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Gladstone Commercial (GOOD)

Market Price (12/18/2025): $11.015 | Market Cap: $516.4 Mil
Sector: Real Estate | Industry: Diversified REITs

Gladstone Commercial (GOOD)

Market Price (12/18/2025): $11.015
Market Cap: $516.4 Mil
Sector: Real Estate
Industry: Diversified REITs

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, Dividend Yield is 2.8%, FCF Yield is 16%	Weak multi-year price returns 2Y Excs Rtn is -45%, 3Y Excs Rtn is -95%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 144%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61%		Key risks GOOD key risks include [1] high financial leverage and debt, Show more.
2	Low stock price volatility Vol 12M is 21%
3	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers, Sustainable & Green Buildings, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, Dividend Yield is 2.8%, FCF Yield is 16%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61%
2	Low stock price volatility Vol 12M is 21%
3	Megatrend and thematic drivers Megatrends include E-commerce Logistics & Data Centers, Sustainable & Green Buildings, and Automation & Robotics. Themes include E-commerce Logistics REITs, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -45%, 3Y Excs Rtn is -95%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 144%
6	Key risks GOOD key risks include [1] high financial leverage and debt, Show more.

Valuation, Metrics & Events

	12/18/25	2024	2023	2022	2021
Share Price CYE	$11.02	$14.98	$11.24	$14.35	$18.51
Market Cap CYE ($ Mil)	516.4	658.3	449.2	568.5	689.8
Total Debt ($ Mil)	850.1	697.4	744.0	754.5	713.0
Total Cash ($ Mil)	18.4	11.0	12.0	11.7	8.0
Enterprise Value ($ Mil)	1,348.1	1,355.7	1,193.2	1,323.0	1,402.8
Valuation Ratios
P/S TTM	3.7	4.54	3.58	4.84	6.84
P/EBIT TTM	9.6	11.04	12.52	16.67	24.92
P/E TTM	27.3	28.26	106.09	66.69	86.11
Sector Ratios
P/S TTM (Sector)	4.27	4.07	4.20	4.34	6.60
P/EBIT TTM (Sector)	13.60	14.39	13.83	14.00	17.90
P/E TTM (Sector)	18.47	19.90	19.91	18.19	23.71

	12/18/25	2024	2023
Share Price CYE	$11.02	$14.98	$11.24
Market Cap CYE ($ Mil)	516.4	658.3	449.2
Total Debt ($ Mil)	850.1	697.4	744.0
Total Cash ($ Mil)	18.4	11.0	12.0
Enterprise Value ($ Mil)	1,348.1	1,355.7	1,193.2
Valuation Ratios
P/S TTM	3.7	4.54	3.58
P/EBIT TTM	9.6	11.04	12.52
P/E TTM	27.3	28.26	106.09
Sector Ratios
P/S TTM (Sector)	4.27	4.07	4.20
P/EBIT TTM (Sector)	13.60	14.39	13.83
P/E TTM (Sector)	18.47	19.90	19.91

	GOOD	S&P 500
REVENUE GROWTH	POOR
Rev LTM ($ Bil)	0.2
Rev Chg Q	4.1%	7.3%
Rev Chg LTM	5.0%	6.0%
Rev Chg 3Y Avg	1.8%	5.5%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.1
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	35.3%	18.8%
CFO/Rev LTM	61.3%	20.4%
Net Inc Mgn	13.6%	13.1%
VALUATION	HIGH
P/S	3.7	3.2
P/CFO	6.1	16.0
P/FCF	6.1	20.7
P/E	27.3	23.5

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Metric	Value	Date	Source
Number of Properties	151	9302025	Link
Total Square Feet	17.7 million	9302025	Link
Occupancy Rate	99.1%	9302025	Link
Number of States	27	9302025	Link
Number of Tenants	110	9302025	Link
Industrial Concentration by Rent	69%	11042025	Link
Cash Base Rent Collection	100%	6302025	Link
Weighted Average Lease Term (for recent acquisitions)	14.3 years	6302025	Link
Same Store Lease Revenue Increase	6.4%	6302025	Link

Upcoming
12/22/2025	Dividend	Amount: $0.10 Payment On: 12/31/2025
2/17/2026	Earnings Release	Rev: - EPS: -

GOOD Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Between August 31, 2025, and December 18, 2025, Gladstone Commercial (GOOD) experienced a stock price decline of approximately 15.9%. Several key factors contributed to this negative movement:

1. Q3 2025 Earnings Miss: Gladstone Commercial reported its third-quarter 2025 earnings, revealing a significant shortfall in earnings per share (EPS). The company posted an EPS of $0.02, which was 80% lower than the forecasted $0.10. Additionally, Funds from Operations (FFO) of $0.35 per share missed the consensus estimate of $0.39. This substantial earnings miss likely dampened investor confidence despite revenue slightly exceeding projections.

2. Stock Reaching a New 52-Week Low: Around November 21, 2025, Gladstone Commercial's shares hit a new 52-week low at $10.53, indicating a strong bearish trend and concerns among investors regarding the company's performance and outlook. The stock remained near its 52-week low of $10.91 following the Q3 earnings disappointment.

