Gladstone Commercial Corporation, Inc. | REIT Profile

Symbol: GOOD
CIK: 1234006
Exchange: NASDAQ
Founded: 2003 (19 years)
HQ: McLean, VA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Diversified, Industrial, Office, Health Care, Retail

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About Gladstone Commercial Corporation, Inc.

Gladstone Commercial Corporation (common stock listed on NASDAQ: GOOD) is a real estate investment trust, that invests in and owns net leased industrial, commercial and retail real property and selectively makes long-term industrial and commercial mortgage loans.


Gladstone Commercial Corporation, Inc. Company Logo

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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$18.80 $18.80 N/A N/A N/A $18.59 84,371 $0.21 1.13% $744,611,769 -404.30 $24.53 $14.80 -22.05%

Last update: 2022-11-25 10:00:00 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 7.4

Hightlights of Trading Day November 25, 2022


Open Price: $18.62
Closing Price: $18.8
Price Change: 0.21 (1.13%)
Lowest Price: $18.598
Highest Price: $18.8
52-Week Low: $14.80
52-Week High: $24.53
52-Week Change: -12.23%
5 Day Price Change: 1.70%
1 Month Price Change: 12.55%
3 Month Price Change: -4.59%
6 Month Price Change: -1.35%
YTD Price Change: -23.18%
1 Year Price Change: -12.23%
2 Year Price Change: 14.30%
5 Year Price Change: 17.18%

Dividend of Trading Day November 25, 2022


Dividend Yield: 8.004%*
Annualized Dividend: $1.5048*
Dividend Yield (TTM): 7.831%
Annualized Dividend (TTM): $1.4558
Ex-Dividend Date: 2022-11-17
Next Ex-Dividend: 2022-12-19
Dividend Frequency: Monthly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


See more news headlines for Gladstone Commercial Corporation, Inc.

Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for GOOD.

Year Quarter Type Amount Dividend Paid Payout Ratio
2022 Q3 FFO $--- $--- ---%
2022 Q3 FFO Core $--- $--- ---%
2022 Q2 FFO Core $--- $--- ---%
2022 Q2 FFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day November 25, 2022


Total Cash: $13,540,000
Current Debt: $756,371,000
Revenue: $147,070,000
Gross Profit: $147,070,000
Total Revenue: $147,070,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $103,142,000
Revenue Per Share: $4
Revenue Per Employee: N/A
Employee: N/A
Debt to Equity Ratio (D/E): 3.14
Profit Margin: -0.01%
Enterprise Value (EV): $736,220,680
Enterprise Value to Revenue (EV/R): 5.01
Price to Sales (P/S): 5.10
Price to Book (P/B): 1.94
Price/Earnings-to-Growth (PEG) Ratio: 1.80
P/E Ratio: -404.30
P/E High: -173.22
P/E Low: -215.06
Forward P/E Ratio: -757.20
Market Capitalization: $744,611,769
Beta: 0.79
Latest Volume: 84,449
Avg. Total Volume: 219,346
Avg. 10-Day Volume: 197,246
Avg. 30-Day Volume: 219,346
TTM EPS: -0.05
Shares Outstanding: 39,607,009
Float: N/A
50-Day Moving Avg.: $17.11
200-Day Moving Avg.: $18.12

Latest REIT Community Comments on #GOOD


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Properties Owned by GOOD


GOOD Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $22.25 per share you would have been able to buy 44 shares of GOOD on 2021-11-26 costing $979.00 @ $22.25 per share you would have been able to buy 22 shares of GOOD on 2021-11-26 costing $489.50 @ $22.25 per share you would have been able to buy 11 shares of GOOD on 2021-11-26 costing $244.75 @ $22.25 per share you would have been able to buy 4 shares of GOOD on 2021-11-26 costing $89.00 @ $22.25 per share you would have been able to buy 2 shares of GOOD on 2021-11-26 costing $44.50
Current worth On 2022-11-25 these 44 shares would be worth $827.20 @ $18.80 On 2022-11-25 these 22 shares would be worth $413.60 @ $18.80 On 2022-11-25 these 11 shares would be worth $206.80 @ $18.80 On 2022-11-25 these 4 shares would be worth $75.20 @ $18.80 On 2022-11-25 these 2 shares would be worth $37.60 @ $18.80
Dividends earned $71.72 in dividends would have been earned since 2021-11-26 with 44 shares. $36 in dividends would have been earned since 2021-11-26 with 22 shares. $17.93 in dividends would have been earned since 2021-11-26 with 11 shares. $6.52 in dividends would have been earned since 2021-11-26 with 4 shares. $3.26 in dividends would have been earned since 2021-11-26 with 22 shares.
Net (gain / loss)* -80.08 USD -40.04 USD -20.02 USD -7.28 USD -3.64 USD
ROI** -8.18% -8.18% -8.18% -8.18% -8.18%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by GOOD. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
GOOD 2022-11-17 0.125 --- 2022-10-11 2022-11-18 2022-11-30
GOOD 2022-10-20 0.125 --- 2022-10-11 2022-10-21 2022-10-31
GOOD 2022-09-21 0.125 --- 2022-07-12 2022-09-22 2022-09-30
GOOD 2022-08-22 0.125 --- 2022-07-12 2022-08-23 2022-08-31
GOOD 2022-07-21 0.125 --- 2022-07-12 2022-07-22 2022-07-29
GOOD 2022-06-21 0.125 --- 2022-04-12 2022-06-22 2022-06-30
GOOD 2022-05-19 0.125 --- 2022-04-12 2022-05-20 2022-05-31
GOOD 2022-04-21 0.125 --- 2022-04-12 2022-04-22 2022-04-29
GOOD 2022-03-22 0.125 --- 2022-01-11 2022-03-23 2022-03-31
GOOD 2022-02-17 0.125 --- 2022-01-11 2022-02-18 2022-02-28
GOOD 2022-01-20 0.125 0.10% 2022-01-11 2022-01-21 2022-01-31
GOOD 2021-12-22 0.125 --- 2021-10-12 2021-12-23 2021-12-31
GOOD 2021-11-18 0.125 --- 2021-10-12 2021-11-19 2021-11-30
GOOD 2021-10-21 0.125 0.10% 2021-10-12 2021-10-22 2021-10-29
GOOD 2021-09-21 0.125 --- 2021-07-13 2021-09-22 2021-09-30
GOOD 2021-08-20 0.125 --- 2021-07-13 2021-08-23 2021-08-31
GOOD 2021-07-22 0.125 --- 2021-07-13 2021-07-23 2021-07-30
GOOD 2021-06-17 0.125 --- 2021-04-13 2021-06-18 2021-06-30
GOOD 2021-05-18 0.125 --- 2021-04-13 2021-05-19 2021-05-28
GOOD 2021-04-22 0.125 --- 2021-04-13 2021-04-23 2021-04-30

