Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Up 14.6% in November

Gladstone Commercial Co. (NASDAQ:GOOD) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 742,200 shares, an increase of 14.6% from the October 31st total of 647,600 shares. Based on an average trading volume of 235,300 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group raised shares of Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th. 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. Finally, StockNews.com cut shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Monday.

Gladstone Commercial Price Performance

NASDAQ GOOD traded down $0.19 on Tuesday, hitting $17.33. 200,568 shares of the company were exchanged, compared to its average volume of 244,423. Gladstone Commercial has a 1-year low of $11.89 and a 1-year high of $17.88. The firm has a 50 day moving average of $16.53 and a two-hundred day moving average of $15.33. 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 cap of $761.13 million, a P/E ratio of 86.65, a P/E/G ratio of 2.04 and a beta of 1.24.

Gladstone Commercial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, December 20th. This represents a $1.20 annualized dividend and a dividend yield of 6.92%. Gladstone Commercial’s dividend payout ratio (DPR) is currently 600.00%.

Institutional Trading of Gladstone Commercial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted 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 valued at $55,999,000 after buying an additional 53,802 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Gladstone Commercial by 7.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,990 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 1,185 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $327,000 after purchasing an additional 1,609 shares during the period. Cetera Advisors LLC grew its holdings in shares of Gladstone Commercial by 14.8% in the 1st quarter. Cetera Advisors LLC now owns 18,298 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 2,353 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in 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 valued at $2,277,000 after acquiring an additional 1,327 shares during the period. Institutional investors and hedge funds own 45.51% of the company’s stock.

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.