Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Up 24.9% in October

Gladstone Commercial Co. (NASDAQ:GOOD - Get Free Report) was the recipient of a large growth in short interest during the month of 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new position in Gladstone Commercial in the 1st quarter valued at approximately $1,107,000. GSA Capital Partners LLP increased its holdings in Gladstone Commercial by 436.0% in the 1st quarter. GSA Capital Partners LLP now owns 94,043 shares of the real estate investment trust's stock worth $1,302,000 after buying an additional 76,499 shares in the last quarter. Vanguard Group Inc. lifted its stake in Gladstone Commercial by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 4,046,166 shares of the real estate investment trust's stock valued at $55,999,000 after acquiring an additional 53,802 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Gladstone Commercial by 1,524.0% during the 3rd quarter. International Assets Investment Management LLC now owns 37,644 shares of the real estate investment trust's stock valued at $611,000 after acquiring an additional 35,326 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Gladstone Commercial by 2.5% in the second quarter. Renaissance Technologies LLC now owns 1,410,120 shares of the real estate investment trust's stock worth $20,122,000 after acquiring an additional 34,400 shares during the period. Hedge funds and other institutional investors own 45.51% of the company's stock.

Analysts Set New Price Targets

GOOD has been the subject of several analyst reports. StockNews.com lowered shares of Gladstone Commercial from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Canaccord Genuity Group raised Gladstone Commercial to a "strong-buy" rating in a research note on Friday, October 4th. Finally, B. Riley reissued a "neutral" rating and set 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 Stock Performance

Shares of NASDAQ GOOD remained flat at $15.86 during trading hours on Wednesday. The company had a trading volume of 241,280 shares, compared to its average volume of 241,588. Gladstone Commercial has a 12 month low of $11.40 and a 12 month high of $16.61. The company has a debt-to-equity ratio of 4.95, a quick ratio of 3.29 and a current ratio of 3.29. The stock has a 50 day moving average price of $15.79 and a 200-day moving average price of $14.79. The stock has a market capitalization of $635.26 million, a PE ratio of -84.58, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

Gladstone Commercial (NASDAQ:GOOD - Get Free Report) last announced 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 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 the consensus estimate of $35.89 million. During the same period in the previous year, the firm posted $0.41 EPS. On average, equities research analysts forecast that Gladstone Commercial will post 1.4 EPS for the current year.

Gladstone Commercial Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.20 annualized dividend and a dividend yield of 7.57%. Gladstone Commercial's payout ratio is currently -631.58%.

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.