Gladstone Commercial

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. Its portfolio consists of single-tenant commercial and industrial real properties. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

Earnings data Q1 2021

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Earnings data Q4 2021

Earnings data Q1 2022

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Gladstone Commercial reports strong Q4 earnings amidst economic challenges

Gladstone Commercial's Q4 2022 earnings call showcased solid financial performance, proactive decision-making, and strategic focus on industrial assets. While economic challenges and lease expirations pose concerns, opportunities in debt refinancing and portfolio optimization were highlighted. Executives expressed confidence in the team's performance and readiness for future growth.

Gladstone Commercial reports solid Q1 results amidst industrial focus

Gladstone Commercial's Q1 2023 performance reflects strong financial results, strategic focus on industrial assets, and proactive portfolio optimization.
The company faces challenges from economic uncertainties but stands to benefit from growth opportunities in industrial acquisitions and market conditions.
By addressing challenges, leveraging strengths, and capitalizing on opportunities, Gladstone Commercial aims to drive sustainable growth and enhance shareholder value.

Gladstone Commercial excels in Q2 with industrial asset focus

Gladstone Commercial's Q2 performance reflects a strategic focus on industrial assets, financial transparency, and effective management.
The company's strengths lie in proactive asset management, successful acquisitions, and a clear vision for portfolio composition.
Challenges include market transitions, asset disposition strategies, and maintaining financial stability amidst uncertainties, while opportunities exist in industrial growth and strategic optimizations.

Gladstone Commercial excels in Q3 with industrial asset focus

Gladstone Commercial's Q3 performance reflects a strategic emphasis on industrial assets, driving growth and financial stability.
Despite potential challenges in the commercial real estate sector, the company's strong financial position and operational focus position them well for opportunities.
With a solid performance, strategic strengths, identified challenges, and growth opportunities, Gladstone Commercial remains well-positioned for future success.

Gladstone Commercial reports strong Q4 performance and growth strategies

Gladstone Commercial's Q4 2023 earnings call showcased strong financial performance and strategic focus on industrial assets.
The company's robust debt profile and liquidity position provide a solid foundation for future growth.
While challenges like interest rate fluctuations exist, opportunities in acquisitions and portfolio optimization offer avenues for continued success.

Gladstone Commercial reports stable Q1 performance amidst industrial real estate focus

Gladstone Commercial delivered a solid performance in Q1 2024 with stable FFO and high portfolio occupancy, reflecting effective asset management.
While challenges like credit quality and market uncertainties exist, the company's strategic focus on industrial real estate presents growth opportunities.
By navigating challenges cautiously and leveraging market opportunities, Gladstone Commercial aims to sustain its financial resilience and drive future growth.

Gladstone Commercial reports strong Q3 performance and eyes industrial growth

Gladstone Commercial's Q3 performance reflects a robust financial position and strategic portfolio management.
While facing challenges in the acquisition market and lease expirations, the company is well-positioned to capitalize on growth opportunities.
By focusing on industrial asset growth and maintaining financial strength, Gladstone Commercial aims for sustained success in the coming year.

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Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. It operates through the Texas, Florida, Pennsylvania, Ohio, Georgia, North Carolina, Alabama, New Jersey, Michigan, South Carolina, and All Other States geographic locations. The company was founded by David John Gladstone on February 14, 2003 and is headquartered in McLean, VA.

MCLEAN, Va., May  20, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) is providing the following business update regarding portfolio performance during this time of market volatility related to the global COVID-19 pandemic.  

Gladstone Commercial Corporation - Provides a Business Update

MCLEAN, Va., May  19, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that Benedictine Health System (“BHS”) has moved its headquarters into and its 10-year lease has commenced at one of Gladstone Commercial’s properties, located at 6499 University Avenue, Fridley, Minnesota, a suburb of Minneapolis.  Construction of the tenant and building improvements were completed ahead of schedule in less than 90 days and below budgeted cost. Gladstone Commercial worked with Julie Kimble of Kimble Co. to manage the buildout project, with Welsh Construction acting as general contractor.

Gladstone Commercial Corporation Announces Recent Leasing Success in the Twin Cities

MCLEAN, Va., May  05, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has executed a lease extension with Elster Solutions, LLC, (“Elster”) at its 58,926 square foot office building in Raleigh, North Carolina. The lease extension maintains the property’s 100% occupancy. Additionally, Gladstone Commercial and Elster executed an extension at an adjacent manufacturing facility where Elster leases 22,198 square feet, approximately 20% of the space, with the remainder of the building fully leased to another tenant through 2027.

