Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Drops By 8.3%

Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 915,800 shares, a drop of 8.3% from the May 15th total of 998,800 shares. Based on an average daily trading volume, of 216,300 shares, the days-to-cover ratio is currently 4.2 days.

Analysts Set New Price Targets

Several brokerages recently commented on GOOD. Alliance Global Partners began coverage on Gladstone Commercial in a report on Monday, March 18th. They set a “buy” rating and a $15.50 target price on the stock. StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a research note on Monday, May 27th.

Gladstone Commercial Stock Performance

NASDAQ:GOOD traded up $0.21 during midday trading on Tuesday, reaching $14.08. 223,930 shares of the company traded hands, compared to its average volume of 221,991. Gladstone Commercial has a twelve month low of $11.40 and a twelve month high of $15.04. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 4.85. The company has a fifty day moving average price of $13.97 and a 200 day moving average price of $13.41.

Gladstone Commercial (NASDAQ:GOOD) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.33). The company had revenue of $35.72 million for the quarter, compared to analyst estimates of $36.41 million. Gladstone Commercial had a net margin of 3.60% and a return on equity of 3.19%. Sell-side analysts anticipate that Gladstone Commercial will post 1.36 earnings per share for the current fiscal year.

Gladstone Commercial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 19th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 8.52%. The ex-dividend date is Tuesday, June 18th. Gladstone Commercial’s payout ratio is currently -631.58%.

Institutional Trading of Gladstone Commercial

Hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division bought a new stake in Gladstone Commercial during the 1st quarter valued at $64,000. PNC Financial Services Group Inc. raised its stake in shares of Gladstone Commercial by 68.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 2,828 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of Gladstone Commercial by 82.4% in the 1st quarter. Evermay Wealth Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 3,475 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Gladstone Commercial in the 1st quarter worth $113,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Gladstone Commercial in the 4th quarter worth $140,000. Institutional investors own 45.51% of the company’s stock.

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.