Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Declines By 8.9%

Gladstone Commercial Co. (NASDAQ:GOOD) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 647,600 shares, a decrease 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 currently 2.5 days.

Hedge Funds Weigh In On Gladstone Commercial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Gladstone Commercial in the 3rd quarter worth approximately $2,306,000. Charles Schwab Investment Management Inc. grew its stake in shares of Gladstone Commercial by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock worth $7,168,000 after acquiring an additional 117,988 shares during the last quarter. Freestone Capital Holdings LLC bought a new position in shares of Gladstone Commercial during the first quarter valued at $1,107,000. Martingale Asset Management L P purchased a new position in shares of Gladstone Commercial in the 3rd quarter worth about $947,000. Finally, Vanguard Group Inc. grew its position 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 purchasing an additional 53,802 shares during the last quarter. Institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Stock Up 1.0 %

Shares of GOOD stock traded up $0.17 during mid-day trading on Monday, reaching $17.03. 220,387 shares of the company’s stock traded hands, compared to its average volume of 243,574. The company’s 50-day moving average price is $16.20 and its 200-day moving average price is $15.10. The company has a market cap of $747.96 million, a P/E ratio of 85.15, 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. Gladstone Commercial has a 12 month low of $11.89 and a 12 month high of $17.53.

Gladstone Commercial Announces Dividend

The firm also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s dividend payout ratio (DPR) is presently 600.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOD. Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. B. Riley reissued a “neutral” rating and set a $15.00 price objective (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.

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.