Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Rises By 14.6%

Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 742,200 shares, a growth of 14.6% from the October 31st total of 647,600 shares. Based on an average daily volume of 235,300 shares, the days-to-cover ratio is currently 3.2 days.

Gladstone Commercial Price Performance

NASDAQ:GOOD traded down $0.19 during trading hours on Tuesday, hitting $17.33. The company’s stock had a trading volume of 200,563 shares, compared to its average volume of 244,423. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54. The company has a market capitalization of $761.12 million, a P/E ratio of 86.15, a PEG ratio of 2.05 and a beta of 1.24. Gladstone Commercial has a twelve month low of $11.89 and a twelve month high of $17.88. The stock has a fifty day simple moving average of $16.53 and a 200-day simple moving average of $15.33.

Gladstone Commercial Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.92%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s payout ratio is 600.00%.

Institutional Investors Weigh In On Gladstone Commercial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Gladstone Commercial in the third quarter worth $2,306,000. Charles Schwab Investment Management Inc. grew its holdings in Gladstone Commercial by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock worth $7,168,000 after purchasing an additional 117,988 shares during the period. Martingale Asset Management L P bought a new stake in Gladstone Commercial in the third quarter valued at $947,000. Vanguard Group Inc. raised its holdings in shares of Gladstone Commercial by 1.3% during 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. Finally, Barclays PLC boosted its position in shares of Gladstone Commercial by 323.4% during the 3rd quarter. Barclays PLC now owns 62,132 shares of the real estate investment trust’s stock worth $1,009,000 after purchasing an additional 47,456 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOD. StockNews.com downgraded Gladstone Commercial from a “buy” rating to a “hold” rating in a research report on Monday. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reiterated a “neutral” rating and set a $15.00 price target (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.