Gladstone Commercial Corporation Signs Lease Renewals with Elster Solutions, LLC (a wholly owned subsidiary of Honeywell International Inc.) at Raleigh, NC locations

Gladstone Commercial Corporation (GOOD) CEO David Gladstone on Q1 2020 Results - Earnings Call Transcript

Gladstone Commercial (GOOD) delivered FFO and revenue surprises of 2.56% and 10.82%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

Gladstone Commercial (GOOD) Q1 FFO and Revenues Surpass Estimates

GOOD has fallen more in price than peers.

Gladstone Commercial Fundamentally Outperforming Peers

MCLEAN, Va., April  22, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) is providing the following business update regarding portfolio performance and economic stability during this time of significant market volatility related to the global COVID-19 pandemic.  

Gladstone Commercial  Corporation Provides a Business Update

MCLEAN, Va., April  15, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has completed the first phase of a capital improvement program at 6363 NW Sixth Way in Fort Lauderdale, Florida, a five-story, 119,224 square foot office property leased to an investment-grade rated Fortune 1000 company through October 2025.

Gladstone Commercial Corporation Completes Project to Reduce Energy Costs at Fort Lauderdale Office Property

MCLEAN, Va., April  08, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced that it has closed a $1.0 Million Property Assessed Clean Energy (“PACE”) financing for its 260 Springside property in Akron, OH. The rate on the financing is 3.5%. The 84,000 SF single-story multi-tenant office building is 74% leased to Flexsys America L.P. (a subsidiary of Eastman Chemical Company) providing lab and office space for its Tire Additives Technology Center of Excellence. The financings cover 100% of the costs to replace a large portion of the building’s HVAC equipment including conversion from electric to gas for many units, to modernize fume hood controls, to install energy efficient interior lighting, and to tie all of it into a robust energy management system installed in 2019 allowing for continued refinement of energy saving strategies over the life of the equipment. Submeters will also be installed allowing for separate metering of tenants’ utility usage. In addition, the hood improvements will improve safety in the labs. When the work is complete, it is projected that the energy savings will exceed all of the financing costs making the investment cashflow positive for the tenants with no out of pocket cost for Gladstone Commercial.

Gladstone Commercial Corporation Completes $1.0 Million PACE-Funded Financing for Energy Saving Improvements at Akron, OH Property

MCLEAN, Va., April  02, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has worked with ViaQuest Inc., its single tenant at 525 Metro in Dublin, OH, to complete a second improvement financing via the Property Assessed Clean Energy (“PACE”) program.  525 Metro is a four-story, 78,000 square foot office property in Dublin, Ohio that serves as ViaQuest’s headquarters.  The combined financings cover 100% of the costs to replace the cooling tower, boiler and HVAC equipment, to complete an elevator modernization, and to install energy efficient interior and exterior lighting, and a robust energy management system allowing for continued refinement of energy saving strategies over the life of the equipment.  In order to accommodate the most cost-efficient equipment for ViaQuest, the project included bringing natural gas into the building.

Gladstone Commercial Corporation Completes 2nd PACE-Funded Financing for $900,000+ For Energy Saving Improvements at Columbus, OH Property

MCLEAN, Va., March  24, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that its Executive Leadership has issued the following Letter to Shareholders.

Gladstone Commercial Corporation Provides Corporate Update

MCLEAN, Va., March  10, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it acquired a 504,400 square foot industrial distribution center in Crandall, GA for $30.3 million on March 9, 2020. The initial capitalization rate for the acquisition was 6.3%, with an average capitalization rate of 6.9%.

Gladstone Commercial Announces $30.3 Million Industrial Acquisition in Crandall, GA

Gladstone Commercial Corp 7% Cum Red Pfd Shs Series D

Gladstone's 6.2% Yield: As Interest Rates Fall, Monthly Preferred Shares Become Attractive

