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Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of March 31, 2026, Gladstone Commercial's real estate portfolio consisted of 151 properties located in 27 states, totaling approximately 17.7 million square feet. Gladstone Commercial Corporation was established on February 14, 2003 and incorporated in Maryland and is based in McLean, Virginia.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Gladstone Commercial Corporation is a publicly traded REIT owning U.S. industrial, office and retail properties, emphasizing single-tenant net-leased and multi-tenant assets. Long-term growth may be driven by recurring rental income from long-term leases, secular demand for industrial/flex space, and selective acquisitions. Investors may find it attractive for income-oriented exposure to commercial real estate and potential net asset growth from lease renewals and portfolio optimization.
Key risks are interest-rate sensitivity and leverage, tenant credit and concentration, and weak office fundamentals that could pressure occupancy and rents.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 19.29M | 24.04M | 4.92M | 9.27M | 9.73M |
| Minority interest | -0.01M | -0.04M | 0.06M | -0.02M | -0.04M |
| Net income | 19.29M | 24.00M | 4.99M | -23.18M | -19.99M |
| Selling general administrative | 6.62M | 6.45M | 6.71M | 17.17M | 15.41M |
| Gross profit | 9.58M | 117.86M | 115.35M | 122.15M | 110.59M |
| Reconciled depreciation | 58.28M | 55.79M | 57.88M | 61.69M | 60.35M |
| Ebit | 61.19M | 61.44M | 42.25M | 43.77M | 37.75M |
| Ebitda | 119.44M | 117.23M | 100.14M | 105.46M | 98.11M |
| Depreciation and amortization | 58.24M | 55.79M | 57.88M | 61.69M | 60.35M |
| Non operating income net other | - | - | - | 10.51M | 1.73M |
| Operating income | 59.96M | 51.14M | 50.78M | 43.77M | 37.75M |
| Other operating expenses | 101.38M | 98.25M | 96.81M | 105.67M | 102.82M |
| Interest expense | 41.90M | 37.40M | 37.33M | 32.46M | 26.89M |
| Net interest income | -41.91M | -37.40M | -37.33M | -32.46M | -26.89M |
| Non recurring | - | - | - | 12.09M | - |
| Income tax expense | - | 12.87M | 7.74M | 32.46M | 29.73M |
| Total revenue | 161.34M | 149.39M | 147.58M | 148.98M | 137.69M |
| Total operating expenses | -50.38M | 66.72M | 64.57M | 78.83M | 75.72M |
| Cost of revenue | 151.76M | 31.53M | 32.24M | 26.83M | 27.10M |
| Total other income expense net | -40.66M | -27.10M | -45.85M | -34.50M | -28.02M |
| Net income from continuing ops | 19.29M | 24.04M | 4.92M | 9.29M | 9.77M |
| Net income applicable to common shares | - | - | - | -3.04M | -4.55M |
| Preferred stock and other adjustments | - | - | - | 11.87M | 11.49M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 1246.93M | 1094.35M | 1133.47M | 1201.51M | 1143.35M |
| Intangible assets | 115.58M | 95.11M | 101.05M | 111.62M | 114.49M |
| Other current assets | - | 9.51M | -28.05M | 55.05M | -26.54M |
| Total liab | 905.00M | 923.05M | 979.21M | 996.94M | 940.79M |
| Total stockholder equity | 341.81M | 171.17M | 153.28M | 202.78M | 201.30M |
| Deferred long term liab | - | - | - | 39.54M | 37.51M |
| Other current liab | -10.96M | 2.54M | 3.23M | 3.36M | 3.43M |
| Common stock | 0.05M | 0.04M | 0.04M | 0.04M | 0.04M |
| Capital stock | 0.05M | 0.05M | 0.04M | 0.04M | 0.04M |
| Retained earnings | -673.17M | -623.91M | -584.78M | -530.23M | -468.52M |
| Other liab | - | - | - | 58.51M | 47.33M |
| Other assets | 1066.04M | 939.00M | 974.54M | 1034.22M | 981.84M |
| Cash | 10.81M | 10.96M | 11.98M | 11.65M | 7.96M |
| Total current liabilities | 36.00M | 39.63M | 121.89M | 36.21M | 43.72M |
| Current deferred revenue | - | 22.00M | 29.32M | - | - |
| Net debt | 845.58M | 686.49M | 731.97M | 742.86M | 705.08M |
| Short term debt | 36.00M | 1.90M | 75.75M | 23.25M | 33.55M |
| Short long term debt | 37.37M | 1.90M | 75.75M | 23.25M | 33.55M |
| Short long term debt total | 856.39M | 697.45M | 743.95M | 754.51M | 713.03M |
| Other stockholder equity | 841.57M | 784.39M | 730.26M | 721.33M | 500.87M |
| Property plant equipment | - | - | - | 1000.30M | 958.59M |
| Total current assets | 58.73M | 43.42M | 52.44M | 66.71M | 59.55M |
| Net tangible assets | - | - | - | 261.21M | 257.07M |
| Short term investments | - | - | 6.91M | - | - |
| Net receivables | 47.92M | 18.62M | 41.01M | 38.88M | 39.07M |
