Gladstone Commercial Corporation GOOD
Gladstone Commercial Corporation functions as a real estate investment trust (REIT), primarily focused on acquiring, holding, and managing industrial and office properties under net leases across the United States. The company demonstrates a strong history of investor payouts, having delivered 189 continuous monthly cash dividends to its common stockholders up to September 2020. This followed an initial period where five consecutive quarterly cash distributions were made. Additionally, preferred stockholders have experienced uninterrupted payments: 53 consecutive monthly distributions for its Series D Preferred Stock, 12 for its Series E, and 3 for its Series F. Since its inception in 2003, Gladstone Commercial has consistently met its distribution commitments, never missing, decreasing, or delaying a payment.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-05-05) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $161.34M | $19.29M | $58.24M | $119.44M | $88.15M |
| 2024 | $149.39M | $24.00M | $55.79M | $117.23M | $56.95M |
| 2023 | $147.58M | $4.99M | $57.88M | $100.14M | $60.37M |
| 2022 | $148.98M | $10.80M | $60.18M | $103.42M | $69.18M |
| 2021 | $137.69M | $10.94M | $59.19M | $96.97M | $70.13M |
| 2020 | $133.15M | $14.94M | $55.48M | $97.26M | $65.49M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-23 | 2026-06-23 | 2026-06-30 | 2026-04-14 | $0.10 | Monthly |
| 2026-05-20 | 2026-05-20 | 2026-05-29 | 2026-04-14 | $0.10 | Monthly |
| 2026-04-24 | 2026-04-24 | 2026-04-30 | 2026-04-14 | $0.10 | Monthly |
| 2026-03-23 | 2026-03-23 | 2026-03-31 | 2026-01-13 | $0.10 | Monthly |
| 2026-02-18 | 2026-02-18 | 2026-02-27 | 2026-01-13 | $0.10 | Monthly |
| 2026-01-23 | 2026-01-23 | 2026-01-30 | 2026-01-13 | $0.10 | Semi-Annual |
| 2025-12-22 | 2025-12-22 | 2025-12-31 | 2025-10-14 | $0.10 | Monthly |
| 2025-11-17 | 2025-11-17 | 2025-11-26 | 2025-10-14 | $0.10 | Monthly |
| 2025-10-24 | 2025-10-24 | 2025-10-31 | 2025-10-14 | $0.10 | Monthly |
| 2025-09-22 | 2025-09-22 | 2025-09-30 | 2025-07-10 | $0.10 | Monthly |
| 2025-08-20 | 2025-08-20 | 2025-08-29 | 2025-07-10 | $0.10 | Monthly |
| 2025-07-21 | 2025-07-21 | 2025-07-31 | 2025-07-10 | $0.10 | Monthly |
| 2025-06-20 | 2025-06-20 | 2025-06-30 | 2025-04-08 | $0.10 | Monthly |
| 2025-05-21 | 2025-05-21 | 2025-05-30 | 2025-04-08 | $0.10 | Monthly |
| 2025-04-21 | 2025-04-21 | 2025-04-30 | 2025-04-08 | $0.10 | Monthly |
| 2025-03-19 | 2025-03-19 | 2025-03-31 | 2025-01-14 | $0.10 | Monthly |
| 2025-02-19 | 2025-02-19 | 2025-02-28 | 2025-01-14 | $0.10 | Monthly |
| 2025-01-24 | 2025-01-24 | 2025-01-31 | 2025-01-14 | $0.10 | Monthly |
| 2024-12-20 | 2024-12-20 | 2024-12-31 | 2024-10-08 | $0.10 | Monthly |
| 2024-11-20 | 2024-11-20 | 2024-11-29 | 2024-10-08 | $0.10 | Monthly |
| 2024-10-22 | 2024-10-22 | 2024-10-31 | 2024-10-08 | $0.10 | Monthly |
| 2024-09-20 | 2024-09-20 | 2024-09-30 | 2024-07-09 | $0.10 | Monthly |
| 2024-08-21 | 2024-08-21 | 2024-08-30 | 2024-07-09 | $0.10 | Monthly |
| 2024-07-22 | 2024-07-22 | 2024-07-31 | 2024-07-09 | $0.10 | Monthly |
Coverage (payout of operating cash flow): 64.28%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.