MCLEAN, Va., Feb.  20, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (the “Company”) today announced that it has filed a new prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for a continuous public offering of up to 20,000,000 shares (the “Offering”) of its newly-designated 6.00% Series F Cumulative Redeemable Preferred Stock (the “Series F Preferred Stock”) at an offering price of $25.00 per share (the “Primary Offering”), and up to 6,000,000 shares of Series F Preferred Stock pursuant to a dividend reinvestment plan at a price of $22.75 per share to those stockholders who participate in such dividend reinvestment plan (the “DRIP Offering”). The Company expects up to $500.0 million in gross proceeds from the Primary Offering and up to $136.5 million from the DRIP Offering and an aggregate of approximately $591.5 million in net proceeds, after payment of dealer manager fees and selling commissions and estimated expenses of the offering payable by the Company, assuming all shares of the Series F Preferred Stock are sold in the Primary Offering and the DRIP Offering.  Gladstone Securities, LLC, an affiliate of the Company, will serve as the Company’s exclusive dealer manager in connection with the Offering. The Series F Preferred Stock is being offered by Gladstone Securities on a “reasonable best efforts” basis.

Gladstone Commercial Corporation Files for Public Offering of 6.00% Series F Cumulative Redeemable Preferred Stock

Gladstone Commercial Corporation (GOOD) CEO David Gladstone on Q4 2019 Results - Earnings Call Transcript

Gladstone Commercial (GOOD) delivered FFO and revenue surprises of 0.00% and -1.37%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

Gladstone Commercial (GOOD) Q4 FFO Match Estimates

MCLEAN, Va., Feb.  10, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today it completed the extension of an existing lease with a publicly traded broadband satellite services provider at its 349 Inverness Drive South office property in Englewood, CO. The tenant will occupy the entire 99,797 square foot building for an additional 63 months through December 31, 2026.

Gladstone Commercial Corporation Completes 99,797 SF Lease Extension at Office Property in Englewood, CO

MCLEAN, Va., Jan.  28, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it completed the acquisition of a 320,838 square foot, three building industrial portfolio with locations in Houston, Texas; Charlotte, North Carolina; and St. Charles, Missouri on January 27, 2020.

Gladstone Commercial Announces Industrial Portfolio Acquisition

MCLEAN, Va., Jan.  21, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it completed the extension of its existing lease with T-Mobile USA, Inc. (“T-Mobile”) at its 2645 N. Airport Plaza Avenue office property in Springfield, MO.  T-Mobile will occupy the entire building for an additional five years through May 31, 2026.  

Gladstone Commercial Corporation Completes Lease Extension at Office Property in Missouri

MCLEAN, Va., Jan.  15, 2020  (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has signed a lease with Benedictine Heath System (“BHS”) at 6499 University Avenue, Gladstone’s office property in Fridley, Minnesota, a suburb of Minneapolis. Construction of building improvements will begin immediately and include significant common area upgrades in addition to tenant improvements for the tenant. BHS is one of the largest Catholic senior care organizations in the United States. Benedictine owns and manages skilled nursing, assisted living and independent living communities across the upper Midwest and offers services in such areas as therapy, rehabilitation, memory care, home health care, adult day and transitional care. BHS signed a ten-year lease for 35,757 square feet, or approximately half of the 72,428 square foot office building.

Gladstone Commercial Corporation Executes $4 Million Lease at Minneapolis Office Property

Gladstone's (GOOD) latest buyout in Indianapolis is in line with efforts to boost the company's share to premium industrial buildings in key markets and improve tenant roster with credit-worthy ones.

Gladstone Buys Industrial Asset, Grows Indianapolis Portfolio

MCLEAN, Va., Jan.  09, 2020  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it completed the acquisition of a 64,800 square foot industrial building in Indianapolis, Indiana on January 8, 2020 for $5.2 million. The initial capitalization rate for the acquisition was 6.72%, with an average capitalization rate of 7.24%. Gladstone Commercial issued common units in its operating partnership to fund a portion of the acquisition.

Gladstone Commercial Announces $5.2 Million Industrial Acquisition in Indianapolis, IN

As one of the few publicly traded companies offering a monthly payout, this REIT has great advantages, but some warning signs as well.

Is Gladstone Commercial Corporation a Great Dividend Stock?

Gladstone's (GOOD) latest acquisition is in line with its efforts to boost its share to premium industrial buildings in key markets and improve tenant roster.

Gladstone Buys Industrial Property in Carrollton for $8M

MCLEAN, Va., Dec.  23, 2019  (GLOBE NEWSWIRE) --  Gladstone Commercial Corporation  (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it completed the acquisition of a 117,000 square foot industrial building in Carrollton, Georgia on December 17, 2019, for $8 million. The initial capitalization rate for the acquisition was 6.6%, with an average capitalization rate of 7.4%.

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