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

Gladstone Commercial Co. (NASDAQ:GOOD) was the recipient of a significant growth in short interest in 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 volume of 235,300 shares, the short-interest ratio is currently 5.4 days.

Institutional Trading of Gladstone Commercial

A number of institutional investors and hedge funds have recently modified their holdings of GOOD. BlackRock Inc. lifted its stake in shares of Gladstone Commercial by 18.9% in the second quarter. BlackRock Inc. now owns 3,282,405 shares of the real estate investment trust’s stock worth $40,603,000 after buying an additional 522,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Gladstone Commercial by 2,656.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 528,301 shares of the real estate investment trust’s stock valued at $6,995,000 after purchasing an additional 509,133 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Gladstone Commercial by 37,224.2% during the 1st quarter. Balyasny Asset Management L.P. now owns 288,143 shares of the real estate investment trust’s stock valued at $3,639,000 after purchasing an additional 287,371 shares during the last quarter. LPL Financial LLC raised its stake in Gladstone Commercial by 888.5% during the 2nd quarter. LPL Financial LLC now owns 266,339 shares of the real estate investment trust’s stock valued at $5,018,000 after purchasing an additional 239,396 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Gladstone Commercial by 217.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 225,326 shares of the real estate investment trust’s stock valued at $2,787,000 after purchasing an additional 154,235 shares during the last quarter. 45.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Gladstone Commercial Stock Performance

GOOD stock opened at $13.13 on Tuesday. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 4.79. The company has a market capitalization of $529.27 million, a price-to-earnings ratio of -59.68, a P/E/G ratio of 1.59 and a beta of 1.15. Gladstone Commercial has a 12 month low of $10.84 and a 12 month high of $14.14. The firm has a 50 day moving average of $13.01 and a two-hundred day moving average of $12.82.

Gladstone Commercial (NASDAQ:GOOD) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.31). The business had revenue of $35.91 million during the quarter, compared to the consensus estimate of $36.80 million. Gladstone Commercial had a return on equity of 2.36% and a net margin of 2.82%. As a group, equities analysts anticipate that Gladstone Commercial will post 1.38 EPS for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, June 19th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date of this dividend is Tuesday, June 18th. Gladstone Commercial’s payout ratio is -545.45%.

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.