Gladstone Commercial Corporation GOOD R2K

Real Estate · REIT - Diversified · United States

https://www.gladstonecommercial.com

Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of March 31, 2026, Gladstone Commercial's real estate portfolio consisted of 151 properties located in 27 states, totaling approximately 17.7 million square feet. Gladstone Commercial Corporation was established on February 14, 2003 and incorporated in Maryland and is based in McLean, United States.

Market & Price

Market Cap

$615.69M

Current Price

$12.61

High / Low (52W)

$13.43 / $9.95

Beta

1.08

Valuation

Stock P/E

70.06

Industry PE

26.58

Forward P/E

76.42

PEG Ratio

39.84

Book Value

$3.38

Price to Book

3.73

P/S

3.71

EV/EBITDA

13.77

Dividend Yield

9.52%

Profitability & Returns

ROCE

5.22%

ROE

6.15%

ROA

3.29%

Profit Margin

12.74%

Op Margin

39.77%

EPS (Latest Qtr)

$0.08

EPS (TTM)

$0.18

Balance Sheet & Liquidity

Debt/Equity

2.53

Quick Ratio

1.47

Current Ratio

1.92

Debt

$843.42M

Total Assets

$1.25B

Current Assets

$33.19M

Working Capital

$-35.95M

Ownership

Promoter Holding

1.27%

Chg in Prom Hold

FII / Inst Holding

52.47%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$1.61B

Total Revenue (TTM)

$165.74M

EBITDA

$116.99M

Free Cash Flow

$78.14M

Operating Cash Flow

$88.38M

Shares Outstanding

48.41M

Gross Margin

78.54%

Payout Ratio

666.67%

Growth (CAGR)

Revenue 5Y

2.69%

Profit 5Y

21.30%

Revenue (YoY)

11.80%

Earnings (YoY)

84.40%

PROS

Profit CAGR of 21.3% over 5 years.
Attractive dividend yield of 9.52%.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 70.1.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Real Estate).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	GOOD Gladstone Commercial Corporation R2K	12.61	70.06	$615.69M	9.52%	5.22%	6.15%	2.69%	21.30%
2	WELL Welltower Inc. SPX	205.33	99.19	$144.95B	1.44%	0.26%	3.67%	22.69%	87.90%
3	PLD Prologis, Inc. SPX	143.47	36.14	$133.76B	2.98%	4.94%	6.84%	13.74%	-0.36%
4	EQIX Equinix, Inc. SPX	1,068.04	74.07	$105.33B	1.84%	5.61%	10.06%	8.27%	24.18%
5	AMT American Tower Corporation SPX	186.96	30.11	$87.10B	3.73%	7.82%	29.95%	3.34%	12.73%
6	SPG Simon Property Group, Inc. SPX	204.91	14.25	$77.86B	4.29%	17.44%	113.59%	6.35%	29.32%
7	DLR Digital Realty Trust, Inc. SPX	190.00	50.53	$67.96B	2.57%	3.99%	5.69%	9.22%	51.32%
8	O Realty Income Corporation SPX	61.28	50.23	$57.14B	5.30%	3.27%	2.83%	19.80%	6.78%
9	PSA Public Storage SPX	303.69	31.34	$53.31B	3.95%	10.69%	20.18%	4.88%	-25.69%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	22.31M	22.87M	24.36M	25.25M	26.35M	26.59M	26.59M	27.26M	28.14M	28.20M	28.67M	29.39M	33.62M	33.52M	33.14M	34.68M	33.37M	34.33M	35.53M	36.40M	39.83M	36.55M	38.66M	36.46M	35.72M	37.06M	-	-	37.50M	39.53M	40.84M	43.46M	41.91M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8.47M	8.90M	9.11M	8.79M	8.77M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29.03M	30.64M	31.73M	34.67M	33.14M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15.39M	16.95M	17.62M	17.68M	17.07M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13.64M	13.69M	14.11M	17.00M	16.07M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27.52M	28.95M	30.12M	32.89M	33.23M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.14M	10.06M	10.70M	12.01M	11.45M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.14M	4.63M	4.14M	5.38M	6.97M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income	431.00K	-96.00K	2.57M	853.00K	883.00K	-73.00K	2.29M	4.36M	661.00K	2.38M	-1.46M	4.61M	2.52M	2.68M	2.52M	4.63M	2.22M	2.21M	472.00K	2.27M	993.00K	2.85M	79.00K	2.18M	4.52M	3.44M	1.63M	2.79M	3.17M	-4.51M	1.79M	3.52M	1.61M	-	-	5.13M	4.63M	4.14M	5.38M	6.97M
Diluted EPS	-0.04	-0.06	-	-0.02	-0.03	-0.10	-	0.07	-0.08	-0.01	-	0.06	-0.01	-0.01	-	0.06	-0.02	-0.02	-	-0.02	-0.06	-0.00	-0.08	-0.08	0.04	0.01	-0.04	-0.01	0.00	-0.19	-0.04	0.01	-0.04	0.20	-	0.04	0.03	0.02	-	0.08

