Welcome to our dedicated page for Gladstone Commercial news (Ticker: GOOD), a resource for investors and traders seeking the latest updates and insights on Gladstone Commercial stock.
Gladstone Commercial Corporation (NASDAQ: GOOD) is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. The news flow around GOOD reflects its activities as an income-oriented REIT with an emphasis on industrial assets, capital markets transactions, and recurring distributions.
On this page, readers can review company announcements such as monthly cash distribution declarations for common stock, senior common stock, and preferred stock series, including the 6.625% Series E Preferred (GOODN), 6.00% Series F Preferred, and 6.00% Series G Preferred (GOODO). These releases often detail record dates, payment dates, and per-share amounts, as well as references to the company’s dividend reinvestment plan for certain shareholders.
News coverage also includes earnings releases and conference call information. Gladstone Commercial regularly reports quarterly results, highlighting metrics such as funds from operations (FFO), Core FFO, rent collection, leasing activity, acquisitions, and dispositions. The company typically announces the timing of its earnings releases and provides dial-in and webcast details for investors who wish to follow management’s commentary.
Another important category of news involves capital markets and financing updates. Recent items include the amendment, extension, and upsizing of the company’s syndicated revolving credit and term loan facility, as well as the issuance of 5.99% Senior Guaranteed Notes due 2030 in a private placement. These announcements describe changes in borrowing capacity, maturities, and intended use of proceeds, such as repaying existing debt and supporting general corporate purposes.
Property-level developments and portfolio strategy are also reflected in GOOD news. Examples include the acquisition of a 693,236 square foot industrial portfolio across multiple states under a long-term absolute net lease, and lease extensions at individual industrial properties. Together, these updates provide insight into Gladstone Commercial’s ongoing portfolio management, industrial focus, and distribution practices. Investors interested in GOOD can use this news page to monitor recurring distributions, financial performance updates, and key transactions affecting the REIT’s capital structure and property base.
Gladstone Commercial Corporation (Nasdaq: GOOD) reported a robust portfolio performance amid COVID-19, with approximately 99% of September cash base rent collected, consistent with the previous months. The company has maintained a dividend rate despite market challenges, with portfolio occupancy over 95%. Notable activities include acquiring a $10.6 million distribution facility in Indiana, leased to Clabber Girl, and a lease extension with Haier US Appliance Solutions. Available liquidity exceeds $35 million, bolstered by successful capital raising through stock issuance.
Gladstone Commercial (Nasdaq: GOOD) announced a five-year lease agreement with Pipeline Foods LLC for 8,032 square feet at its Fridley, Minnesota property. Construction of the space is set to commence immediately, with an expected occupancy in early November 2020. This lease follows recent property repositioning efforts and demonstrates strong leasing activity, highlighting Gladstone's effective asset management and marketing strategies. The company’s portfolio includes 122 properties across 28 states, totaling approximately 15.1 million square feet.
Gladstone Commercial Corporation (Nasdaq: GOOD) announced the acquisition of a 153,600 square foot distribution building in Terre Haute, Indiana, for $10.6 million on September 1, 2020. The initial capitalization rate for this acquisition was 7.3%, with an average of 8.0%. The property is fully leased to Clabber Girl Corporation, backed by its parent company, B&G Foods (NYSE: BGS). This acquisition aligns with Gladstone's strategy to enhance its portfolio with high-quality industrial assets in targeted growth markets. This marks Gladstone's fifth property acquisition in Central Indiana.
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.
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.
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.
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.
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.
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.
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.