O - Gladstone Commercial: Solidified For The Future

2024-05-10 06:17:07 ET

Summary

• Gladstone Commercial has successfully transitioned from a 60% office portfolio to better property types while maintaining FFO.
• The company has outperformed peers with a total return of 39% over the past 52 weeks.
• Strong underwriting, mission-critical properties, and a shareholder-aligned culture have contributed to Gladstone Commercial's success.

Gladstone Commercial ( GOOD ) has been faced with the difficult task of transitioning from a 60% office portfolio into better property types, and they have had to do it at a time when interest rates are rising. It was a daunting task and much of the market thought they would fail either through debt piling up or substantial loss in FFO/share.

As data comes out, GOOD is making it further and further through the transition while maintaining FFO. Results coming in well above expectations have led to GOOD dramatically outperforming peers with a total return of 39% over the past 52 weeks compared to the popular triple net REIT, Realty Income ( O ), which came in at -7%....

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