Gladstone Commercial Co. (NASDAQ:GOOD) Short Interest Down 40.0% in March

Gladstone Commercial Co. (NASDAQ:GOOD) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 515,500 shares, a decline of 40.0% from the February 28th total of 859,800 shares. Based on an average daily volume of 373,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Gladstone Commercial

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Gladstone Commercial by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 441,364 shares of the real estate investment trust’s stock valued at $7,168,000 after purchasing an additional 117,988 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Gladstone Commercial by 11.6% in the third quarter. Daiwa Securities Group Inc. now owns 21,304 shares of the real estate investment trust’s stock worth $346,000 after buying an additional 2,217 shares in the last quarter. D.A. Davidson & CO. boosted its stake in Gladstone Commercial by 11.3% during the third quarter. D.A. Davidson & CO. now owns 30,445 shares of the real estate investment trust’s stock valued at $494,000 after buying an additional 3,081 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Gladstone Commercial by 68.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,116 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 2,885 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Gladstone Commercial by 33.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,675 shares of the real estate investment trust’s stock worth $742,000 after acquiring an additional 11,340 shares during the last quarter. Hedge funds and other institutional investors own 45.51% of the company’s stock.

Gladstone Commercial Stock Performance

Gladstone Commercial stock traded up $0.02 during midday trading on Friday, reaching $14.90. The stock had a trading volume of 258,008 shares, compared to its average volume of 279,845. The firm has a market capitalization of $681.78 million, a PE ratio of 57.31, a P/E/G ratio of 1.82 and a beta of 1.24. Gladstone Commercial has a 12 month low of $12.85 and a 12 month high of $17.88. The company has a quick ratio of 3.54, a current ratio of 5.68 and a debt-to-equity ratio of 4.05. The firm’s 50-day moving average price is $15.74 and its 200 day moving average price is $16.17.

Gladstone Commercial (NASDAQ:GOOD) last announced its quarterly earnings results on Tuesday, February 18th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.24. Gladstone Commercial had a return on equity of 15.16% and a net margin of 16.09%. The company had revenue of $37.38 million during the quarter, compared to analysts’ expectations of $38.04 million. As a group, research analysts predict that Gladstone Commercial will post 1.45 earnings per share for the current fiscal year.

Gladstone Commercial Announces Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 27th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a dividend yield of 7.48%. Gladstone Commercial’s dividend payout ratio (DPR) is currently 461.54%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Gladstone Commercial from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

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.