Co. (NASDAQ:GOOD) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 710,700 shares, a growth 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.

Analyst Ratings Changes

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

Gladstone Commercial Stock Performance

Shares of NASDAQ:GOOD remained flat at $15.86 on Wednesday. 240,216 shares of the stock traded hands, compared to its average volume of 241,583. The company has a market cap of $635.26 million, a P/E ratio of -84.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a fifty day moving average of $15.79 and a 200 day moving average of $14.79. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 4.95. Gladstone Commercial has a 52 week low of $11.40 and a 52 week high of $16.61.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). Gladstone Commercial had a net margin of 7.90% and a return on equity of 7.34%. The business had revenue of $37.06 million during the quarter, compared to the consensus estimate of $35.89 million. During the same period in the prior year, the firm earned $0.41 earnings per share. As a group, sell-side analysts predict that Gladstone Commercial will post 1.4 EPS for the current year.

Gladstone Commercial Dividend Announcement

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

Institutional Investors Weigh In On Gladstone Commercial

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Gladstone Commercial during the second quarter worth about $33,000. Central Pacific Bank Trust Division bought a new position in Gladstone Commercial during the first quarter worth $64,000. PNC Financial Services Group Inc. grew its stake in Gladstone Commercial by 68.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 2,828 shares during the last quarter. Evermay Wealth Management LLC increased its stake in shares of Gladstone Commercial by 82.4% during the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 3,475 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Gladstone Commercial during the 1st quarter worth $113,000. Institutional investors own 45.51% of the company’s stock.

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.