Welcome to our dedicated page for Gladstone Coml SEC filings (Ticker: goodo), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
gladstone commercial corporation is a publicly traded reit (nasdaq: good) that invests in single tenant and anchored multi-tenant net leased industrial, office and, to a lesser extent, medical properties nationwide. we also invest alongside developers in build-to-suit transactions where a tenant requires a new building. we buy properties with strong tenants of all sizes and we believe our track record of underwriting the credit of middle market businesses is unmatched. we target primary and secondary growth markets that possess favorable economic growth trends, diversified industries, growing populations, and strong employment. our senior management team, under the guidance of david gladstone, has over 200 years of combined experience investing in real estate and middle market businesses. we have a track record of success, as exhibited by a history of strong distribution yields, consistent occupancy greater than 96.0%, and 10+ years of paying continuous monthly cash distributions. we aGladstone Commercial Corporation has called its 2026 Annual Meeting for May 7, 2026 at 11:00 a.m. EDT as a virtual-only webcast. Holders of its common stock at the close of business on March 13, 2026, when 48,406,993 shares were outstanding, may vote.
Stockholders will vote on electing two directors, Michela A. English and Anthony W. Parker, to the Board class expiring in 2029, and on ratifying PwC as independent registered public accounting firm for the year ending December 31, 2026. PwC billed $981,300 in audit fees and $190,000 in audit-related fees for 2025.
The Board reports a majority of directors as independent and details its audit, compensation, ethics, executive, offering and valuation committees. As an externally managed REIT, executives are paid by the adviser and administrator; in 2025 the company paid about $7.9 million in advisory fees and $2.6 million in administration fees.
The proxy also discloses director cash retainers, stock ownership of insiders, and major holders, including The Vanguard Group with 4,011,113 shares (8.29%) and BlackRock, Inc. with 3,270,282 shares (6.76%).
Gladstone Commercial Corp’s Chief Financial Officer Gary Gerson reported an open-market purchase of common stock. On February 25, 2026, he bought 275 shares at $12.465 per share, bringing his direct holdings to 23,475 shares. The filing also lists 100 shares held by his son, 100 by his daughter, and 752 by his spouse, with Gerson expressly disclaiming beneficial ownership of these indirect family holdings.
Gladstone Commercial reported solid Q4 and mixed full-year 2025 results. For the quarter ended December 31, 2025, total operating revenue was $43.5 million, up 6.4% from Q3, with net income of $5.4 million, up 30.1%. Funds from operations (FFO) available to common stockholders and OP unitholders were $17.8 million, up 8.9%, or $0.37 per diluted share, and Core FFO matched that per-share level.
For 2025, total operating revenue rose 8.0% to $161.3 million. FFO increased 8.8% to $64.9 million, or $1.38 per diluted share, and Core FFO grew 9.1% to $65.7 million, or $1.40 per diluted share. Net income available to common stockholders and OP unitholders declined to $6.6 million from $11.2 million, reflecting higher other expense and smaller real estate gains. The company expanded its portfolio to 151 properties and 17.7 million square feet, maintained 99.1% leased occupancy, collected 100% of 2025 base rent, invested $206.7 million in 19 fully occupied industrial assets, and paid $1.20 in annual common dividends per share.
Gladstone Commercial Corporation, a Maryland REIT focused on industrial and office properties, outlines its 2025 business and capital structure. As of February 18, 2026, it owned 151 properties with 17.7 million square feet of rentable space across 27 states and a 99.1% occupancy rate.
The company uses an umbrella partnership structure and external management, targeting long-term net leases of seven to 20 years with built-in rent escalations. As of December 31, 2025, mortgage notes payable totaled $250.2 million, and borrowings under its credit facility were $437.4 million at a weighted average interest rate of 5.42%.
During 2025, Gladstone raised approximately $61.0 million of net proceeds by selling 4,412,814 common shares through its at-the-market equity program and issued $85.0 million of 5.99% senior unsecured notes due 2030. Key risks discussed include tenant credit quality, industry and tenant concentration, leverage, refinancing and balloon payment risk, interest rate exposure, and environmental and cybersecurity liabilities.
Gladstone Commercial Corporation filed a supplement to its prospectus supplement to reflect Amendment No. 2 to the Sales Agreement, which adds Huntington Securities, Inc. as a Sales Agent and removes Robert W. Baird & Co. Incorporated. After the amendment, the Sales Agents are BofA Securities, Goldman Sachs & Co. LLC, Huntington Capital Markets, KeyBanc Capital Markets and Fifth Third Securities. The registration remains for up to $250,000,000 of common stock; approximately 6,271,144 shares have been sold for gross proceeds of about $93.5 million, leaving roughly $156.5 million available. The company’s common stock trades on Nasdaq under GOOD, last reported at $13.05. The supplement also discloses that affiliates of several Sales Agents are lenders under the company’s credit facilities and may receive more than 5% of net proceeds if those proceeds are used to repay borrowings.
Gladstone Commercial Corporation amended its at-the-market equity offering sales agreement to remove Robert W. Baird & Co. Incorporated as a sales agent and to add Huntington Securities, Inc. as a new sales agent. The company confirmed that shares will continue to be offered and sold under the effective Registration Statement and related prospectus materials through the remaining sales agents.
To date the company has sold approximately 6,271,144 shares for gross proceeds of about $93.5 million, and the prospectus supplement shows roughly $156.5 million still available to be offered. The amendment is procedural in nature and maintains the existing at-the-market offering framework.