Gladstone Commercial Co. (NASDAQ:GOOD) was the target of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totalling 217,100 shares, a decrease of 15.3% from the October 15th total of 256,200 shares. Based on an average daily trading volume, of 182,100 shares, the short-interest ratio is presently 1.2 days.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC grew its holdings in Gladstone Commercial by 2.9% during the 3rd quarter. Aperio Group LLC now owns 34,460 shares of the real estate investment trust's stock valued at $580,000 after purchasing an additional 973 shares in the last quarter. Winslow Evans & Crocker Inc. grew its holdings in Gladstone Commercial by 42.6% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 3,350 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 1,000 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Gladstone Commercial by 19.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,982 shares of the real estate investment trust's stock valued at $134,000 after purchasing an additional 1,321 shares in the last quarter. American International Group Inc. grew its holdings in Gladstone Commercial by 7.0% during the 2nd quarter. American International Group Inc. now owns 20,576 shares of the real estate investment trust's stock valued at $386,000 after purchasing an additional 1,341 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Gladstone Commercial by 6.4% during the 2nd quarter. D.A. Davidson & CO. now owns 23,841 shares of the real estate investment trust's stock valued at $447,000 after purchasing an additional 1,436 shares in the last quarter. 57.61% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on GOOD shares. Zacks Investment Research downgraded shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research note on Wednesday, September 30th. Wedbush reaffirmed an "outperform" rating on shares of Gladstone Commercial in a research note on Tuesday, November 10th. BidaskClub downgraded shares of Gladstone Commercial from a "hold" rating to a "sell" rating in a research note on Saturday, November 7th. National Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Gladstone Commercial in a research note on Thursday, August 13th. Finally, Janney Montgomery Scott reissued a "buy" rating and issued a $20.00 target price on shares of Gladstone Commercial in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company's stock. The company has an average rating of "Hold" and an average target price of $20.80.
Shares of GOOD stock traded up $0.05 during mid-day trading on Friday, reaching $18.10. The company's stock had a trading volume of 112,882 shares, compared to its average volume of 222,522. The company's 50 day simple moving average is $17.22 and its 200-day simple moving average is $17.78. Gladstone Commercial has a 12-month low of $7.59 and a 12-month high of $23.07. The company has a quick ratio of 7.34, a current ratio of 7.34 and a debt-to-equity ratio of 3.20. The firm has a market capitalization of $620.25 million, a PE ratio of -64.64 and a beta of 0.99.
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be paid a $0.1252 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Tuesday, December 22nd. Gladstone Commercial's dividend payout ratio is presently 94.94%.
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 June 2020, Gladstone Commercial has paid 186 consecutive monthly cash distributions on its common stock.
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