Gladstone Commercial Corporation Real Estate Investment Trust (GOOD)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Gladstone Commercial as a REIT, so reported EPS and P/E deserve less weight because depreciation distorts them. The right REIT measures, FFO and AFFO, are not in the data. What I can see is a small net-lease landlord with 151 properties in 27 states, about 17.7 million square feet. Revenue rose from $147.6M in FY2023 to $149.4M in FY2024 to $161.3M in FY2025, and fiscal Q2 2026 revenue was $44.0M with net income of $8.3M. That is progress. But the Lynch profile is a slow grower: profit compounded about 5.2% a year and revenue 3.9% over five years. Filed net income actually fell from $24.0M in FY2024 to $19.3M in FY2025, though fiscal Q2 2026 improved to $8.3M from $4.6M in fiscal Q2 2025. At the $12.84 close on 2026-10-13, FairStock's P/B is 3.95, rich for a leveraged REIT, and P/E is 51.36. Debt/equity is 2.62, ROCE is 3.38%, and Altman Z-score is -0.42, so balance-sheet risk is real. The 9.52% dividend yield is attractive only if cash flow and asset values hold. FCF yield of 11.3% and Piotroski F-Score of 6/9 offer some support. The moat is narrow at best: scale is modest, tenant credit and refinancing matter more than pricing power. I would want FFO/AFFO, occupancy, lease maturities, and debt costs before calling this a bargain. Price looks full, not cheap.

In plain English: Gladstone Commercial owns industrial and office buildings and rents them to businesses across the United States. The business looks only moderately strong: revenue is rising, but profits are thin and debt is high. At $12.84, the shares do not look cheap compared with the company's accounting value and current profits, even though the dividend payout is high.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer