Gladstone Commercial Co. (NASDAQ:GOOD) Sees Large Drop in Short Interest

Gladstone Commercial Co. (NASDAQ:GOOD) was the recipient of a significant decline in short interest during 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 short-interest ratio is presently 2.5 days.

Hedge Funds Weigh In On Gladstone Commercial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Gladstone Commercial during the third quarter valued at $2,306,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gladstone Commercial by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock valued at $7,168,000 after acquiring an additional 117,988 shares during the last quarter. Freestone Capital Holdings LLC bought a new stake in shares of Gladstone Commercial in the first quarter worth approximately $1,107,000. Martingale Asset Management L P purchased a new position in shares of Gladstone Commercial during the third quarter valued at approximately $947,000. Finally, Vanguard Group Inc. grew its position in Gladstone Commercial by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust’s stock worth $55,999,000 after purchasing an additional 53,802 shares during the period. 45.51% of the stock is owned by institutional investors.

Gladstone Commercial Stock Up 1.0 %

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

Gladstone Commercial Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors 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 payout ratio is currently 600.00%.

Analyst Ratings Changes

GOOD has been the topic of a number of recent research reports. StockNews.com cut Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a research report on Friday, October 4th. Finally, B. Riley reaffirmed a “neutral” rating and set a $15.00 price objective (up from $13.50) on shares of Gladstone Commercial in a research note 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.