Gladstone Commercial
Market Cap
US$707.7m
Last Updated
2021/03/07 23:22 UTC
Data Sources
Company Financials +
Executive Summary
Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 80.3% per year for the next 3 years
+ 1 more risk
Snowflake Analysis
Established dividend payer and slightly overvalued.
Share Price & News
How has Gladstone Commercial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GOOD is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: GOOD's weekly volatility has decreased from 10% to 3% over the past year.
Market Performance
7 Day Return
4.6%
GOOD
-0.7%
US REITs
-0.4%
US Market
1 Year Return
0.7%
GOOD
-4.8%
US REITs
36.2%
US Market
Return vs Industry: GOOD exceeded the US REITs industry which returned -4.9% over the past year.
Return vs Market: GOOD underperformed the US Market which returned 36.2% over the past year.
Shareholder returns
| GOOD | Industry | Market | |
|---|---|---|---|
| 7 Day | 4.6% | -0.7% | -0.4% |
| 30 Day | 6.1% | -1.1% | -2.9% |
| 90 Day | 7.0% | 1.9% | 5.0% |
| 1 Year | 10.7%0.7% | -0.4%-4.8% | 39.1%36.2% |
| 3 Year | 40.9%10.5% | 30.2%14.4% | 48.4%39.0% |
| 5 Year | 82.2%22.4% | 41.2%12.7% | 116.5%92.4% |
Long-Term Price Volatility Vs. Market
How volatile is Gladstone Commercial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Shareholders Of Gladstone Commercial (NASDAQ:GOOD) Must Be Happy With Their 100% Total Return2 months ago | Simply Wall St
How Much Of Gladstone Commercial Corporation (NASDAQ:GOOD) Do Institutions Own?Valuation
Is Gladstone Commercial undervalued compared to its fair value and its price relative to the market?
36.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: GOOD ($19.53) is trading below our estimate of fair value ($30.87)
Significantly Below Fair Value: GOOD is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: GOOD is poor value based on its PE Ratio (211.1x) compared to the US REITs industry average (47.7x).
PE vs Market: GOOD is poor value based on its PE Ratio (211.1x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: GOOD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: GOOD is overvalued based on its PB Ratio (3.2x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is Gladstone Commercial forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
-80.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GOOD's earnings are forecast to decline over the next 3 years (-80.3% per year).
Earnings vs Market: GOOD's earnings are forecast to decline over the next 3 years (-80.3% per year).
High Growth Earnings: GOOD's earnings are forecast to decline over the next 3 years.
Revenue vs Market: GOOD's revenue (2.8% per year) is forecast to grow slower than the US market (10% per year).
High Growth Revenue: GOOD's revenue (2.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if GOOD's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Gladstone Commercial performed over the past 5 years?
-11.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GOOD has a large one-off gain of $4.5M impacting its December 31 2020 financial results.
Growing Profit Margin: GOOD became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: GOOD has become profitable over the past 5 years, growing earnings by -11.7% per year.
Accelerating Growth: GOOD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: GOOD has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (-6.1%).
Return on Equity
High ROE: GOOD's Return on Equity (4%) is considered low.
Next Steps
Financial Health
How is Gladstone Commercial's financial position?
Financial Position Analysis
Short Term Liabilities: GOOD's short term assets ($70.3M) exceed its short term liabilities ($11.0M).
Long Term Liabilities: GOOD's short term assets ($70.3M) do not cover its long term liabilities ($711.6M).
Debt to Equity History and Analysis
Debt Level: GOOD's debt to equity ratio (179%) is considered high.
Reducing Debt: GOOD's debt to equity ratio has reduced from 241% to 179% over the past 5 years.
Debt Coverage: GOOD's debt is not well covered by operating cash flow (9.7%).
Interest Coverage: GOOD's interest payments on its debt are not well covered by EBIT (1.4x coverage).
Balance Sheet
Next Steps
Dividend
What is Gladstone Commercial current dividend yield, its reliability and sustainability?
7.69%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: GOOD's dividend (7.69%) is higher than the bottom 25% of dividend payers in the US market (1.31%).
High Dividend: GOOD's dividend (7.69%) is in the top 25% of dividend payers in the US market (3.64%)
Stability and Growth of Payments
Stable Dividend: GOOD's dividends per share have been stable in the past 10 years.
Growing Dividend: GOOD's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (116.4%), GOOD's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: GOOD's dividends in 3 years are forecast to be covered by earnings (92.2% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.8yrs
Average management tenure
CEO
David Gladstone (78 yo)
18.08yrs
Tenure
US$70,898
Compensation
Mr. David John Gladstone has been the Chief Executive Officer, President, Chief Investment Officer and Director of Gladstone Acquisition Corporation since January 2021 and serves as its Chairman. He is a F...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 18.08yrs | US$70.90k | 1.34% $ 9.5m | |
| Vice Chairman & COO | 13.67yrs | US$169.24k | no data | |
| President | 8.75yrs | no data | 0.16% $ 1.2m | |
| Chief Financial Officer | 4.33yrs | US$95.38k | 0.030% $ 212.9k | |
| Investor Relations Specialist | no data | no data | no data | |
| Chief Compliance Officer | 13.5yrs | no data | no data | |
| General Counsel & Secretary | no data | no data | 0.010% $ 71.9k | |
| Executive VP & Head of South Central Region | no data | no data | no data | |
| Executive VP & Head of Northeast and Midwest Regions | no data | no data | no data | |
| Executive VP & Head of Southeast and West Regions | 3.67yrs | no data | no data | |
| Treasurer | 6.17yrs | no data | no data | |
| Controller | no data | no data | no data |
8.8yrs
Average Tenure
58yo
Average Age
Experienced Management: GOOD's management team is seasoned and experienced (8.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 18.08yrs | US$70.90k | 1.34% $ 9.5m | |
| Vice Chairman & COO | 13.67yrs | US$169.24k | no data | |
| Independent Director | 6.42yrs | US$37.00k | 0.025% $ 177.8k | |
| Independent Director | 17.58yrs | US$37.00k | 0.0049% $ 34.9k | |
| Independent Director | 17.58yrs | US$44.50k | 0.094% $ 663.9k | |
| Lead Independent Director | 17.58yrs | US$38.00k | 0.034% $ 238.9k | |
| Independent Director | 17.25yrs | US$48.00k | 0.0074% $ 52.5k | |
| Independent Director | 6.33yrs | US$37.00k | 0.0079% $ 55.8k |
17.4yrs
Average Tenure
75yo
Average Age
Experienced Board: GOOD's board of directors are seasoned and experienced ( 17.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.3%.
Top Shareholders
Company Information
Gladstone Commercial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Gladstone Commercial Corporation
- Ticker: GOOD
- Exchange: NasdaqGS
- Founded: 2003
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$707.715m
- Market Cap: US$697.890m
- Shares outstanding: 36.24m
- Website: https://www.gladstonecommercial.com
Location
- Gladstone Commercial Corporation
- 1521 Westbranch Drive
- Suite 100
- McLean
- Virginia
- 22102
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| GOOD | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Aug 2003 |
| GLE | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 2003 |
| 0IVQ | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Aug 2003 |
| GOOD.M | NasdaqGS (Nasdaq Global Select) | PFD SER D | US | USD | May 2016 | |
| GOOD.N | NasdaqGS (Nasdaq Global Select) | 6.625 SR E PFD | US | USD | Sep 2019 |
Biography
Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments throu...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/07 23:22 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.