Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Down 8.9% in October

Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 647,600 shares, a drop of 8.9% from the October 15th total of 710,700 shares. Based on an average daily volume of 254,900 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Gladstone Commercial in the second quarter valued at approximately $33,000. Evermay Wealth Management LLC increased its holdings in Gladstone Commercial by 82.4% in the first quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 3,475 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Gladstone Commercial in the first quarter valued at about $113,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,885 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Gladstone Commercial during the second quarter worth about $127,000. Institutional investors and hedge funds own 45.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOD. StockNews.com downgraded shares of Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. B. Riley restated 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, Canaccord Genuity Group upgraded Gladstone Commercial to a “strong-buy” rating in a report on Friday, October 4th.

Gladstone Commercial Price Performance

Shares of NASDAQ:GOOD traded up $0.11 during trading on Tuesday, reaching $17.14. The stock had a trading volume of 76,075 shares, compared to its average volume of 242,826. The business’s 50-day moving average price is $16.24 and its 200 day moving average price is $15.13. Gladstone Commercial has a 52 week low of $11.89 and a 52 week high of $17.53. The stock has a market capitalization of $752.79 million, a PE ratio of 85.15, a P/E/G ratio of 1.99 and a beta of 1.21. The company has a debt-to-equity ratio of 4.10, a current ratio of 3.54 and a quick ratio of 3.54.

Gladstone Commercial Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 7.00%. The ex-dividend date is Friday, December 20th. Gladstone Commercial’s payout ratio is presently 600.00%.

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.