GOODM - Gladstone Commercial: Preferreds Offer More Attractive Risk-Adjusted Return Than Common Shares

• Gladstone has a diversified portfolio consisting of office and industrial properties with near 100% rent collection levels.
• With stagnant earnings growth and lack of meaningful dividend coverage, the common stock does not offer great investment return prospects.
• In contrast to the common stock, the preferred stock is a much lower volatility investment with strong coverage and just a slightly lower yield.
• The preferred stocks yield higher than comparable investment options.
• Industrial real estate is expected to benefit from e-commerce due to the accelerated adoption of online shopping, while office real estate is expected to face headwinds due to remote working.

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