3. High Dividend Payout Ratio and Sustainability Concerns: The company's high dividend payout ratio, reported as 654.67% or 666.67%, and its dividend payments not being well covered by earnings (107.9% payout ratio) raised concerns about the long-term sustainability of its dividend, despite the attractive yield. This suggests that Gladstone Commercial was distributing more cash than it generated from its earnings, which can be a red flag for investors.

4. Elevated Leverage: Gladstone Commercial maintained a high debt-to-equity ratio of 4.50 or 4.61 and a net debt to gross assets ratio of 47.4% as of Q3 2025. While the company undertook actions like issuing $85 million in senior unsecured notes in December 2025 to repay outstanding indebtedness and enhance financial flexibility, the overall high leverage likely remained a concern for investors, particularly in a potentially rising interest rate environment.

5. Overall Bearish Sentiment and Technical Indicators: Technical analysis and stock forecasts around December 2025 indicated a bearish sentiment for Gladstone Commercial, with some analyses even suggesting a "Strong Sell" outlook. These indicators, coupled with the stock appearing overvalued based on its P/E ratio, contributed to a negative market perception and downward pressure on the stock price.

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Stock Movement Drivers

Fundamental Drivers

The -12.6% change in GOOD stock from 9/17/2025 to 12/17/2025 was primarily driven by a -27.1% change in the company's Net Income Margin (%).

	9172025	12172025	Change
Stock Price ($)	12.62	11.03	-12.62%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	153.64	155.25	1.05%
Net Income Margin (%)	18.64%	13.59%	-27.10%
P/E Multiple	20.38	24.51	20.30%
Shares Outstanding (Mil)	46.22	46.88	-1.42%
Cumulative Contribution			-12.64%

LTM = Last Twelve Months as of date shown

Market Drivers

9/17/2025 to 12/17/2025

	Return	Correlation
GOOD	-12.6%
Market (SPY)	1.9%	33.0%
Sector (XLRE)	-3.1%	47.1%

Fundamental Drivers

The -20.3% change in GOOD stock from 6/18/2025 to 12/17/2025 was primarily driven by a -19.8% change in the company's Net Income Margin (%).

	6182025	12172025	Change
Stock Price ($)	13.84	11.03	-20.29%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	151.17	155.25	2.70%
Net Income Margin (%)	16.94%	13.59%	-19.81%
P/E Multiple	24.10	24.51	1.71%
Shares Outstanding (Mil)	44.61	46.88	-5.09%
Cumulative Contribution			-20.50%

LTM = Last Twelve Months as of date shown

Market Drivers

6/18/2025 to 12/17/2025

	Return	Correlation
GOOD	-20.3%
Market (SPY)	12.7%	35.6%
Sector (XLRE)	-1.8%	59.3%

Fundamental Drivers

The -27.8% change in GOOD stock from 12/17/2024 to 12/17/2025 was primarily driven by a -20.0% change in the company's P/E Multiple.

	12172024	12172025	Change
Stock Price ($)	15.28	11.03	-27.82%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	147.92	155.25	4.95%
Net Income Margin (%)	14.43%	13.59%	-5.86%
P/E Multiple	30.63	24.51	-19.97%
Shares Outstanding (Mil)	42.79	46.88	-9.55%
Cumulative Contribution			-28.48%

LTM = Last Twelve Months as of date shown

Market Drivers

12/17/2024 to 12/17/2025

	Return	Correlation
GOOD	-27.8%
Market (SPY)	12.1%	47.5%
Sector (XLRE)	-1.4%	69.2%

Fundamental Drivers

The -24.6% change in GOOD stock from 12/18/2022 to 12/17/2025 was primarily driven by a -48.9% change in the company's P/E Multiple.

	12182022	12172025	Change
Stock Price ($)	14.62	11.03	-24.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	147.07	155.25	5.56%
Net Income Margin (%)	8.19%	13.59%	65.82%
P/E Multiple	47.93	24.51	-48.86%
Shares Outstanding (Mil)	39.50	46.88	-18.66%
Cumulative Contribution			-27.18%

LTM = Last Twelve Months as of date shown

Market Drivers

12/18/2023 to 12/17/2025

	Return	Correlation
GOOD	-0.8%
Market (SPY)	44.9%	41.9%
Sector (XLRE)	8.5%	67.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
GOOD Return	-10%	54%	-23%	-22%	33%	-27%	-18%
Peers Return	-6%	36%	-14%	3%	-7%	17%	24%
S&P 500 Return	16%	27%	-19%	24%	23%	14%	108%
Monthly Win Rates [3]
GOOD Win Rate	50%	75%	33%	33%	50%	42%
Peers Win Rate	55%	67%	45%	48%	48%	62%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
GOOD Max Drawdown	-64%	-2%	-38%	-40%	-8%	-30%
Peers Max Drawdown	-41%	-6%	-27%	-19%	-12%	-19%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: STAG, WPC, O, NNN, LXP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/17/2025 (YTD)

How Low Can It Go

Unique Key	Event	GOOD	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-57.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	137.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-65.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	188.9%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	447 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-27.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	37.4%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	561 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-71.0%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	244.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,493 days	1,480 days

Compare to WPC, ALEX, CTO, OLP, EPRT

In The Past

Gladstone Commercial's stock fell -57.9% during the 2022 Inflation Shock from a high on 12/31/2021. A -57.9% loss requires a 137.7% gain to breakeven.

