Short Interest in Gladstone Commercial Co. (NASDAQ:GOOD) Drops By 12.6%

Gladstone Commercial Co. (NASDAQ:GOOD) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 648,900 shares, a drop of 12.6% from the November 15th total of 742,200 shares. Based on an average trading volume of 236,400 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Several analysts recently commented on GOOD shares. Canaccord Genuity Group upgraded shares of Gladstone Commercial to a “strong-buy” rating in a research note on Friday, October 4th. StockNews.com raised Gladstone Commercial from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Finally, B. Riley reissued a “neutral” rating and issued a $15.00 target price (up previously from $13.50) on shares of Gladstone Commercial in a report on Thursday, October 10th.

Institutional Trading of Gladstone Commercial

A number of hedge funds have recently bought and sold shares of GOOD. Cetera Advisors LLC boosted its holdings in shares of Gladstone Commercial by 14.8% during the first quarter. Cetera Advisors LLC now owns 18,298 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 2,353 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Gladstone Commercial by 0.8% in the 2nd 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 buying an additional 1,327 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of Gladstone Commercial during the 2nd quarter valued at about $158,000. International Assets Investment Management LLC purchased a new position in shares of Gladstone Commercial during the 2nd quarter worth about $33,000. Finally, Ballentine Partners LLC boosted its position in shares of Gladstone Commercial by 5.3% in the second quarter. Ballentine Partners LLC now owns 14,214 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 714 shares during the last quarter. Institutional investors and hedge funds own 45.51% of the company’s stock.

Gladstone Commercial Price Performance

Gladstone Commercial stock traded down $0.03 during midday trading on Tuesday, reaching $16.63. 108,777 shares of the company were exchanged, compared to its average volume of 243,560. The company has a market capitalization of $730.37 million, a price-to-earnings ratio of 83.30, a P/E/G ratio of 1.97 and a beta of 1.24. The company has a debt-to-equity ratio of 4.10, a quick ratio of 3.54 and a current ratio of 3.54. The firm’s 50-day simple moving average is $16.72 and its 200-day simple moving average is $15.52. Gladstone Commercial has a 1 year low of $11.89 and a 1 year high of $17.88.

Gladstone Commercial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date of this dividend is Friday, December 20th. Gladstone Commercial’s dividend payout ratio is presently 600.00%.

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.