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Sat 12 Dec 20, 02:24 AM| 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 | -0.00600M | -0.04200M | 0.06M | -0.02300M | -0.04000M |
| Net income | 19.29M | 24.00M | 4.99M | -23.18500M | -19.99400M |
| Selling general administrative | 6.62M | 6.45M | 6.71M | 17.17M | 15.41M |
| Selling and marketing expenses | - | - | - | - | - |
| 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 |
| Tax provision | - | - | - | - | - |
| Interest income | - | - | - | - | - |
| Net interest income | -41.91400M | -37.39500M | -37.33000M | -32.45700M | -26.88700M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | 12.09M | - |
| Other items | - | - | - | - | - |
| 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 | -50.37600M | 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 | -40.66400M | -27.09900M | -45.85500M | -34.49700M | -28.01900M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 19.29M | 24.04M | 4.92M | 9.29M | 9.77M |
| Net income applicable to common shares | - | - | - | -3.03900M | -4.55400M |
| 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 |
| Earning assets | - | - | - | - | - |
| Other current assets | - | 9.51M | -28.05000M | 55.05M | -26.54000M |
| 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 | -10.95900M | 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 | -673.16800M | -623.91200M | -584.77600M | -530.22800M | -468.52300M |
| Other liab | - | - | - | 58.51M | 47.33M |
| Good will | - | - | - | - | - |
| Other assets | 1066.04M | 939.00M | 974.54M | 1034.22M | 981.84M |
| Cash | 10.81M | 10.96M | 11.98M | 11.65M | 7.96M |
| Cash and equivalents | - | - | - | - | - |
| 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 |
| Long term investments | - | - | - | - | - |
| 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 | -38.88400M | 39.07M |
| Accounts payable | 10.96M | 13.20M | 13.59M | 9.61M | 6.74M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | 1.79M | 1.26M |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 3.31M | 10.65M | 7.76M | 11.64M | -1.34600M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | 0.04M | 0.04M |
| Preferred stock total equity | - | - | - | 0.00100M | - |
| Retained earnings total equity | - | - | - | -530.22800M | -468.52300M |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | -1034.06200M | 951.86M | 975.10M | 1018.05M | 963.95M |
| Deferred long term asset charges | - | - | - | - | - |
| 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 | - | -1.72700M | 1.14M | -1.51400M | 1.84M |
| Change to liabilities | - | - | - | 0.76M | 4.35M |
| Total cashflows from investing activities | -221.37700M | -1.72700M | 1.24M | -82.51300M | -94.77700M |
| Net borrowings | 150.54M | -45.17000M | -8.58300M | 38.51M | 36.99M |
| Total cash from financing activities | 134.74M | -56.28700M | -61.46600M | 16.15M | 21.75M |
| Change to operating activities | - | - | - | -1.63600M | 2.49M |
| Net income | 19.29M | 24.04M | 4.55M | 9.27M | 9.73M |
| Change in cash | 1.52M | -1.06100M | -1.16000M | 2.81M | -2.89800M |
| 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 | -221.37700M | -1.72700M | -0.48100M | 38.79M | 8.88M |
| Dividends paid | 68.17M | 62.79M | 60.62M | -71.09200M | -67.59200M |
| Change to inventory | - | - | 3.16M | - | - |
| Change to account receivables | -3.02500M | - | -3.16100M | -1.33000M | -2.90000M |
| Sale purchase of stock | -4.50000M | -1.71200M | -1.55000M | -0.36000M | -87.73900M |
| Other cashflows from financing activities | -4.43400M | -1.22100M | -1.33400M | 318.72M | 151.13M |
| Change to netincome | - | - | - | 0.71M | -1.75200M |
| Capital expenditures | 20.98M | 0.00000M | 6.67M | 119.79M | 105.50M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | -2.54000M | -0.87800M |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | 2.81M | -2.89800M |
| Change in working capital | -4.26200M | -5.30300M | -5.52300M | -1.36600M | 2.42M |
| Stock based compensation | - | - | - | - | - |
| Other non cash items | 20.91M | -17.57700M | 3.48M | -0.42200M | -2.38600M |
| Free cash flow | 88.15M | 56.95M | 53.69M | 69.18M | 70.13M |
Sector: Real Estate Industry: REIT - Diversified
| Company | 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 |
0.14 1.09% | 12.52 | 89.79 | 51.02 | 3.80 | 3.59 | 9.03 | 12.19 |
| GMGSF Goodman Group |
- -% | 21.50 | 35.32 | 21.46 | 13.97 | 2.56 | 32.21 | 34.78 |
| VICI VICI Properties Inc |
-0.245 0.90% | 27.04 | 13.14 | 11.40 | 9.27 | 1.33 | 14.27 | 15.38 |
| WPC W P Carey Inc |
-0.01 0.01% | 73.57 | 17.96 | - | 8.15 | 1.54 | 12.82 | 12.76 |
| STKAF Stockland |
- -% | 2.69 | 27.50 | 14.81 | 2.56 | 1.08 | 3.44 | 15.75 |
Gladstone Commercial Corporation is an established real estate investment trust (REIT) that invests in single tenant and anchored multi-tenant net leased assets. As of June 30, 2025, we owned approximately 17.0 million square feet of primarily industrial and office real estate nationwide. We partner with a variety of tenants"from middle market private businesses to investment grade rated companies. We acquire properties through third party purchases, sale leaseback transactions, and by partnering with developers in build-to-suit transactions. As of June 30, 2025, total assets were approximately $1.2 billion, representing investments in 143 properties. Our properties are leased to 107 tenants who represent 20 diversified industries across 27 states. At June 30, 2025, our leases had an average remaining term of 7.1 years. In addition, approximately 51% of our tenants have an investment grade or investment grade equivalent credit rating. Gladstone Commercial Corporation was incorporated in 2003 in Maryland.
1521 Westbranch Drive, McLean, VA, United States, 22102-3211
| 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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