Gladstone Commercial Corporation

DB:GLE Stock Report

Market Cap: €695.8m

Gladstone Commercial Valuation

Is GLE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GLE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€23.19
Fair Value
28.8% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: GLE (€16.5) is trading below our estimate of fair value (€23.19)

Significantly Below Fair Value: GLE is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GLE?

Key metric: As GLE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GLE. This is calculated by dividing GLE's market cap by their current earnings.
What is GLE's PE Ratio?
PE Ratio84.5x
EarningsUS$8.48m
Market CapUS$716.97m

Price to Earnings Ratio vs Peers

How does GLE's PE Ratio compare to its peers?

The above table shows the PE ratio for GLE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average43x
HABA Hamborner REIT
63x9.5%€515.7m
DKG Deutsche Konsum REIT-AG
77.4x52.7%€152.3m
AXREIT Axis Real Estate Investment Trust
15.1x-2.9%RM 3.5b
OLP One Liberty Properties
16.4x-37.7%US$550.7m
GLE Gladstone Commercial
84.5x14.8%€717.0m

Price-To-Earnings vs Peers: GLE is expensive based on its Price-To-Earnings Ratio (84.5x) compared to the peer average (43x).

Price to Earnings Ratio vs Industry

How does GLE's PE Ratio compare vs other companies in the European REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
GLE 84.5xIndustry Avg. 21.3xNo. of Companies7PE01632486480+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GLE is expensive based on its Price-To-Earnings Ratio (84.5x) compared to the European REITs industry average (21.3x).

Price to Earnings Ratio vs Fair Ratio

What is GLE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GLE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio84.5x
Fair PE Ratio59.1x

Price-To-Earnings vs Fair Ratio: GLE is expensive based on its Price-To-Earnings Ratio (84.5x) compared to the estimated Fair Price-To-Earnings Ratio (59.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GLE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€16.50
€16.76
+1.6%
4.4%€17.54€15.59n/a5
Jan ’26€15.38
€16.28
+5.9%
4.4%€17.04€15.15n/a5
Dec ’25€16.62
€16.32
-1.8%
4.4%€17.08€15.18n/a5
Nov ’25€14.47
€14.60
+0.9%
5.0%€15.61€13.78n/a5
Oct ’25€14.46
€13.73
-5.0%
6.2%€14.65€12.36n/a4
Sep ’25€13.66
€13.73
+0.5%
6.2%€14.65€12.36n/a4
Aug ’25€14.15
€13.69
-3.3%
5.5%€14.26€12.42n/a4
Jul ’25€13.00
€13.69
+5.3%
5.5%€14.26€12.42n/a4
Jun ’25€12.98
€13.69
+5.4%
5.5%€14.26€12.42n/a4
May ’25€12.31
€13.15
+6.8%
7.6%€14.56€11.74n/a4
Apr ’25€12.70
€12.88
+1.4%
7.6%€14.26€11.50n/a4
Mar ’25€11.40
€12.53
+9.9%
5.2%€12.99€11.60n/a3
Feb ’25€11.95
€12.54
+4.9%
5.2%€13.01€11.61n/a3
Jan ’25€12.05
€12.54
+4.1%
5.2%€13.01€11.61€15.383
Dec ’24€11.55
€12.30
+6.5%
5.2%€12.76€11.39€16.623
Nov ’24€11.40
€13.34
+17.0%
1.8%€13.57€13.10€14.472
Oct ’24€11.80
€13.34
+13.0%
1.8%€13.57€13.10€14.462
Sep ’24€11.05
€13.21
+19.5%
2.8%€13.66€12.75€13.663
Aug ’24€12.40
€12.32
-0.6%
6.1%€13.36€11.58€14.153
Jul ’24€11.25
€12.65
+12.4%
6.1%€13.71€11.88€13.003
Jun ’24€10.90
€12.70
+16.5%
6.9%€13.94€12.08€12.983
May ’24€10.75
€15.34
+42.7%
12.5%€16.73€12.08€12.314
Apr ’24€11.46
€15.34
+33.8%
12.5%€16.73€12.08€12.704
Mar ’24€12.06
€16.26
+34.8%
4.8%€16.97€15.08€11.404
Feb ’24€15.78
€17.42
+10.4%
6.0%€18.46€16.15€11.954
Jan ’24€17.29
€19.48
+12.7%
5.7%€20.98€17.98€12.054
Analyst Price Target
Consensus Narrative from 5 Analysts
€17.40
Fair Value
5.2% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/20 14:20
End of Day Share Price 2025/01/17 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Gladstone Commercial Corporation is covered by 13 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gaurav MehtaAlliance Global Partners
Christopher LucasBaird
Merrill RossBoenning & Scattergood, Inc.