Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Grows By 18.9%

Gladstone Commercial Co. (NASDAQ:GOOD) saw a significant growth in short interest in 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 daily trading volume, of 235,300 shares, the days-to-cover ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on shares of Gladstone Commercial in a report on Monday, March 18th. They issued a “buy” rating and a $15.50 price target on the stock.

Gladstone Commercial Stock Down 0.6 %

Shares of NASDAQ GOOD opened at $13.13 on Tuesday. Gladstone Commercial has a 12-month low of $10.84 and a 12-month high of $14.14. The company has a market capitalization of $529.27 million, a PE ratio of -59.68, a price-to-earnings-growth ratio of 1.59 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. The firm’s 50-day moving average is $13.01 and its two-hundred day moving average is $12.82.

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 (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.31). The firm had revenue of $35.91 million for the quarter, compared to analysts’ expectations of $36.80 million. Gladstone Commercial had a net margin of 2.82% and a return on equity of 2.36%. Equities analysts anticipate that Gladstone Commercial will post 1.38 EPS for the current fiscal year.

Gladstone Commercial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, June 19th will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 9.14%. The ex-dividend date is Tuesday, June 18th. Gladstone Commercial’s dividend payout ratio (DPR) is -545.45%.

Hedge Funds Weigh In On Gladstone Commercial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Gladstone Commercial by 68.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 2,828 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Gladstone Commercial during the fourth quarter worth approximately $232,000. Barclays PLC increased its position in Gladstone Commercial by 344.8% during the fourth quarter. Barclays PLC now owns 62,995 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 48,832 shares during the last quarter. Royal Bank of Canada increased its position in Gladstone Commercial by 20.6% during the fourth quarter. Royal Bank of Canada now owns 42,254 shares of the real estate investment trust’s stock worth $559,000 after purchasing an additional 7,207 shares during the last quarter. Finally, Northern Trust Corp increased its position in Gladstone Commercial by 3.6% during the fourth quarter. Northern Trust Corp now owns 398,936 shares of the real estate investment trust’s stock worth $5,282,000 after purchasing an additional 13,804 shares during the last quarter. 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.