Earnings Press Releases


Below are the Earnings Press Releases for GOOD. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2021 Q4 Gladstone Commercial Corporation Reports Results for the Fourth Quarter and Year Ended December 31, 2021

Financial Statements Overview


The next Earnings Report for GOOD is 2023-02-14

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Current Cash 10,741,000 9,585,000 7,956,000 0
Receivables 38,427,000 37,991,000 39,066,000 38,203,000
Inventory 0 0 0 0
Current Assets 49,168,000 47,576,000 52,244,000 48,433,000
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 1,144,221,000 1,106,833,000 1,091,108,000 1,056,361,000
Property, Plant & Equipment Net 981,091,000 964,316,000 958,586,000 915,498,000
Goodwill 0 0 0 0
Intangible Assets 111,703,000 112,655,000 114,494,000 111,782,000
Other Assets 13,306,000 9,662,000 5,363,000 5,784,000
Net Tangible Assets 100,916,000 100,607,000 86,809,000 88,477,000
Total Assets 1,193,389,000 1,154,409,000 1,143,352,000 1,104,794,000
Accounts Payable 0 0 0 0
Liabilities (Other) 57,132,000 49,798,000 47,327,000 42,164,000
Current Liabilities (Other) 12,482,000 8,937,000 10,167,000 11,188,000
Total Current Liabilities 746,458,000 714,320,000 10,167,000 685,240,000
Current Long-term Debt 733,976,000 705,383,000 0 674,052,000
Long-term Debt 0 0 707,526,000 0
Total Liabilities 810,508,000 770,886,000 771,788,000 734,271,000
Minority Interest 1,275,000 1,308,000 1,259,000 1,283,000
Common Stock 38,745,751 37,902,653 37,271,571 36,768,779
Retained Earnings -498,574,000 -482,493,000 -468,523,000 -454,494,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 382,881,000 383,523,000 371,564,000 370,523,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Total Revenue 36,399,000 35,531,000 35,306,000 34,334,000
Cost of Revenue 0 0 0 0
Gross Profit 36,399,000 35,531,000 35,306,000 34,334,000
Research and Development 0 0 0 0
Selling General and Admin 1,357,000 1,459,000 1,109,000 1,193,000
Operating Expense 26,451,000 25,658,000 25,411,000 32,186,000
Operating Income 9,948,000 9,873,000 9,895,000 2,148,000
Income Expense Net (Other) 0 0 0 0
EBIT 9,948,000 9,873,000 9,895,000 2,148,000
Interest Income 7,121,000 6,586,000 6,549,000 0
Pretax Income 1,572,000 3,386,000 3,076,000 4,498,000
Income Tax 0 0 0 0
Minority Interest -10,000 2,000 1,000 21,000
Net Income -1,499,000 322,000 -6,000 1,439,000
Net Income Basic -1,499,000 322,000 -6,000 1,439,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Net Income -1,499,000 322,000 -6,000 1,439,000
Depreciation 15,227,000 14,696,000 14,659,000 14,768,000
Changes in Receivables 38,427,000 37,991,000 39,066,000 38,203,000
Changes in Inventories 0 0 0 0
Cash Change 10,741,000 9,585,000 7,956,000 10,230,000
Cash Flow 17,421,000 17,187,000 16,433,000 19,294,000
Capital Expenditures -874,000 -942,000 -596,000 -26,838,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -40,275,000 -17,571,000 -48,821,000 -28,829,000
Dividends Paid 0 0 0 0
Net Borrowings 723,235,000 695,798,000 699,570,000 674,052,000
Cash Flow Financing 23,398,000 1,866,000 30,364,000 -22,720,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
1 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.6
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 7.0
10 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.7
10 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.4
Rating AFFO & Efficiency Section Avg. Rating
9 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 8.9
7 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.9
8 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.0
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.1
Rating Leverage Section Avg. Rating
4 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
6 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.2
Rating Asset & Revenue Section Avg. Rating
10 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.3
9 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 8.0
7 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.8
7 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.1
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.7
10 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.8
9 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
6 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.0
7.4 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-11-26 - v3.5