| Long term debt | 806.10M | 691.49M | 663.11M | 725.96M | 673.98M |
| Inventory | 10.43M | 4.34M | 27.50M | -38.88M | 39.07M |
| Accounts payable | 10.96M | 13.20M | 13.59M | 9.61M | 6.74M |
| Noncontrolling interest in consolidated entity | - | - | - | 1.79M | 1.26M |
| Accumulated other comprehensive income | 3.31M | 10.65M | 7.76M | 11.64M | -1.35M |
| Common stock total equity | - | - | - | 0.04M | 0.04M |
| Preferred stock total equity | - | - | - | 0.00M | - |
| Retained earnings total equity | - | - | - | -530.23M | -468.52M |
| Non currrent assets other | -1034.06M | 951.86M | 975.10M | 1018.05M | 963.95M |
| Non current assets total | 122.16M | 1050.93M | 1081.03M | 1134.80M | 1083.80M |
| Capital lease obligations | 6.78M | 4.06M | 5.09M | 5.31M | 5.51M |
| Long term debt total | - | - | - | 725.96M | 673.98M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -1.73M | 1.14M | -1.51M | 1.84M |
| Change to liabilities | - | - | - | 0.76M | 4.35M |
| Total cashflows from investing activities | -221.38M | -1.73M | 1.24M | -82.51M | -94.78M |
| Net borrowings | 150.54M | -45.17M | -8.58M | 38.51M | 36.99M |
| Total cash from financing activities | 134.74M | -56.29M | -61.47M | 16.15M | 21.75M |
| Change to operating activities | - | - | - | -1.64M | 2.49M |
| Net income | 19.29M | 24.04M | 4.55M | 9.27M | 9.73M |
| Change in cash | 1.52M | -1.06M | -1.16M | 2.81M | -2.90M |
| Begin period cash flow | 15.07M | 16.14M | 24.81M | 13.18M | 16.08M |
| End period cash flow | 16.59M | 15.07M | 23.65M | 15.99M | 13.18M |
| Total cash from operating activities | 88.15M | 56.95M | 60.37M | 69.18M | 70.13M |
| Issuance of capital stock | 62.18M | 55.42M | 10.22M | 49.68M | 144.68M |
| Depreciation | 52.22M | 55.79M | 57.86M | 61.69M | 60.35M |
| Other cashflows from investing activities | -221.38M | -1.73M | -0.48M | 38.79M | 8.88M |
| Dividends paid | 68.17M | 62.79M | 60.62M | -71.09M | -67.59M |
| Change to inventory | - | - | 3.16M | - | - |
| Change to account receivables | -3.02M | - | -3.16M | -1.33M | -2.90M |
| Sale purchase of stock | -4.50M | -1.71M | -1.55M | -0.36M | -87.74M |
| Other cashflows from financing activities | -4.43M | -1.22M | -1.33M | 318.72M | 151.13M |
| Change to netincome | - | - | - | 0.71M | -1.75M |
| Capital expenditures | 20.98M | 0.00M | 6.67M | 119.79M | 105.50M |
| Cash flows other operating | - | - | - | -2.54M | -0.88M |
| Cash and cash equivalents changes | - | - | - | 2.81M | -2.90M |
| Change in working capital | -4.26M | -5.30M | -5.52M | -1.37M | 2.42M |
| Other non cash items | 20.91M | -17.58M | 3.48M | -0.42M | -2.39M |
| Free cash flow | 88.15M | 56.95M | 53.69M | 69.18M | 70.13M |
Sector: Real Estate Industry: REIT - Diversified
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| GOOD Gladstone Commercial Corporation |
-0.30 2.87% |
10.15 | 51.16 | 60.61 | 3.67 | 3.92 | 8.61 | 11.20 |
| GMGSF Goodman Group |
- -% |
18.68 | 35.32 | 21.46 | 13.97 | 2.56 | 32.21 | 34.78 |
| VICI VICI Properties Inc |
-0.44 1.75% |
24.77 | 13.14 | 11.40 | 9.27 | 1.33 | 14.27 | 15.38 |
| WPC W P Carey Inc |
-0.24 0.37% |
65.05 | 23.40 | 25.00 | 8.55 | 1.82 | 13.65 | 15.78 |
| CTOUF Charter Hall Group |
- -% |
15.24 | 19.27 | 20.58 | 8.82 | 3.56 | 23.47 | 16.08 |
Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of March 31, 2026, Gladstone Commercial's real estate portfolio consisted of 151 properties located in 27 states, totaling approximately 17.7 million square feet. Gladstone Commercial Corporation was established on February 14, 2003 and incorporated in Maryland and is based in McLean, Virginia.
1521 Westbranch Drive, McLean, VA, United States, 22102-3211
703 287 5800
| Name | Title | Year Born |
|---|---|---|
| Mr. David John Gladstone | Founder, Chairman & CEO | 1942 |
| Mr. Terry Lee Brubaker | Vice Chairman & COO | 1944 |
| Mr. Arthur S. Cooper | Pres | 1957 |
| Mr. Gary Gerson | CFO & Assistant Treasurer | 1964 |
| Mr. EJ Wislar | Chief Investment Officer & Head of the Southeast and Northeast Regions | NA |
| Ms. Karin McLaughlin | Investor Relations Specialist | NA |
| Mr. John Anthony Dellafiora Jr., CPA | Chief Compliance Officer | NA |
| Mr. Michael Bernard LiCalsi Esq., J.D. | Gen. Counsel & Sec. | 1970 |
| Mr. Ryan Carter | Exec. VP and Head of West & Midwest Region | NA |
| Mr. Jay Beckhorn | Treasurer | 1962 |
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