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About Gladstone Commercial (GOOD)

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, Gladstone Commercial paid five consecutive quarterly cash distributions. The company has also paid 53 consecutive monthly cash distributions on its Series D Preferred Stock, 12 consecutive monthly cash distributions on its Series E Preferred Stock and three consecutive monthly cash distributions on its Series F Preferred Stock. Gladstone Commercial has never skipped, reduced or deferred a distribution since its inception in 2003.

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McDonald's for commercial real estate
A utility for commercial properties

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Gladstone Commercial (GOOD) Major Services:

Commercial Real Estate Leasing: Provides office and industrial properties for lease to businesses, primarily through triple-net and other long-term lease agreements.

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Gladstone Commercial (symbol: GOOD) is a Real Estate Investment Trust (REIT) that owns and leases commercial properties, primarily office and industrial. Therefore, its customers are other companies that lease space from them.

Major customer companies (tenants), based on recent financial reports and investor presentations, include:

General Motors Corporation (NYSE: GM)
The Hartford Financial Services Group, Inc. (NYSE: HIG)
Iron Mountain Incorporated (NYSE: IRM)
Lowe's Companies, Inc. (NYSE: LOW)

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David Gladstone, Chairman and Chief Executive Officer

Mr. Gladstone is the Founder of Gladstone Commercial Corporation, having served as its Chief Executive Officer and Chairman of the Board since its inception in 2003. He also founded and continues to serve as Chief Executive Officer and Chairman of the board of directors for several Gladstone affiliates, including Gladstone Capital Corporation, Gladstone Investment Corporation, and Gladstone Land Corporation. Prior to founding the Gladstone family of companies in 2001, Mr. Gladstone served as either Chairman or Vice Chairman of American Capital, Ltd., a publicly-traded leveraged buyout fund and mezzanine debt finance company, from 1997 to 2001. From 1974 to 1997, he held various positions, including Chairman and Chief Executive Officer, with Allied Capital Corporation and its affiliates, which were a group of publicly-traded mezzanine debt funds. He managed the growth of Allied Capital Commercial Corporation, a publicly-traded REIT, from its initial public offering to $385 million in assets at the time of its merger into Allied Capital Corporation in 1997. Mr. Gladstone was also the founder and managing member of The Capital Investors, LLC, a group of angel investors.

Gary Gerson, Chief Financial Officer and Assistant Treasurer

Mr. Gerson was appointed Chief Financial Officer of Gladstone Commercial in June 2021, having previously served as Interim Chief Financial Officer from March 2021 until June 2021. He also served as the Treasurer for the Gladstone Companies from February 2006 until January 2012. Before rejoining Gladstone Commercial in 2021, Mr. Gerson was Chief Financial Officer of Spotted Hawk Development, LLC, an Apollo Investment Corporation portfolio company, from February 2013 to August 2020.

Buzz Cooper, President

Mr. Cooper joined the Gladstone Companies at their inception in June 2001 and Gladstone Commercial Corporation at its initial public offering in 2003. He became the sole President of the Company on July 1, 2022, following his appointment as Co-President in January 2022. Previously, he served as the Chief Investment Officer of the Company. During his tenure, Mr. Cooper has been responsible for acquiring the majority of the Company's real estate portfolio. Prior to joining Gladstone, he was a Senior Vice President and Principal of Allied Capital Corporation and its affiliate funds from 1986 to 2000, where he was responsible for originating commercial real estate loans and servicing a portfolio of over $300 million in debt instruments and mortgages.

Jay Beckhorn, Treasurer

Mr. Beckhorn was appointed Treasurer in January 2015 and previously served as Assistant Treasurer from July 2014. He also serves as Treasurer for Gladstone Land Corporation and Assistant Treasurer for Gladstone Capital Corporation and Gladstone Investment Corporation. Mr. Beckhorn joined the Gladstone Companies in January 2013 as Managing Director, Finance.

EJ Wislar, Chief Investment Officer

Mr. Wislar was appointed Chief Investment Officer of Gladstone Commercial Corporation, effective July 12, 2022. He joined the Company in 2018 and continues to serve as Head of the Southeast and Northeast Regions, overseeing acquisitions, asset management, and regional profit and loss. Mr. Wislar has over nine years of experience in the commercial lending and commercial real estate industries.

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The public company Gladstone Commercial (GOOD) faces several key risks to its business, primarily centered around its financial structure and profitability. The most significant risks include high financial leverage, challenges in sustaining profitability, and the potential for dividend cuts.

Financial Leverage and Debt: Gladstone Commercial carries a significant amount of financial leverage and a high debt-to-equity ratio, which poses a substantial risk to its financial stability. The company faces concerns regarding debt sustainability, increased interest costs, and potential refinancing risks. Interest payments have also been noted as not being well covered by earnings.
Inability to Sustain Profitability and Shrinking Profit Margins: Gladstone Commercial has demonstrated struggles with sustained profitability, and analysts forecast shrinking profit margins. This trend could challenge the long-term durability of returns and impact the company's overall financial health.
Potential for Dividend Cuts: Due to its mixed financial performance and a high payout ratio, there is a recognized risk of potential dividend cuts. For a real estate investment trust (REIT) like Gladstone Commercial, a reduction in dividends can be a significant concern for investors.

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The widespread and ongoing adoption of remote and hybrid work models poses a significant emerging threat. This fundamental shift in how companies utilize physical space for employees directly reduces the demand for traditional office properties, potentially leading to increased vacancy rates, downward pressure on rental income, and diminished asset values within Gladstone Commercial's office portfolio.

