Gladstone Commercial Co. (NASDAQ:GOOD) Sees Large Increase in Short Interest

Gladstone Commercial Co. (NASDAQ:GOOD) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 1,260,000 shares, a growth of 18.9% from the March 15th total of 1,060,000 shares. Based on an average trading volume of 235,300 shares, the days-to-cover ratio is currently 5.4 days.

Gladstone Commercial Trading Down 1.0 %

Shares of GOOD opened at $13.21 on Friday. Gladstone Commercial has a 1-year low of $10.84 and a 1-year high of $14.14. The company has a 50-day moving average of $13.00 and a 200 day moving average of $12.81. The firm has a market capitalization of $532.50 million, a price-to-earnings ratio of -60.05, a PEG ratio of 1.61 and a beta of 1.15. The company has a debt-to-equity ratio of 4.79, a current ratio of 3.90 and a quick ratio of 3.90.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.31). The company had revenue of $35.91 million for the quarter, compared to the consensus estimate of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. On average, research analysts expect that Gladstone Commercial will post 1.38 EPS for the current year.

Gladstone Commercial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.08%. The ex-dividend date is Thursday, May 16th. Gladstone Commercial’s dividend payout ratio (DPR) is -545.45%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began coverage on shares of Gladstone Commercial in a report on Monday, March 18th. They set a “buy” rating and a $15.50 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in Gladstone Commercial during the 1st quarter valued at about $30,000. Money Concepts Capital Corp purchased a new position in Gladstone Commercial during the 4th quarter valued at about $30,000. Federated Hermes Inc. purchased a new position in Gladstone Commercial during the 1st quarter valued at about $37,000. PNC Financial Services Group Inc. increased its position in Gladstone Commercial by 64.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,432 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,339 shares during the period. Finally, FMR LLC grew its position in shares of Gladstone Commercial by 22.6% in the 2nd quarter. FMR LLC now owns 4,945 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 911 shares during the last quarter. Hedge funds and other 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.