Gladstone Commercial Co. (NASDAQ:GOOD) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 279,400 shares, a decline of 8.2% from the September 30th total of 304,400 shares. Based on an average daily trading volume, of 113,200 shares, the short-interest ratio is currently 2.5 days. Currently, 0.9% of the shares of the stock are short sold.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Gladstone Commercial from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. National Securities assumed coverage on Gladstone Commercial in a report on Monday, November 11th. They set a “buy” rating and a $25.00 price target for the company. BidaskClub cut Gladstone Commercial from a “sell” rating to a “strong sell” rating in a report on Friday. Finally, ValuEngine cut Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Gladstone Commercial presently has a consensus rating of “Hold” and an average target price of $23.33.
Shares of Gladstone Commercial stock traded down $0.27 during trading on Monday, reaching $22.69. 155,303 shares of the company’s stock were exchanged, compared to its average volume of 126,353. The company has a debt-to-equity ratio of 2.29, a quick ratio of 16.37 and a current ratio of 16.37. Gladstone Commercial has a 1-year low of $16.89 and a 1-year high of $23.98. The company has a market cap of $714.52 million, a P/E ratio of 14.27 and a beta of 0.77. The firm’s 50-day moving average price is $23.08 and its 200 day moving average price is $22.10.
Gladstone Commercial (NASDAQ:GOOD) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.42). Gladstone Commercial had a return on equity of 4.48% and a net margin of 10.34%. The business had revenue of $28.67 million for the quarter, compared to analyst estimates of $29.18 million. As a group, equities research analysts predict that Gladstone Commercial will post 1.55 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.61%. Gladstone Commercial’s dividend payout ratio (DPR) is currently 94.34%.
Several institutional investors have recently bought and sold shares of GOOD. NEXT Financial Group Inc acquired a new position in Gladstone Commercial in the 2nd quarter worth about $25,000. Gradient Investments LLC acquired a new position in Gladstone Commercial in the 2nd quarter worth about $32,000. Phocas Financial Corp. acquired a new position in Gladstone Commercial in the 2nd quarter worth about $3,196,000. Meeder Asset Management Inc. increased its holdings in Gladstone Commercial by 47.8% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,824 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 590 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in Gladstone Commercial in the 2nd quarter worth about $42,000. 57.64% of the stock is owned by institutional investors.
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 April 2019, Gladstone Commercial has paid 172 consecutive monthly cash distributions on its common stock.
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