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Gladstone Commercial (GOOD) is a real estate investment trust (REIT) that primarily acquires, owns, and manages single-tenant net-leased industrial and office properties across the United States.
The total addressable market for commercial real estate in the U.S., encompassing various property types including industrial and office, was estimated at approximately $22.5 trillion in the fourth quarter of 2023. This figure represents the total asset value of the commercial real estate sector.
Within this broader market, Gladstone Commercial focuses on the industrial and office sectors. As of 2022, storage facilities and warehouses, which fall under industrial properties, accounted for 17% of the overall U.S. commercial real estate buildings. The industrial and logistics sectors are also noted for strong demand and growth.

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Gladstone Commercial (GOOD) is expected to drive future revenue growth over the next 2-3 years through several key strategies: * Acquisitions and Leasing Activity: The company's revenue growth is significantly influenced by its ongoing acquisition strategy, particularly in the industrial sector, and successful leasing activities. For instance, Core FFO growth in Q3 2025 was attributed to revenues from year-to-date acquisitions and leasing. In Q3 2025, Gladstone Commercial acquired a six-facility industrial portfolio and executed leasing activities on 734,000 square feet, generating an incremental $1.1 million in straight-line rental income. This trend of strategic acquisitions and effective leasing was also evident in Q4 2024. * Strategic Shift to Industrial Properties: Gladstone Commercial is actively focusing on expanding its industrial real estate portfolio while divesting from office properties. This strategic pivot is anticipated to boost revenue due to the higher returns and inherent stability of the industrial sector. By Q3 2025, the concentration of industrial properties within its portfolio increased to 69% of its annual straight-line rents. * Rent Increases and Same-Store Rent Growth: Organic growth from existing properties through rent increases is a consistent driver. The company has observed a 2% annual increase in same-store rents in recent years and anticipates this upward trend to persist. In Q3 2025, same-store lease revenue saw a 3.1% increase compared to the same period in 2024, primarily due to higher recovery revenue from property expenses and elevated rental rates resulting from leasing activities. * Expansion into New Geographic Markets: There is an identified opportunity for Gladstone Commercial to expand into new markets, such as the West Coast states like California, where its current portfolio exposure is limited. Such expansion, if executed with improved capital efficiencies, could diversify its portfolio and increase annualized base rent. * High Occupancy Rates and Long-Term Leases: While not a direct growth driver, the company's consistently high occupancy rates and long-weighted average lease terms provide a robust and predictable revenue foundation that supports other growth initiatives. In Q3 2025, the portfolio occupancy rate reached 99.1%, with a weighted average lease term of 7.5 years. Furthermore, over 52% of the portfolio's rents are not set to expire until after 2030, ensuring a stable income stream.

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Share Repurchases

On December 12, 2022, Gladstone Commercial's board authorized a share repurchase program for up to $20,000,000 each of its 6.625% Series E Cumulative Redeemable Preferred Stock and 6.00% Series G Cumulative Redeemable Preferred Stock. This authorization expired on December 6, 2023.

Share Issuance

During the third quarter of 2025, Gladstone Commercial issued 1,891,807 shares of common stock under its at-the-market (ATM) program for net proceeds of $23.0 million.
As of October 1, 2025, the company had sold approximately 6,271,144 shares, generating around $93.5 million, with $156.5 million in shares still available for sale under its current registration statement.
In 2024, the company was active in issuing common stock through its at-the-market program and Series F Preferred Stock via bimonthly closings of a registered non-traded continuous offering. A new $250.0 million ATM equity offering sales agreement for common stock was established in March 2023 and amended in March 2024.

Outbound Investments

In October 2025, Gladstone Commercial acquired an industrial portfolio totaling 693,236 square feet across six locations in Michigan, Indiana, and Georgia for $54.5 million, simultaneously leasing the facilities back to TI Automotive under a 20-year absolute net lease.
During the second quarter of 2025, the company acquired two industrial facilities for $73 million, contributing to $79 million in total industrial acquisitions for the quarter.
Gladstone Commercial's strategy involves focusing on acquiring high-quality industrial assets to increase its portfolio concentration to 70% and disposing of non-core office properties as part of its capital recycling program.

Capital Expenditures

Gladstone Commercial reported $0.00 million in Capital Expenditure for the three months ended June 2025.

Better Bets than Gladstone Commercial (GOOD)

	GOOD	Better Performance than GOOD
Metric	Value	INDUSTRY: Diversified REITs
Rev Chg LTM	5.0%	EPRT (24.2%), GNL (17.6%), LXP (7.0%), WPC (5.6%), BNL (5.5%)
Rev Chg 3Y Avg	1.8%	GNL (26.4%), EPRT (24.2%), WPC (5.6%), BNL (5.3%), LXP (3.7%)
Op Mgn LTM	35.3%	EPRT (63.6%), WPC (50.5%), BNL (49.1%), OLP (35.6%)
CFO/Rev LTM	61.3%	WPC (75.9%), EPRT (68.4%), BNL (62.2%)
FCF/Rev LTM	61.3%	WPC (75.9%), EPRT (68.4%)
Total Yield	6.5%	LXP (22.4%), BNL (9.2%), ALEX (8.0%), EPRT (7.9%), WPC (7.7%)
P/S	3.7	LXP (1.4), ESRT (1.7), GNL (2.4), AAT (2.8), CTO (3.6)
P/Op Inc	10.5	AHH (7.1), LXP (8.2), GNL (8.2), ESRT (9.1)

	GOOD	Better Performance than GOOD
Metric	Value	SECTOR: Real Estate
Rev Chg LTM	5.0%	WELL (32.6%), O (14.7%), PLD (10.7%), DLR (7.7%), EQIX (5.4%)
Rev Chg 3Y Avg	1.8%	O (21.5%), WELL (20.9%), PLD (18.1%), EQIX (8.5%), SPG (5.7%)
Op Mgn LTM	35.3%	SPG (50.7%), PSA (47.0%), AMT (46.4%), O (45.7%), PLD (39.8%)
CFO/Rev LTM	61.3%	WPC (75.9%), PSA (67.3%), O (67.1%), SPG (65.3%), VICI (62.0%)
FCF/Rev LTM	61.3%	OHI (76.2%), WPC (75.9%), O (67.1%), GLPI (63.2%), VICI (62.0%)
Total Yield	6.5%	VICI (13.2%), EQR (8.3%), EXR (7.8%), O (6.9%), AMT (6.7%)
P/S	3.7	JLL (0.6), CBRE (1.2), HST (2.0), WY (2.5), BXP (3.4)
P/Op Inc	10.5	MPW (6.1), CWK (8.0), HHH (9.4), VICI (9.5), RYN (9.6)

	GOOD	Better Performance than GOOD
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	5.0%	NVDA (65.2%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	1.8%	NVDA (91.6%), META (17.3%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%)
Op Mgn LTM	35.3%	NVDA (58.8%), MSFT (46.3%), META (43.2%), LLY (43.0%), AVGO (39.0%)
CFO/Rev LTM	61.3%	ARES (85.1%), FNV (84.7%), RY (83.0%), BAM (75.6%), CME (65.0%)
FCF/Rev LTM	61.3%	ARES (83.9%), RY (79.6%), BAM (75.6%), FMCC (66.7%), CME (63.8%)
Total Yield	6.5%	XOM (9.8%), JNJ (8.4%), BAC (7.7%), HD (6.7%), JPM (6.7%)
P/S	3.7	WMT (1.2), XOM (1.5), BRK-B (2.7), AMZN (3.5), BAC (3.6)
P/Op Inc	10.5	VZ (5.9), T (8.3), BN (8.4), MRK (9.4), PFE (9.4)

		Best Bets In Real Estate Sector
	GOOD	CTRE	WPC	NNN	ADC	OHI	O	EPRT	GLPI	EPR	FCPT
What You Pay
P/E	27.4	28.1	40.8	20.4	40.8	23.2	57.7	24.5	17.0	22.1	23.2
P/EBIT	9.6	24.4	21.5	13.6	24.4	15.8	25.9	17.2	11.2	13.4	15.8
What You Get
Rev Chg Q	4.1%	82.4%	8.5%	5.3%	18.7%	12.9%	9.1%	23.7%	3.2%	4.3%	11.0%
Rev Chg LTM	5.0%	47.6%	5.6%	4.5%	14.7%	13.7%	14.7%	24.2%	4.4%	4.2%	8.3%
Rev Chg 3Y Avg	1.8%	21.2%	5.6%	6.0%	19.5%	6.3%	21.5%	24.2%	7.4%	3.9%	9.5%
FCF/Rev 3Y Avg	44.4%	88.9%	84.4%	73.6%	73.1%	71.6%	69.5%	69.3%	65.4%	63.9%	61.3%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Gladstone Commercial Earnings Notes
2	How Low Can Gladstone Commercial Stock Really Go?	Return
3	Gladstone Commercial Total Shareholder Return (TSR): 46.9% in 2024 and 6.9% 3-yr compounded annual returns (above peer average)

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to GOOD. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-3.6%	-3.6%	-5.8%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
MPW_10312025_Short_Squeeze	10312025	MPW	Medical Properties Trust	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-3.6%	-3.6%	-5.8%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.8	282.6%	459.2%
WVE	WAVE Life Sciences	2.7	128.5%	32.1%
ALMS	Alumis	0.8	89.8%	34.6%
NUVB	Nuvation Bio	2.9	82.4%	220.3%
SEMR	SEMrush	1.8	75.7%	-0.2%
TE	T1 Energy	0.8	70.4%
ANF	Abercrombie & Fitch	5.6	68.4%	-21.6%
CBLL	CeriBell	0.8	67.5%	-16.6%
FTRE	Fortrea	1.5	65.4%	-13.2%
VERA	Vera Therapeutics	3.1	64.7%	14.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.3%	-85.2%
RZLT	Rezolute	0.2	-80.3%	-59.0%
JANX	Janux Therapeutics	0.9	-50.9%	-73.7%
FRMI	Fermi	6.3	-50.6%
AGIO	Agios Pharmaceuticals	1.5	-43.6%	-22.6%
IMSR	Terrestrial Energy	0.7	-38.9%
LENZ	LENZ Therapeutics	0.5	-36.3%	-43.3%
LWLG	Lightwave Logic	0.4	-36.3%	41.4%
UAMY	United States Antimony	0.5	-33.7%	156.5%
BETR	Better Home & Finance	0.5	-33.6%	292.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
UDMY	Udemy	0.9	12.7%	-26.5%
TWO	Two Harbors Investment	1.2	12.1%	8.5%
IOVA	Iovance Biotherapeutics	0.9	12.0%	-65.9%
KOD	Kodiak Sciences	1.4	11.8%	171.1%
RXRX	Recursion Pharmaceuticals	2.1	11.4%	-30.8%
TTC	Toro	7.9	10.7%	2.0%
HUT	Hut 8	4.2	9.0%	96.0%
TPL	Texas Pacific Land	20.3	7.6%	-19.7%
AXGN	Axogen	1.5	7.0%	90.5%
SSII	SS Innovations International	1.1	6.7%	-25.6%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NOW	ServiceNow	32.5	-80.0%	-85.2%
FDMT	4D Molecular Therapeutics	0.5	-20.1%	65.4%
IMNM	Immunome	1.7	-15.8%	86.3%
HNRG	Hallador Energy	0.7	-15.2%	51.2%
AMPX	Amprius Technologies	1.1	-14.6%	213.6%
BNTC	Benitec Biopharma	0.4	-13.1%	-14.6%
FLNC	Fluence Energy	2.4	-12.9%	16.9%
IMSR	Terrestrial Energy	0.7	-12.6%
BE	Bloom Energy	18.1	-12.1%	246.6%
BW	Babcock & Wilcox Enterprises	0.5	-12.1%	182.9%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TLRY	Tilray Brands	13.7	55.9%	-3.2%
PL	Planet Labs PBC	5.0	27.3%	307.7%
EEX	Emerald	0.9	25.9%	-2.8%
EVCM	EverCommerce	2.2	17.2%	10.4%
CNL	Collective Mining	1.1	15.8%	229.3%
ENVA	Enova International	4.1	15.8%	70.8%
IMVT	Immunovant	4.6	14.5%	8.9%
QURE	uniQure	1.3	14.3%	30.4%
INNV	InnovAge	0.8	14.2%	49.6%
PGEN	Precigen	1.2	13.4%	255.4%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-81.7%	-85.2%
RZLT	Rezolute	0.2	-81.6%	-59.0%
FRMI	Fermi	6.3	-41.1%
LENZ	LENZ Therapeutics	0.5	-34.6%	-43.3%
BETR	Better Home & Finance	0.5	-30.9%	292.0%
LWLG	Lightwave Logic	0.4	-29.5%	41.4%
APLD	Applied Digital	5.6	-29.0%	188.0%
CRWV	CoreWeave	31.4	-26.8%
WULF	TeraWulf	4.5	-26.6%	104.4%
BW	Babcock & Wilcox Enterprises	0.5	-26.5%	182.9%

Peer Comparisons for Gladstone Commercial

Peers to compare with:

Financials

	GOOD	STAG	WPC	O	NNN	LXP	Median
Name	Gladston.	Stag Ind.	W.P. Car.	Realty I.	NNN REIT	LXP Indu.
Mkt Price	11.03	37.49	65.15	57.76	40.68	50.04	45.36
Mkt Cap	0.5	7.0	14.4	52.8	7.6	2.9	7.3
Rev LTM	155	824	1,678	5,612	906	364	865
Op Inc LTM	55	308	848	2,564	557	64	433
FCF LTM	95	404	1,274	3,763	659	191	531
FCF 3Y Avg	67	393	1,395	3,318	634	182	513
CFO LTM	95	464	1,274	3,763	659	216	561
CFO 3Y Avg	67	433	1,395	3,318	634	203	534

Growth & Margins

	GOOD	STAG	WPC	O	NNN	LXP	Median
Name	Gladston.	Stag Ind.	W.P. Car.	Realty I.	NNN REIT	LXP Indu.
Rev Chg LTM	5.0%	9.6%	5.6%	14.7%	4.5%	7.0%	6.3%
Rev Chg 3Y Avg	1.8%	9.1%	5.6%	21.5%	6.0%	3.7%	5.8%
Rev Chg Q	4.1%	10.7%	8.5%	9.1%	5.3%	1.6%	6.9%
QoQ Delta Rev Chg LTM	1.0%	2.5%	2.1%	2.1%	1.3%	0.4%	1.7%
Op Mgn LTM	35.3%	37.4%	50.5%	45.7%	61.5%	17.6%	41.5%
Op Mgn 3Y Avg	34.2%	35.3%	48.0%	42.6%	62.0%	17.0%	38.9%
QoQ Delta Op Mgn LTM	-0.8%	0.6%	1.0%	1.1%	-0.1%	0.5%	0.5%
CFO/Rev LTM	61.3%	56.3%	75.9%	67.1%	72.7%	59.3%	64.2%
CFO/Rev 3Y Avg	44.4%	57.3%	84.4%	69.5%	73.6%	58.2%	63.8%
FCF/Rev LTM	61.3%	49.1%	75.9%	67.1%	72.7%	52.5%	64.2%
FCF/Rev 3Y Avg	44.4%	52.1%	84.4%	69.5%	73.6%	52.4%	60.9%

Valuation

	GOOD	STAG	WPC	O	NNN	LXP	Median
Name	Gladston.	Stag Ind.	W.P. Car.	Realty I.	NNN REIT	LXP Indu.
Mkt Cap	0.5	7.0	14.4	52.8	7.6	2.9	7.3
P/S	3.7	8.0	8.9	9.9	8.8	1.4	8.4
P/EBIT	9.6	17.5	21.5	25.9	13.6	2.8	15.6
P/E	27.4	27.3	40.8	57.7	20.4	4.5	27.4
P/CFO	6.1	14.2	11.7	14.8	12.1	2.4	11.9
Total Yield	6.5%	6.9%	7.7%	6.9%	10.4%	22.4%	7.3%
Dividend Yield	2.8%	3.2%	5.2%	5.2%	5.5%	0.0%	4.2%
FCF Yield 3Y Avg	11.9%	5.9%	10.4%	6.9%	8.3%	33.7%	9.3%
D/E	1.5	0.5	0.6	0.5	0.6	2.7	0.6
Net D/E	1.4	0.5	0.6	0.5	0.6	2.2	0.6

Returns

	GOOD	STAG	WPC	O	NNN	LXP	Median
Name	Gladston.	Stag Ind.	W.P. Car.	Realty I.	NNN REIT	LXP Indu.
1M Rtn	0.0%	-2.3%	-2.8%	1.8%	-0.9%	9.1%	-0.4%
3M Rtn	-12.6%	7.0%	-2.8%	-1.9%	-3.0%	11.3%	-2.4%
6M Rtn	-20.3%	5.3%	5.2%	3.2%	-1.9%	18.8%	4.2%
12M Rtn	-27.8%	10.5%	22.6%	12.1%	2.9%	21.4%	11.3%
3Y Rtn	-24.6%	30.6%	-0.7%	7.2%	5.7%	15.0%	6.5%
1M Excs Rtn	-0.7%	-3.1%	-3.5%	1.1%	-1.6%	8.4%	-1.2%
3M Excs Rtn	-14.5%	5.3%	-3.5%	-2.3%	-3.7%	7.8%	-2.9%
6M Excs Rtn	-32.7%	-7.0%	-7.2%	-9.2%	-14.3%	6.4%	-8.2%
12M Excs Rtn	-39.7%	-2.3%	10.1%	-0.6%	-9.8%	6.9%	-1.5%
3Y Excs Rtn	-94.5%	-41.3%	-68.7%	-63.2%	-65.4%	-56.5%	-64.3%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/3/2025	2/18/2025	2/21/2024	2/22/2023	2/15/2022	2/16/2021	2/12/2020
Key Financials
Total Revenue	155	149	148	149	138	133	114
Net Income	21	24	5	11	11	15	10
EPS	0.19	0.27	-0.19	-0.04	-0.09	0.09	-0.16
Growth Rates
Total Revenue Growth	5.0%	1.2%	-0.9%	8.2%	3.4%	16.4%	7.1%
Net Income Growth	-1.2%	381.4%	-53.9%	-1.2%	-26.8%	55.2%	-21.9%
Margins
Net Income Margin	13.6%	16.1%	3.4%	7.3%	7.9%	11.2%	8.4%
Cash & Debt
Total Cash	18	11	12	12	8	11	7
Total Debt	850	697	744	755	713	674	632
Net Debt / (Cash)	832	686	732	743	705	663	626
Cash Flows
Net Cash from Operations	95	57	60	69	70	65	60
Free Cash from Operations	95	57	60	69	70	65	60
Returns to Shareholders
Dividends	67	63	61	71	68	64	59
Share Repurchases	4	2	2	0	88	-0	57

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/3/2025	8/6/2025	5/7/2025	2/18/2025	11/4/2024	8/6/2024	5/6/2024	2/21/2024	11/6/2023	8/8/2023	5/3/2023	2/22/2023
Key Financials Quarterly
Total Revenue	41	40	38	37	39	37	36	36	36	39	37	37
Net Income	4	5	5	7	12	2	4	5	2	-5	3	3
EPS	0.02	0.03	0.04	0.10	0.20	-0.04	0.01	0.04	-0.04	-0.19	0.00	0.00
Key Financials TTM
Total Revenue TTM	155	154	151	149	148	145	147	148	149	152	150	149
Net Income TTM	21	29	26	24	21	11	5	5	3	4	11	11
Growth Rates Quarterly
Total Revenue Growth	4.1%	6.7%	5.0%	4.1%	7.6%	-4.1%	-2.3%	-3.5%	-8.5%	6.2%	2.9%	5.4%
Net Income Growth	-64.6%	187.6%	45.7%	58.5%	552.7%	135.7%	11.0%	54.3%	-35.9%	-376.3%	-6.3%	-30.6%
Margins Quarterly
Net Income Margin	10.1%	11.7%	13.7%	19.2%	29.8%	4.3%	9.9%	12.6%	4.9%	-11.7%	8.7%	7.9%
Cash & Debt
Total Cash	18	12	10	11	11	10	10	12	18	16	14	12
Total Debt	850	801	748	697	697	727	724	744	754	759	753	755
Net Debt / (Cash)	832	790	737	686	686	716	713	732	736	742	739	743
Cash Flows Quarterly
FCF from Operations	19	36	18	23	6	14	15	12	18	16	15	12
Cash Flows TTM
FCF from Operations TTM	95	82	60	57	46	58	60	60	61	65	67	69
Returns to Shareholders Quarterly
Dividends	17	17	16	16	16	15	15	15	15	15	15	18
Share Repurchases	2	2	1	0	1	0	0	0	0	1	0	0
Return on Invested Capital (ROIC) Quarterly
ROIC	3.4%	3.4%	3.5%	3.6%	4.0%	2.9%	3.3%	3.7%	3.7%	3.2%	3.2%	3.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	3.3%	3.4%	3.4%	3.5%	3.5%	3.4%	3.5%	3.5%	3.3%	3.3%	3.2%	3.0%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Real Estate Rental Operations	148
Acquired & Disposed Properties		26	12	10	8
Properties with Vacancy		14	17	20	14
Same Store Properties		109	109	103	93
Total	148	149	138	133	114

