Gladstone Commercial Co. (NASDAQ:GOOD) Sees Significant Growth in Short Interest

Gladstone Commercial Co. (NASDAQ:GOOD) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 569,000 shares, a growth of 18.0% from the September 15th total of 482,100 shares. Based on an average daily trading volume, of 280,000 shares, the short-interest ratio is presently 2.0 days.

Institutional Investors Weigh In On Gladstone Commercial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOD. Ballentine Partners LLC increased its stake in Gladstone Commercial by 5.3% during the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after purchasing an additional 714 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Gladstone Commercial by 4.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,087 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 867 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Gladstone Commercial by 7.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 1,185 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Gladstone Commercial by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 159,547 shares of the real estate investment trust’s stock worth $2,277,000 after acquiring an additional 1,327 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Gladstone Commercial by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,618 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 1,609 shares during the period. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Price Performance

GOOD stock traded up $0.19 during midday trading on Wednesday, reaching $16.50. The stock had a trading volume of 246,300 shares, compared to its average volume of 244,850. Gladstone Commercial has a 52-week low of $11.40 and a 52-week high of $16.58. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 4.95. The company’s fifty day simple moving average is $15.46 and its 200 day simple moving average is $14.59. The company has a market cap of $660.89 million, a price-to-earnings ratio of -85.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

Gladstone Commercial (NASDAQ:GOOD) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.37). Gladstone Commercial had a return on equity of 7.34% and a net margin of 7.90%. The business had revenue of $37.06 million during the quarter, compared to analysts’ expectations of $35.89 million. During the same period last year, the business earned $0.41 earnings per share. As a group, sell-side analysts predict that Gladstone Commercial will post 1.38 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The company 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 dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.27%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s payout ratio is presently -631.58%.

Analyst Ratings Changes

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

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.