Gladstone Commercial Co. (NASDAQ:GOOD – Get Rating) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 746,900 shares, an increase of 17.3% from the September 15th total of 636,700 shares. Based on an average trading volume of 209,900 shares, the days-to-cover ratio is currently 3.6 days.
Institutional Trading of Gladstone Commercial
A number of large investors have recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of 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 worth $5,018,000 after acquiring an additional 239,396 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Gladstone Commercial by 6.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,207,120 shares of the real estate investment trust’s stock worth $48,601,000 after buying an additional 133,700 shares during the last quarter. Invesco Ltd. boosted its position in shares of Gladstone Commercial by 11.8% during the 1st quarter. Invesco Ltd. now owns 643,931 shares of the real estate investment trust’s stock worth $14,180,000 after purchasing an additional 67,714 shares during the period. XML Financial LLC boosted its position in Gladstone Commercial by 19.9% in the 1st quarter. XML Financial LLC now owns 400,127 shares of the real estate investment trust’s stock valued at $8,811,000 after buying an additional 66,371 shares during the period. Finally, State Street Corp boosted its position in Gladstone Commercial by 7.0% in the 1st quarter. State Street Corp now owns 930,230 shares of the real estate investment trust’s stock valued at $20,484,000 after buying an additional 60,559 shares during the period. Hedge funds and other institutional investors own 47.63% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOD has been the topic of a number of research reports. TheStreet lowered shares of Gladstone Commercial from a “c-” rating to a “d+” rating in a research report on Friday, October 7th. StockNews.com initiated coverage on Gladstone Commercial in a report on Wednesday. They issued a “hold” rating for the company.
Gladstone Commercial Price Performance
NASDAQ GOOD traded down $0.19 during trading on Friday, reaching $15.62. The company’s stock had a trading volume of 179,408 shares, compared to its average volume of 290,480. The firm has a fifty day moving average of $18.18 and a 200 day moving average of $19.43. Gladstone Commercial has a one year low of $15.02 and a one year high of $26.13. The company has a debt-to-equity ratio of 3.43, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a market capitalization of $617.46 million, a PE ratio of 1,563.56, a P/E/G ratio of 1.73 and a beta of 1.09.
Gladstone Commercial (NASDAQ:GOOD – Get Rating) last announced its earnings results on Monday, August 1st. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.42). Gladstone Commercial had a return on equity of 6.02% and a net margin of 8.86%. The firm had revenue of $36.40 million during the quarter, compared to the consensus estimate of $36.35 million. Analysts expect that Gladstone Commercial will post 1.53 EPS for the current fiscal year.
Gladstone Commercial Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th will be paid a dividend of $0.1254 per share. The ex-dividend date is Monday, December 19th. This represents a $1.50 annualized dividend and a yield of 9.63%. Gladstone Commercial’s payout ratio is currently 15,015.02%.
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 September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock.