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Gladstone Commercial Corporation - REIT - GOOD STOCK NEWS

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Gladstone Commercial Corporation (NASDAQ: GOOD) is a publicly traded real estate investment trust (REIT) focusing on single-tenant and anchored multi-tenant net leased industrial, office, and, to a lesser extent, medical properties across the United States. Known for its strategic investments, Gladstone Commercial also collaborates with developers on build-to-suit projects where tenants require new buildings. The company's robust portfolio includes properties with strong tenants of varying sizes, emphasizing a track record of superior credit underwriting of middle-market businesses.

Under the guidance of David Gladstone, the senior management team brings over 200 years of combined experience in real estate and middle-market business investments. Gladstone Commercial targets high-growth primary and secondary markets with favorable economic trends, diversified industries, growing populations, and strong employment rates. The company's strategic approach has resulted in consistent occupancy rates above 96%, signifying a stable and reliable income stream for investors.

Recent achievements include the successful management and occupancy of 135 properties in 27 states, totaling approximately 17.2 million square feet as of the latest reports. The company has also maintained a remarkable history of paying continuous monthly cash distributions for over a decade, reinforcing its reputation for financial stability and investor trust.

As part of its financial strategies, Gladstone Commercial offers a dividend reinvestment plan (DRIP) to its common and Series F preferred stockholders, providing a flexible investment option for shareholders. The company publicly reports its quarterly earnings, the latest being scheduled for discussion on an earnings call on May 7, 2024, following the first quarter results for the fiscal year 2024.

The company's focus on industrial and office properties ensures a diversified and resilient investment portfolio. Despite global economic uncertainties, Gladstone Commercial remains confident in the depth of its tenant credit underwriting and operational strategies. For more detailed financial performance and investor relations information, please visit their official website at www.gladstonecommercial.com.

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Gladstone Commercial Corporation (Nasdaq: GOOD) reported a strong portfolio performance amidst COVID-19 market volatility. As of August 19, 2020, approximately 99% of cash base rents for August were collected, consistent with July's levels. The company achieved a Core FFO of $14.2 million for Q2 2020, equating to $0.41 per share, reflecting a 3.3% increase from Q1. Portfolio occupancy remains stable at 97%. Gladstone also noted successful lease extensions and completed 10 renewals increasing GAAP rents by 8.0%. The company maintains robust liquidity exceeding $35 million.

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Gladstone Commercial Corporation (Nasdaq: GOOD) announced five-year lease extensions with two tenants in the Northeast. John Bean Technologies Corporation renewed its lease for a 67,200 square foot flex building in Philadelphia through February 2026, while Continental Broadband Pennsylvania, LLC extended its lease for a 26,080 square foot data center in Pittsburgh until December 2031. These extensions indicate tenant commitment and enhance Gladstone's portfolio by increasing the weighted average lease term.

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Gladstone Commercial Corporation (Nasdaq: GOOD) reported its second-quarter results for 2020, revealing total operating revenue of $33.5 million, dipping slightly by 0.3% from Q1. Operating expenses rose by 7.3% to $25.9 million. The company experienced a net income drop of 57.3%, resulting in a loss of $1.9 million attributable to common stockholders. Despite challenges, Core Funds From Operations increased by 3.3% to $14.2 million. Gladstone successfully collected 98% of second-quarter rents and 99% in July, while renewing leases and selling non-core assets to strengthen its portfolio.

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Gladstone Commercial Corporation (Nasdaq: GOOD) will hold its Second Quarter Earnings Call on July 28, 2020, at 8:30 a.m. EDT. Investors can join via webcast or by phone at (833) 519-1257 using conference number 5688933. A replay will be accessible until August 4, 2020. The call can also be archived on the company's website until September 28, 2020. Gladstone focuses on acquiring and operating net leased industrial and office properties across the United States.

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Gladstone Commercial Corporation (Nasdaq: GOOD) reported strong performance amid COVID-19, with approximately 99% of July cash base rent paid, maintaining a consistent 98% collection rate since April. The company retained its dividend rate and reported a 97% portfolio occupancy. A six-year lease extension with Conduent State Healthcare increased GAAP rents by 24% and enhanced overall rental income by 14%. Since January, Gladstone has raised $31 million in capital, maintaining liquidity over $35 million.

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Gladstone Commercial Corporation (Nasdaq: GOOD) announced cash distributions for July, August, and September 2020. Common stockholders will receive $0.12515 per share, totaling $0.37545 for the quarter, maintaining 186 consecutive monthly payouts. Senior common stockholders will receive $0.0875 per share for a total of $0.2625. Series D, E, and F preferred stockholders will receive $0.1458333, $0.138021, and $0.125 per share, respectively. The company plans to report second-quarter earnings on July 27, 2020, with a conference call scheduled for July 28.

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Gladstone Commercial Corporation (Nasdaq: GOOD) announced a six-year lease extension with Conduent State Healthcare, LLC for its 42,213 square foot office in Richmond, VA, ensuring full occupancy through September 2026. This extension highlights the property’s significance to Conduent's operations, as the company has been a tenant since 2014. Senior Managing Director Buzz Cooper stated their commitment to tenant renewals and increasing cash flow, alongside a focus on industrial acquisitions.

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Gladstone Commercial Corporation (Nasdaq: GOOD) reported strong rent collection amid COVID-19, with 98% of cash base rent collected in June, matching April and May figures. The company maintains a 97% portfolio occupancy rate and has successfully amended a lease with Morgan Stanley, increasing GAAP rent by 51%. Gladstone raised $29.2 million in capital since January 2020 and boasts over $30 million in liquidity. However, there may be future rent relief requests, with uncertain outcomes regarding negotiations.

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Gladstone Commercial Corporation (Nasdaq: GOOD) has announced a lease amendment with Morgan Stanley to expand its office space by 16,000 square feet at 4343 Easton Commons, Columbus, OH. This expansion will allow Morgan Stanley to occupy the entire 103,000 square foot building until December 2025. The move aligns with Gladstone’s strategy of flexible growth for its anchor tenants, and it will result in increased cash and straight-line rents, contributing to the overall portfolio's lease term.

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Gladstone Commercial (Nasdaq: GOOD) provided a business update on May 20, 2020, emphasizing portfolio performance amidst COVID-19. Key highlights include a portfolio occupancy rate of approximately 97% and a cash base rent collection rate of around 98% for May, consistent with April. The company anticipates additional rent relief requests but cannot estimate the impact of negotiations. Core Funds From Operations for Q1 were $13.8 million, a 4.2% increase from the previous quarter. The firm maintained cash distributions at $0.12515 per share for April, May, and June, and has over $30 million in liquidity.

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FAQ

What is the current stock price of Gladstone Commercial Corporation - REIT (GOOD)?

The current stock price of Gladstone Commercial Corporation - REIT (GOOD) is $16.92 as of December 6, 2024.

What is the market cap of Gladstone Commercial Corporation - REIT (GOOD)?

The market cap of Gladstone Commercial Corporation - REIT (GOOD) is approximately 755.6M.

What is Gladstone Commercial Corporation?

Gladstone Commercial Corporation (NASDAQ: GOOD) is a publicly traded real estate investment trust (REIT) that focuses on acquiring, owning, and operating net leased industrial, office, and medical properties across the United States.

What types of properties does Gladstone Commercial invest in?

Gladstone Commercial invests in single-tenant and anchored multi-tenant net leased industrial, office, and medical properties. They also engage in build-to-suit projects with developers.

How long has Gladstone Commercial been paying monthly cash distributions?

Gladstone Commercial has been paying continuous monthly cash distributions for over 10 years, demonstrating its commitment to providing stable returns to its investors.

What is the occupancy rate of Gladstone Commercial's properties?

Gladstone Commercial maintains a high occupancy rate, consistently above 96%, signifying the reliability and stability of its rental income.

What markets does Gladstone Commercial target for its investments?

The company targets primary and secondary growth markets with favorable economic trends, diversified industries, growing populations, and strong employment rates.

Who manages Gladstone Commercial Corporation?

Gladstone Commercial is managed under the leadership of David Gladstone, with a senior management team that has over 200 years of combined experience in real estate and middle-market business investments.

Does Gladstone Commercial offer a dividend reinvestment plan?

Yes, Gladstone Commercial offers a dividend reinvestment plan (DRIP) to its common and Series F preferred stockholders, allowing them to reinvest their dividends.

When will Gladstone Commercial report its next quarterly earnings?

Gladstone Commercial plans to report its earnings for the first quarter ended March 31, 2024, after the stock market closes on May 6, 2024. A conference call to discuss the results will be held on May 7, 2024.

How can I get more information about Gladstone Commercial's financial performance?

For detailed financial performance and investor relations information, visit Gladstone Commercial's official website at www.gladstonecommercial.com.

What is the primary focus of Gladstone Commercial's investments?

Gladstone Commercial primarily focuses on investing in industrial properties and actively managing its portfolio to ensure stability and growth in its target markets.

Gladstone Commercial Corporation - REIT

Nasdaq:GOOD

GOOD Rankings

GOOD Stock Data

755.63M
43.33M
1.35%
46.06%
1.69%
REIT - Diversified
Lessors of Real Property, Nec
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United States of America
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