10x Insights
Loading account…
Companies / Real Estate / Gladstone Commercial Corporation
GOOD

Gladstone Commercial Corporation

Real EstateReal Estate
Ticker GOODMCLEAN, VAFiscal year ends DecemberBook value per share $3.06Diluted shares 48.4M

Gladstone Commercial Corporation (Nasdaq: GOOD) is a real estate investment trust that acquires, owns and manages income-producing commercial properties, primarily industrial and office buildings leased to businesses ranging from small private companies to large public corporations. Its portfolio consists mainly of… From the company’s description.

Over the twelve months to Sep 30, 2026, Gladstone Commercial Corporation reported revenue of $171.78M, up 10.6% from a year earlier, and net income of $18.56M. Its operating margin was 35.5%, and operations generated $72.11M in cash. In fiscal 2025, it reported revenue of $161.34M, up 8.0% from fiscal 2024, and net income of $19.29M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$161.34MFY2025
+8.0% year over year
Last 12 mo $171.78M
37.16%FY2025
+6 percentage points
Last 12 mo 35.52%
$19.29MFY2025
−19.8% year over year
Last 12 mo $18.56M
11.23%FY2025
−2.8 percentage points
Last 12 mo 12.54%
Cash & financing
$88.15MFY2025
+54.8% year over year
Last 12 mo $72.11M
$88.15MFY2025
+54.8% year over year
Last 12 mo $72.11M
4.93FY2025
Was 4.05× a year earlier
Last 12 mo 5.82
46.5MFY2025
+11.4% year over year
Last 12 mo 48.4M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Gladstone Commercial Corporation does

In the company’s own words

Gladstone Commercial Corporation (Nasdaq: GOOD) is a real estate investment trust that acquires, owns and manages income-producing commercial properties, primarily industrial and office buildings leased to businesses ranging from small private companies to large public corporations. Its portfolio consists mainly of single-tenant properties, and leases are typically structured as net leases, under which tenants pay most or all property operating, maintenance, insurance and tax costs. The company focuses primarily on industrial properties, while also acquiring select multi-tenant industrial properties and, less frequently, office properties; it may also provide mortgage financing. Properties are generally leased on long terms with rental increases and are located mainly in the continental United States. Gladstone Commercial operates through Gladstone Commercial Limited Partnership, which holds its properties directly or through subsidiaries, and is managed by an external adviser. As of February 18, 2026, it owned 151 properties with 17.7 million square feet of rentable space across 27 states. The company was incorporated in 2003 and has elected REIT tax treatment. Its website is www.GladstoneCommercial.com.

Company details
Sector
Real Estate
Industry (SIC)
Real Estate
Headquarters
MCLEAN, VA
Fiscal year end
December
CIK
1234006
SIC
6519

Financial performance, year by year

Fiscal 2011–2025 · USD
$-23.67M$29.63M$82.94M$136.24M$189.55M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Gladstone Commercial Corporation — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

151
funds hold it
0 of 35
superinvestors hold it
$153.57M
held by funds, at market
25.3%
of shares held by funds

Largest fund holders · Gladstone Commercial Corporation’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.02%of fund net assets
Invesco KBW Premium Yield Equity REIT ETF
KBWY · Invesco Exchange-Traded Fund Trust II
—of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.01%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Gladstone Commercial Corporation and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Gladstone Commercial Corporation's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Gladstone Commercial Corporation's last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.