Gladstone Commercial Corp
NASDAQ:GOOD

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Gladstone Commercial Corp
NASDAQ:GOOD
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Price: 10.76 USD -1.01% Market Closed
Market Cap: 533.9m USD

Gladstone Commercial Corp
Investor Relations

Gladstone Commercial Corp. is a real estate investment trust, which engages in the acquisition, managing and ownership of office and industrial properties. The company is headquartered in Mc Lean, Virginia. The company went IPO on 2003-08-13. The firm is focused on acquiring, owning and managing primarily office and industrial properties. The firm conducts its operations through a subsidiary, Gladstone Commercial Limited Partnership (Operating Partnership). Its real estate portfolio consists of approximately 129 properties totaling 16.2 million square feet of rentable space, located in over 27 states. Its portfolio consists primarily of single-tenant industrial and office real property. The firm's properties are located in various states of the United States, such as Florida, Texas, Pennsylvania, Ohio, Georgia, Utah, North Carolina, Alabama, Michigan and South Carolina. The firm's properties have tenants from various industries, such as telecommunications, diversified/conglomerate services, healthcare, automotive, banking, diversified/conglomerate manufacturing, personal, food and miscellaneous services, and information technology (IT).

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 4, 2025
AI Summary
Q3 2025

Portfolio Focus: Gladstone Commercial is increasing its industrial allocation, now at 69% of annualized straight-line rents, and expects this to continue growing beyond 70%.

Occupancy & Leasing: Portfolio occupancy reached 99.1%, the highest since Q1 2019, with successful leasing activity on 734,000 square feet and strong rent collections.

Financial Performance: Q3 operating revenues rose to $40.8 million, operating expenses dropped to $26 million, and FFO per share was $0.35, down from $0.38 a year ago.

Balance Sheet Actions: The company increased and extended its credit facility to $600 million and raised $61 million through equity issuance.

CapEx & Dividend: Elevated Q3 capital expenditures were driven by accretive leasing renewals; management remains confident in the sustainability of the $0.30 per share quarterly dividend.

Expense Headwinds: Same-property operating expenses rose over 20%, mainly due to inflation and higher insurance costs, though some costs are passed through to tenants.

Guidance & Outlook: Cap rates are expected to compress further, future CapEx is anticipated to decline, and acquisition activity will remain focused on high-quality industrial assets.

Key Financials
Operating Revenues
$40.8 million
Operating Expenses
$26 million
FFO per Share
$0.35
Core FFO per Share
$0.35
Same-store Lease Revenue Growth
3.1%
Portfolio Occupancy
99.1%
Weighted Average Lease Term
7.5 years
Industrial Concentration
69%
Dividends per Share
$0.30 per quarter ($1.20 per year)
Net Assets
$1.265 billion
New Acquisitions (Year-to-date)
$206 million
Leasing Activity
734,000 sq ft
Straight-line Rent Increase from Leasing
$1.1 million annual increase
Credit Facility Size
$600 million
ATM Equity Raised (YTD)
$61 million
Cash on Hand
$6 million
Line of Credit Availability
$63 million
Earnings Call Recording
Other Earnings Calls

Management

Ms. Paula Novara
Head of Resource Management & Director
No Bio Available
Mr. David John Gladstone
Founder, Chairman & CEO
No Bio Available
Mr. Arthur S. Cooper
President
No Bio Available
Mr. Gary Gerson CFA
Chief Financial Officer & Assistant Treasurer
No Bio Available
Mr. Terry Lee Brubaker
Chief Operating Officer
No Bio Available
Mr. John Anthony Dellafiora Jr., CPA
Chief Compliance Officer
No Bio Available
Mr. Michael Bernard LiCalsi Esq., J.D.
General Counsel & Secretary
No Bio Available
Mr. Ryan Carter
Executive VP and Head of West & Midwest Region
No Bio Available
Mr. Todd Alan McDonald
Senior Vice President & Head of South Central Region
No Bio Available
Mr. Jay Beckhorn CPA
Treasurer
No Bio Available

Contacts

Address
VIRGINIA
MC LEAN
1521 Westbranch Dr Ste 100
Contacts