Company Quick10K Filing
Gladstone Commercial
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 31 $723
10-K 2020-02-12 Annual: 2019-12-31
10-Q 2019-10-30 Quarter: 2019-09-30
10-Q 2019-07-30 Quarter: 2019-06-30
10-Q 2019-04-30 Quarter: 2019-03-31
10-K 2019-02-13 Annual: 2018-12-31
10-Q 2018-10-30 Quarter: 2018-09-30
10-Q 2018-07-30 Quarter: 2018-06-30
10-Q 2018-05-01 Quarter: 2018-03-31
10-K 2018-02-14 Annual: 2017-12-31
10-Q 2017-10-31 Quarter: 2017-09-30
10-Q 2017-07-31 Quarter: 2017-06-30
10-Q 2017-05-02 Quarter: 2017-03-31
10-K 2017-02-15 Annual: 2016-12-31
10-Q 2016-10-31 Quarter: 2016-09-30
10-Q 2016-07-25 Quarter: 2016-06-30
10-Q 2016-04-27 Quarter: 2016-03-31
10-K 2016-02-17 Annual: 2015-12-31
10-Q 2015-10-27 Quarter: 2015-09-30
10-Q 2015-08-03 Quarter: 2015-06-30
10-Q 2015-05-04 Quarter: 2015-03-31
10-K 2015-02-18 Annual: 2014-12-31
10-Q 2014-10-29 Quarter: 2014-09-30
10-Q 2014-07-29 Quarter: 2014-06-30
10-Q 2014-04-28 Quarter: 2014-03-31
10-K 2014-02-18 Annual: 2013-12-31
10-Q 2013-11-04 Quarter: 2013-09-30
10-Q 2013-07-30 Quarter: 2013-06-30
10-Q 2013-04-29 Quarter: 2013-03-03
10-K 2013-02-19 Annual: 2012-12-31
10-Q 2012-11-01 Quarter: 2012-09-30
10-Q 2012-07-31 Quarter: 2012-06-30
10-Q 2012-04-30 Quarter: 2012-03-31
10-Q 2011-11-01 Quarter: 2011-09-30
10-Q 2011-08-02 Quarter: 2011-06-30
10-Q 2011-05-02 Quarter: 2011-03-31
10-K 2011-03-08 Annual: 2010-12-31
10-Q 2010-11-01 Quarter: 2010-09-30
10-Q 2010-08-03 Quarter: 2010-06-30
10-Q 2010-05-03 Quarter: 2010-03-31
10-K 2010-02-24 Annual: 2009-12-31
8-K 2020-02-20 Enter Agreement, Shareholder Rights, Amend Bylaw, Regulation FD, Exhibits
8-K 2020-02-12 Earnings, Exhibits
8-K 2019-12-02 Enter Agreement, Amend Bylaw, Other Events, Exhibits
8-K 2019-11-22 Leave Agreement
8-K 2019-10-30 Earnings, Exhibits
8-K 2019-10-28 Other Events
8-K 2019-09-25 Enter Agreement, Shareholder Rights, Amend Bylaw, Exhibits
8-K 2019-09-25 Regulation FD, Exhibits
8-K 2019-07-30 Earnings, Exhibits
8-K 2019-07-02 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-05-02 Shareholder Vote
8-K 2019-04-30 Earnings, Exhibits
8-K 2019-02-15 Other Events, Exhibits
8-K 2019-02-13 Earnings, Exhibits
8-K 2018-10-30 Sale of Shares, Regulation FD, Other Events, Exhibits
8-K 2018-10-30 Earnings, Exhibits
8-K 2018-07-30 Earnings, Exhibits
8-K 2018-07-11 Enter Agreement, Exhibits
8-K 2018-05-03 Shareholder Vote
8-K 2018-05-01 Earnings, Exhibits
8-K 2018-04-11 Amend Bylaw, Exhibits
8-K 2018-02-14 Earnings, Exhibits

