Gladstone Commercial Corporatio
11.19-0.07 (-0.62%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · GOOD · USD
Key Stats
Market Cap
525.77MP/E (TTM)
30.24Basic EPS (TTM)
0.37Dividend Yield
0.11%Recent Filings
8-K
Credit facility upsized to $600M
Gladstone Commercial upsized its credit facility from $475 million to $600 million on October 10, 2025, boosting the revolving portion to $200 million maturing in October 2029 while extending Term Loan A to October 2029 and Term Loan B to February 2030; it also allows a potential $250 million expansion. This strengthens liquidity for acquisitions and operations, yet keeps interest margins unchanged amid steady covenants. The deal welcomes two new lenders.
8-K
Updates ATM sales agents
Gladstone Commercial Corporation updated its at-the-market equity offering sales agreement on August 12, 2025, by removing Robert W. Baird & Co. as a sales agent and adding Huntington Securities, Inc., maintaining the core program for selling common shares. To date, the company has sold about 6.3 million shares for $93.5 million in gross proceeds, with $156.5 million still available under the registration statement. This adjustment streamlines agent lineup without altering offering terms.
8-K
Q2 Core FFO up 5.4%
Gladstone Commercial reported Q2 2025 results, with Core FFO rising 5.4% to $16.1 million, or $0.35 per share, fueled by acquisitions of two fully occupied properties totaling 519,093 square feet for $79.3 million at an 8.88% cap rate, while selling non-core assets for $23.6 million to recycle capital. Revenues climbed 5.4% to $39.5 million amid 100% rent collection, yet net income dipped 9.8% to $4.6 million due to higher interest expenses. Portfolio now spans 143 properties with 98.7% occupancy. Deleveraging continues.
10-Q
Q2 FY2025 results
Gladstone Commercial's Q2 lease revenue climbed 6.7% y/y to $39.5M, fueled by acquisitions and higher recoveries, while operating expenses dipped 3.2% y/y on lower depreciation. Net income available to common stockholders swung to $1.5M from a $1.6M loss y/y, with diluted EPS at $0.03 versus $(0.04); YTD figures show $3.4M income and $0.07 EPS, reconciling to 45.4M weighted shares. Acquisitions added ten industrial properties for $153.1M, boosting the portfolio to 17.0M square feet at 98.7% occupancy. Cash hit $11.7M with $27.0M revolver availability, supporting $53.5M operating cash flow; total debt stood at $794.4M with a 5.33% weighted rate. Yet tenant defaults remain a persistent risk in this volatile market.
8-K
Secures $20M unsecured term loan
Gladstone Commercial's operating partnership secured a $20 million unsecured term loan from KeyBank on May 30, 2025, maturing May 30, 2027, with SOFR-based rates starting at 1.55% margin. This bolsters liquidity for property acquisitions without altering the existing credit facility, yet covenants limit debt and distributions. Funds target unencumbered assets.
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