Price Behavior

Price Behavior

Market Price	$11.03
Market Cap ($ Bil)	0.5
First Trading Date	08/14/2003
Distance from 52W High	-27.8%
	50 Days	200 Days
DMA Price	$11.03	$12.70
DMA Trend	down	down
Distance from DMA	0.0%	-13.2%
	3M	1YR
Volatility	22.7%	21.0%
Downside Capture	111.54	70.52
Upside Capture	32.77	30.05
Correlation (SPY)	35.4%	47.8%

GOOD Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.08	0.70	0.72	0.75	0.51	0.65
Up Beta	-0.38	0.45	0.82	0.99	0.47	0.51
Down Beta	0.53	0.28	0.38	0.49	0.56	0.75
Up Capture	140%	47%	19%	27%	17%	25%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	18	25	55	114	369
Down Capture	158%	126%	134%	126%	81%	94%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	23	37	69	131	368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of GOOD With Other Asset Classes (Last 1Y)
	GOOD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-28.9%	-2.8%	12.1%	61.5%	2.2%	-2.2%	-12.7%
Annualized Volatility	20.9%	17.4%	19.7%	19.3%	15.9%	17.7%	35.4%
Sharpe Ratio	-1.72	-0.32	0.46	2.36	-0.05	-0.28	-0.17
Correlation With Other Assets		69.2%	47.3%	16.6%	20.0%	71.8%	16.2%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of GOOD With Other Asset Classes (Last 5Y)
	GOOD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-1.9%	5.6%	14.4%	18.3%	11.4%	4.8%	36.3%
Annualized Volatility	24.6%	19.1%	17.1%	15.5%	18.9%	18.9%	48.9%
Sharpe Ratio	-0.09	0.21	0.68	0.95	0.49	0.17	0.63
Correlation With Other Assets		65.9%	48.9%	14.3%	13.3%	69.1%	15.2%

Based On 10-Year Data

		Comparison of GOOD With Other Asset Classes (Last 10Y)
	GOOD	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	5.7%	6.4%	14.5%	14.6%	6.1%	5.4%	70.7%
Annualized Volatility	32.3%	20.6%	18.0%	14.7%	17.7%	20.8%	55.9%
Sharpe Ratio	0.26	0.28	0.69	0.82	0.27	0.23	0.91
Correlation With Other Assets		62.8%	50.8%	9.0%	21.0%	69.2%	13.0%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	2,600,534
Short Interest: % Change Since 11152025	-4.2%
Average Daily Volume	444,043
Days-to-Cover Short Interest	5.86
Basic Shares Quantity	46,877,686
Short % of Basic Shares	5.5%

Returns Analyses

	Title
0	How Low Can Gladstone Commercial Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/3/2025	-6.1%	-3.7%	-3.7%
8/6/2025	-0.2%	2.5%	2.0%
5/7/2025	-0.4%	1.8%	5.3%
2/18/2025	0.8%	1.4%	-5.9%
11/4/2024	6.4%	7.7%	9.6%
8/6/2024	1.3%	1.7%	6.6%
5/6/2024	5.9%	7.1%	7.4%
2/21/2024	0.1%	-3.0%	9.5%
...
SUMMARY STATS
# Positive	12	11	16
# Negative	12	13	8
Median Positive	1.5%	2.5%	7.0%
Median Negative	-1.5%	-3.2%	-5.7%
Max Positive	11.7%	8.1%	11.3%
Max Negative	-6.1%	-14.6%	-30.2%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11032025	10-Q 9/30/2025
6302025	8062025	10-Q 6/30/2025
3312025	5072025	10-Q 3/31/2025
12312024	2182025	10-K 12/31/2024
9302024	11042024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5062024	10-Q 3/31/2024
12312023	2212024	10-K 12/31/2023
9302023	11062023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5032023	10-Q 3/31/2023
12312022	2222023	10-K 12/31/2022
9302022	11072022	10-Q 9/30/2022
6302022	8012022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	2152022	10-K 12/31/2021

External Quote Links

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2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Gladstone Commercial (GOOD)

Market Price (12/18/2025): $11.015 | Market Cap: $516.4 MilSector: Real Estate | Industry: Diversified REITs

Gladstone Commercial (GOOD)

Market Price (12/18/2025): $11.015Market Cap: $516.4 MilSector: Real EstateIndustry: Diversified REITs

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Market Price (12/18/2025): $11.015 | Market Cap: $516.4 Mil
Sector: Real Estate | Industry: Diversified REITs

Market Price (12/18/2025): $11.015
Market Cap: $516.4 Mil
Sector: Real Estate
Industry: Diversified REITs