Gladstone Commercial Financials

GOOD Metrics, Comps, Filings

Annual | Quarterly

Business

Gladstone Commercial Corporation (which we refer to as "we," "us," or the "Company") is a REIT that was incorporated under the General Corporation Law of the State of Maryland on February 14, 2003. We focus on acquiring, owning, and managing primarily office and industrial properties. On a selective basis, we may make long term industrial and office mortgage loans; however we do not have any mortgage loans receivable currently outstanding. Our properties are geographically diversified and our tenants cover a broad cross section of business sectors and range in size from small to very large private and public companies. We actively communicate with buyout funds, real estate brokers and other third parties to locate properties for potential acquisition or to provide mortgage financing in an effort to build our portfolio. We target secondary growth markets that possess favorable economic growth trends, diversified industries, and growing population and employment.

We have historically entered into, and intend in the future to enter into, purchase agreements for real estate having net leases with terms of approximately 7 to 15 years with built-in rental rate increases. Under a net lease, the tenant is required to pay most or all operating, maintenance, repair and insurance costs and real estate taxes with respect to the leased property.

-we owned 101 properties totaling 11.7 million square feet (all references to the number of properties and square footage are unaudited herein and throughout Notes) of rentable space in 24 states;


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Stockholders' Equity

Income Statement ($BB Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($BB Annual)

Operating, Investing, Financing

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Marcus & Millichap (MMI) 1,195 38% 8.0 13% 640 189 811 310 84 123 988
Innovative Industrial Properties (IIPR) 1,174 0% 67.1 3% 431 165 24 0 12 19 1,250
Armada Hoffler Properties (AHH) 905 11% 19.9 1% 1,730 1,124 198 21 23 92 1,828
Safety, Income & Growth (SAFE) 899 96% 35.2 2% 1,233 640 42 40 23 39 1,359
Forestar Group (FOR) 878 6% 23.3 3% 1,325 630 216 13 34 48 1,114
Bluegreen Vacations (BXG) 835 96% 4.9 4% 1,351 890 740 711 55 123 607
Realogy Holdings (RLGY) 804 0% 7.7 1% 7,954 5,701 5,879 0 53 577 4,451
Gladstone Commercial (GOOD) 723 0% 14.4 1% 970 620 110 0 12 90 1,290
EXP World (EXPI) 664 3% -38.0 -17% 105 65 731 22 -18 -17 629
Retail Value (RVI) 655 0% 2.7 3% 1,730 846 260 0 58 189 503
Front Yard Residential (RESI) 624 0% 11.6 -6% 2,102 1,697 207 0 -126 47 543
Ellington Financial (EFC) 562 5.7 1% 3,128 2,534 0 0 34 106 604
Boston Omaha (BOMN) 503 59% 275.1 -3% 390 66 33 20 -12 2 491
FRP Holdings (FRPH) 495 0% 19.5 3% 535 144 23 0 15 26 512
BBX Capital (BBX) 454 1% 0.6 1% 1,802 1,167 959 12 25 119 73
Tejon Ranch (TRC) 432 0% 43.1 1% 529 94 35 0 5 11 493
Nam Tai Property (NTP) 340 0% 318 90 0 0 0 0 340
Rafael Holdings (RFL) 304 0% -259.0 -2% 143 17 5 0 -3 -1 291
Consolidated Tomoka Land (CTO) 302 71% 9.2 5% 578 380 84 59 29 57 522
Pico Holdings (PICO) 228 0% 281.3 0% 177 2 17 0 1 1 219

Balance Sheet ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash23944322
Accounts Receivable
Inventory
PP&E389468561630668690744768
Assets453565691788833852928939
Accounts Payable
Long-Term Debt384447503531509543566
Liabilities318442507570599541578599
Stockholders' Equity135122183218234240267250
Income Statement ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue107
Cost of Revenue
Gross Profit
R&D
SG&A12232222
Tax
Net Income642-644612
Cash Flow ($MM)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating2023202831414756
Cash Investing-46-92-137-130-74-59-99-34
Cash Financing2371120102401754-21