GLADSTONE COMMERCIAL CORP GOOD
Gladstone Commercial Corporation (which we refer to as "we," "us," or the "Company") was incorporated under the General Corporation Law of the State of Maryland on February 14, 2003. We have elected to be taxed as a REIT for federal income tax purposes. We focus on acquiring, owning, and managing primarily industrial and office properties. Our shares of common stock, par value $0.001 per share, 6.625% Series E Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series E Preferred Stock"), and 6.00% Series G Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series G Preferred Stock"), trade on the Nasdaq Global Select Market ("Nasdaq") under the trading symbols "GOOD," "GOODN" and "GOODO," respectively. Our senior common stock, par value $0.001 per share ("Senior Common Stock") and our 6.00% Series F Cumulative Redeemable Preferred Stock, par value $0.001 per share ("Series F Preferred Stock"), are not listed or traded on any exchange or automated quotation system.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $161.3M | $149.4M | $147.6M | $149.0M | $137.7M | $133.2M | $114.4M | $106.8M | $94.8M | $86.4M |
| SG&A | $4.0M | $3.9M | $4.4M | $3.7M | $3.2M | $3.3M | $3.2M | $2.4M | $2.4M | $2.4M |
| Total operating expenses | $101.4M | $102.8M | $116.1M | $116.2M | $101.6M | $99.9M | $80.2M | $71.1M | $68.3M | $55.6M |
| Interest expense | $41.9M | $37.4M | $37.3M | $32.5M | $26.9M | $26.8M | $28.3M | $26.2M | $24.6M | $25.9M |
| Net income | $19.3M | $24.0M | $5.0M | $10.8M | $10.9M | $14.9M | $9.6M | $12.3M | $5.9M | $4.0M |
| EPS, basic | 0.14 | 0.27 | -0.19 | -0.04 | -0.09 | 0.09 | -0.16 | 0.03 | -0.19 | -0.16 |
| EPS, diluted | 0.14 | 0.27 | -0.19 | -0.04 | -0.09 | 0.09 | -0.16 | 0.03 | -0.19 | -0.16 |
| Shares, diluted (wtd. avg.) | $46.5M | $41.8M | $39.9M | $39.0M | $36.5M | $34.0M | $30.7M | $28.7M | $26.4M | $23.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $10.8M | $11.0M | $12.0M | $16.0M | $13.2M | $16.1M | $11.5M | $9.1M | $9.1M | $7.7M |
| Other intangibles | $115.6M | $95.1M | $101.0M | $111.6M | $114.5M | $117.4M | $115.5M | $111.4M | $118.9M | $105.6M |
| Total assets | $1.25B | $1.09B | $1.13B | $1.20B | $1.14B | $1.10B | $1.04B | $938.8M | $928.5M | $851.7M |
| Long-term debt | $843.5M | $693.4M | $738.9M | $749.2M | $707.5M | $669.3M | $626.6M | $566.1M | $542.6M | $509.4M |
| Total liabilities | $905.0M | $753.0M | $809.2M | $826.9M | $770.5M | $722.6M | $676.3M | $598.8M | $578.2M | $541.1M |
| Total equity | $171.8M | $171.2M | $154.3M | $205.7M | $202.2M | $214.5M | $211.0M | $254.4M | $266.8M | $239.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $88.2M | $57.0M | $60.4M | $69.2M | $70.1M | $65.5M | $60.2M | $55.6M | $46.8M | $41.2M |
| Investing cash flow | -$221.4M | -$1.7M | $1.1M | -$82.5M | -$94.8M | -$100.3M | -$132.0M | -$34.4M | -$99.9M | -$59.8M |
| Financing cash flow | $134.7M | -$56.3M | -$61.4M | $16.1M | $21.8M | $39.4M | $74.2M | -$21.2M | $54.4M | $17.0M |
| Dividends paid | $68.2M | $62.8M | $60.6M | $71.1M | $67.6M | $63.8M | $58.9M | $54.6M | $50.4M | $42.5M |
| Buybacks | $0 | $0 | $998.0K | $0 | — | $0 | $0 | $34.0K | $24.0K | $178.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001234006-26-000005.
Others in SIC 6519
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| STHO | Star Holdings | $120.0M | — | -2.8% |