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	86.37M	94.80M	106.80M	114.39M	133.15M	-	148.98M	147.58M	149.39M	161.34M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	33.16M	32.24M	31.53M	35.27M
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	115.82M	115.35M	117.86M	126.07M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	70.99M	64.57M	66.72M	67.63M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	44.83M	50.78M	51.14M	58.44M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	103.42M	100.14M	117.23M	119.48M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	32.46M	37.33M	37.40M	41.91M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	10.78M	4.92M	24.04M	19.29M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income	4.60M	4.93M	5.71M	3.76M	1.53M	-5.90M	3.60M	3.96M	5.94M	12.32M	9.63M	14.94M	-	10.80M	4.99M	24.00M	19.29M
Diluted EPS	-	0.09	0.15	-0.04	-0.22	-0.61	-0.07	-0.16	-0.19	0.03	-0.16	0.09	-0.09	-0.04	-0.19	0.27	-

Compounded Sales Growth

5 Years:	2.69%
1 Year:	11.80%

Compounded Profit Growth

5 Years:	21.30%
1 Year:	84.40%

Stock Price Performance

1 Year:	-3.01%
6 Months:	+20.12%
3 Months:	+3.48%
1 Month:	+1.05%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	410.61M	453.15M	564.78M	690.52M	787.79M	827.18M	851.74M	928.45M	938.77M	1.04B	1.10B	-	1.20B	1.13B	1.09B	1.25B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	28.10M	52.44M	43.42M	33.19M
Cash & Equivalents	4.50M	3.10M	7.06M	3.33M	5.55M	8.55M	8.60M	5.15M	4.66M	6.68M	6.59M	6.85M	11.02M	-	11.65M	11.98M	10.96M	10.81M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.29M	27.50M	4.34M	10.43M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	18.62M	0
Total Liabilities	-	-	299.23M	317.83M	442.41M	507.38M	570.12M	593.31M	541.12M	578.22M	598.76M	676.32M	722.59M	-	996.94M	979.21M	923.05M	1.08B
Current Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	76.21M	121.89M	39.63M	69.14M
Long Term Debt	-	-	-	304.05M	384.19M	447.00M	502.60M	-	509.39M	542.63M	566.06M	626.59M	669.28M	-	725.96M	663.11M	691.49M	806.10M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	754.51M	743.95M	697.45M	850.25M
Total Equity	130.50M	118.45M	111.38M	135.31M	122.36M	183.15M	217.67M	233.87M	239.88M	266.80M	249.74M	208.13M	213.18M	-	203.90M	153.28M	171.17M	171.77M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.74M	40.00M	43.99M	48.41M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	17.01M	18.11M	19.66M	23.41M	19.89M	28.20M	31.49M	41.16M	46.84M	55.60M	60.19M	65.49M	-	69.18M	60.37M	56.95M	88.15M
Investing Cash Flow	-907.00K	8.07M	-46.00M	-91.98M	-137.06M	-130.44M	-74.48M	-59.85M	-99.86M	-34.44M	-132.04M	-100.26M	-	-82.51M	1.14M	-1.73M	-221.38M
Financing Cash Flow	-17.51M	-22.21M	22.61M	70.80M	120.17M	102.30M	39.55M	17.02M	54.41M	-21.16M	74.25M	39.35M	-	16.15M	-61.36M	-56.29M	134.74M
Capital Expenditure	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-	-	-	-	-	-	69.18M	60.37M	56.95M	88.15M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	2.81M	143.00K	-1.06M	1.52M
Share Buybacks	-	-	-	-	-	0	0	178.00K	24.00K	34.00K	0	0	-	0	998.00K	0	0
Dividends Paid	16.94M	16.98M	19.61M	20.61M	23.94M	30.36M	36.87M	42.49M	50.41M	54.56M	58.89M	63.76M	67.59M	71.09M	60.62M	62.79M	68.17M

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	77.7%	78.2%	78.9%	78.1%
Operating Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	30.1%	34.4%	34.2%	36.2%
Net Margin %	-	-	-	-	-	-	-	4.6%	6.3%	11.5%	8.4%	11.2%	-	7.3%	3.4%	16.1%	12.0%
ROE %	3.9%	4.4%	4.2%	3.1%	0.8%	-2.7%	1.5%	1.7%	2.2%	4.9%	4.6%	7.0%	-	5.3%	3.3%	14.0%	11.2%
ROCE %	-	-	-	-	-	-	-	-	-	-	-	-	-	4.0%	5.0%	4.8%	5.0%

Shareholding Pattern

Insiders

1.27%

Institutions

52.47%

Public Float

53.14%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	8.96%	4.34M	$54.68M
2	Vanguard Portfolio Management LLC	5.24%	2.54M	$31.99M
3	Vanguard Capital Management LLC	4.29%	2.08M	$26.19M
4	State Street Corporation	3.14%	1.52M	$19.16M
5	Geode Capital Management, LLC	2.83%	1.37M	$17.27M
6	Renaissance Technologies, LLC	2.42%	1.17M	$14.76M
7	Invesco Ltd.	2.09%	1.01M	$12.75M
8	Goldman Sachs Group Inc	1.62%	785.98K	$9.91M
9	Charles Schwab Investment Management, Inc.	1.52%	737.99K	$9.31M
10	Dimensional Fund Advisors LP	1.36%	657.27K	$8.29M

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