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

Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a significant 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 currently 2.9 days.

Gladstone Commercial Price Performance

Shares of NASDAQ GOOD remained flat at $15.86 during midday trading on Wednesday. 240,216 shares of the company traded hands, compared to its average volume of 241,583. The company has a debt-to-equity ratio of 4.95, a current ratio of 3.29 and a quick ratio of 3.29. The firm has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $14.79. Gladstone Commercial has a 12-month low of $11.40 and a 12-month high of $16.61. The firm has a market cap of $635.26 million, a price-to-earnings ratio of -84.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.04) 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 company had revenue of $37.06 million for the quarter, compared to analyst estimates of $35.89 million. During the same period in the previous year, the business earned $0.41 EPS. On average, equities analysts forecast that Gladstone Commercial will post 1.4 EPS for the current year.

Gladstone Commercial Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GOOD. Vanguard Group Inc. grew its position 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 worth $55,999,000 after buying an additional 53,802 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Gladstone Commercial by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust’s stock valued at $20,122,000 after acquiring an additional 34,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Gladstone Commercial by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 567,878 shares of the real estate investment trust’s stock worth $8,103,000 after acquiring an additional 14,452 shares in the last quarter. LSV Asset Management increased its stake in Gladstone Commercial by 1.5% in the 2nd quarter. LSV Asset Management now owns 327,900 shares of the real estate investment trust’s stock worth $4,679,000 after purchasing an additional 4,800 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Gladstone Commercial by 13.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 160,270 shares of the real estate investment trust’s stock worth $2,218,000 after buying an additional 18,587 shares during the period. Hedge funds and other 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.