Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Down 8.9% in October

Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 647,600 shares, a decline of 8.9% from the October 15th total of 710,700 shares. Based on an average daily volume of 254,900 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Gladstone Commercial

A number of large investors have recently added to or reduced their stakes in GOOD. International Assets Investment Management LLC purchased a new position in shares of Gladstone Commercial in the 2nd quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 2,885 shares during the period. Evermay Wealth Management LLC lifted its stake in shares of Gladstone Commercial by 82.4% in the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 3,475 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Gladstone Commercial during the 1st quarter valued at approximately $113,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Gladstone Commercial during the 2nd quarter valued at $127,000. Institutional investors own 45.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Gladstone Commercial Price Performance

NASDAQ:GOOD traded up $0.17 on Monday, reaching $17.03. 220,387 shares of the company’s stock traded hands, compared to its average volume of 243,574. The firm has a market cap of $747.96 million, a PE ratio of 84.30, a P/E/G ratio of 1.99 and a beta of 1.21. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 4.10. The stock has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $15.10. Gladstone Commercial has a 12 month low of $11.89 and a 12 month high of $17.53.

Gladstone Commercial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.20 dividend on an annualized basis and a yield of 7.05%. Gladstone Commercial’s dividend payout ratio is currently 600.00%.

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.