Gladstone Commercial Corp
NASDAQ:GOOD
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Gladstone Commercial Corp
NASDAQ:GOOD
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Gladstone Commercial Corp
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).
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).
Industrial Shift: Gladstone Commercial increased its industrial property concentration to 69% of annualized rent, up from 63% last year, with a goal to surpass 70%.
Strong Occupancy: Portfolio occupancy reached 99.1%, an all-time high since 2019, with 100% rent collections during the period.
Acquisitions & Dispositions: Acquired $206 million in industrial assets and sold two noncore properties; $21 million invested in lease renewals and extensions.
Financial Results: Q4 FFO and core FFO per share were $0.37, up from $0.35 last year; full-year FFO was $1.38 per share, slightly down from $1.41.
Liquidity & Capital: Amended and upsized credit facility to $600 million; issued $85 million in 5.99% senior unsecured notes; $60 million in liquidity available.
Pipeline & Cap Rates: Actively reviewing $300 million in potential transactions, with cap rates on target assets starting at 7.5% and averaging above 9%.
