Sector Alpha Week of 2026-08-05
Sector Alpha — machine-written from the numbers · Data as of 2026-08-05

Gladstone Commercial Corporation

GOOD
Real Estate · REIT - Diversified

Gladstone Commercial Corporation's price has outrun its earnings. −3.5% in a year against EPS −48.1% — the market is paying now for delivery later.

The sharpest disagreement: the price moved −3.5% in a year while annual EPS moved −48.1% — the difference is re-rating, and re-rating has to be repaid with earnings.

The price is between stages while the P/E sits at the 67th percentile of its own 1-year range. Underneath, the last four quarters read mixed — profit +0.0% year on year, and 440% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.

Price
$12.6
−3.5% 1Y
P/E
70.7×
67th pctile
of its own 1-year range
Revenue (Mar 26)
$0.0 B
+0.0% YoY
Profit (Mar 26)
$0.0 B
+0.0% YoY
Operating margin
50.0%
+25.0 pp YoY
ROE
6%
FY25
ROIC
3.5%
vs WACC 6.6% → −3.1 pp
Cash conversion
440%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Gladstone Commercial Corporation trades at $12.6, between stages. That is +5.7% against its own 200-day average. It sits at 70% of a 52-week range of $11 to $13. On relative strength it is currently behind the S&P 500 on a trailing-13-week view (13 weeks and counting).

Today the stock is between stages. At $12.6 it trades +5.7% versus its 200-day average and sits at 70% of its 52-week range ($11–$13).

Aug 26: $12.6 Weekly closing price ($) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 1-year window.
+5.7% versus the 200-day line, week — of stage —
Price50-day avg200-day avg
$14.3$13.3$12.3$11.3$10.3$$13$12Jul 25Oct 25Jan 26May 26Aug 26
$14.3$13.3$12.3$11.3$10.3$$13$12Jul 25Jan 26Aug 26
Beating or trailing, week by week since 2025 Each cell is one week from 2025 to now (57 weeks): the stock's trailing 13-week return minus the S&P 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the S&P 500 reading is not held.
trailing 13-week return vs the S&P 500
Jul 25Aug 26

Against the market, two honest reads. Cumulative: over the last 1.1 years the stock moved −10% while the S&P 500 moved +24% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (13 weeks and counting; last ahead the week of 2026-05-08) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of $1 of annual profit: how many dollars the market pays for each dollar the company earns in a year.

Gladstone Commercial Corporation trades at 70.7× P/E, mid-range by its own standards (67th percentile). Its long-run median P/E is 68.4×, measured across 1.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 70.7× is mid-range by its own standards (67th percentile), against a long-run median of 68.4× measured over 1.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 70.7× vs a 68.4× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly step line (right axis). 1.1-year window; loss-period spikes above 89× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (67th percentile)
P/EMedianEPS (TTM) (quarterly)
93.6×$0.477.6×$0.361.7×$0.245.7×$0.129.8×$0.0×$69.78×$0Jul 25Oct 25Jan 26May 26Aug 26
93.6×$0.477.6×$0.361.7×$0.245.7×$0.129.8×$0.0×$69.78×$0Jul 25Jan 26Aug 26
P/E
70.7×
67th percentile of 1y
PEG
11.21
as reported

🚨 Why the multiple sits where it does: over the past year annual EPS moved −48.1% against a −3.5% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Gladstone Commercial Corporation reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 12 quarters across 2 curves, on partial evidence.

Growth, year by year: revenue +6.7% in FY25, profit +0.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
7.7%8.0%5.6%−21%3.5%−50%1.5%−79%−0.6%−108%%%6.7%0%FY21FY23FY25
7.7%8.0%5.6%−21%3.5%−50%1.5%−79%−0.6%−108%%%6.7%0%FY21FY23FY25
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising
RevenueProfitEPS
7.2%132%5.3%16%3.4%−100%1.4%−216%−0.5%−332%%%0%−33.3%−37.9%Jun 23Sep 24Mar 26
7.2%132%5.3%16%3.4%−100%1.4%−216%−0.5%−332%%%0%−33.3%−37.9%Jun 23Sep 24Mar 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
12%11%10%9.3%8.6%%9.7%Jun 23Dec 23Sep 24Jun 25Mar 26
12%11%10%9.3%8.6%%9.7%Jun 23Sep 24Mar 26
Revenue growth
Stuck low
latest +0.0% · span +0.0% to +6.7%
ROCE
Stuck low
latest 9.7% · span 8.8%–11.4%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; stock price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+6.7%+2.2%
Profit+0.0%+26.0%
EPS−48.1%
Stock price−3.5%
Revenue YoY (Mar 26)
+0.0%
latest quarter vs a year ago
Profit YoY (Mar 26)
+0.0%
latest quarter vs a year ago
Revenue 10y
3.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

43.9/100 — rank 7 of 13 in REIT - Diversified · 70% evidence confidence

Gladstone Commercial Corporation scores 43.9 out of 100 against the 13 companies it is compared with in REIT - Diversified, ranking 7. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 15.8 + 15.1 + 4.2 + 8.8 = 43.9. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if ROA rolls over or gross NPA rises while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Gladstone Commercial Corporation reported $0.0 B of revenue in the Mar 26 quarter, +0.0% year on year. Over 4 years it has compounded at 3.4% a year. The last full year, FY25, came in at $0.2 B. The last four reported quarters add to $0.2 B.

FY25 revenue came in at $0.2 B (+6.7% on the year), capping 4 years at 3.4% compound. The latest quarter (Mar 26) printed $0.0 B, +0.0% year on year.

FY25 revenue $0.2 B (+6.7% YoY) Revenue bars, $ B (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
3.4% a year over 4 years
RevenueYoY growth
0.177.7%0.135.6%0.093.5%0.041.5%0.00−0.6%$ B%$0B6.7%FY21FY23FY25
0.177.7%0.135.6%0.093.5%0.041.5%0.00−0.6%$ B%$0B6.7%FY21FY23FY25
Mar 26: $0.0 B (+0.0% YoY) Quarterly revenue bars, $ B (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
0.041.2%0.030.6%0.020.0%0.01−0.6%0.00−1.2%$ B%$0B0%Jun 23Sep 24Mar 26
0.041.2%0.030.6%0.020.0%0.01−0.6%0.00−1.2%$ B%$0B0%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +0.0% growth against the decade's 3.4% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +0.0% over the last 4 quarters against +0.0%/yr over the last 8 — stabilising.

06 · Operating margin

Operating margin Operating margin is what is left of every $100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Gladstone Commercial Corporation's operating margin is 50.0% in the Mar 26 quarter, +25.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 5 fiscal years the operating margin has ranged 66.7% to 75.0%. The current quarter is running below every full year in that window.

The latest quarter's operating margin is 50.0%, +25.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 66.7%–75.0%, and FY25's 75.0% is the top of that band — a record year.

Why the margin moved: operating margin went +25.0 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY25: 75.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 5-year window.
the widest a 66.7–75.0% band over 5 years
operating marginYoY change (pp)
76%7.5%73%4.2%71%0.9%68%−2.3%66%−5.6%%%75%1.7%FY21FY23FY25
76%7.5%73%4.2%71%0.9%68%−2.3%66%−5.6%%%75%1.7%FY21FY23FY25
Mar 26: 50.0% operating margin (+25.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
79%31%65%9.3%50%−13%36%−34%21%−56%%%50%25%Jun 23Sep 24Mar 26
79%31%65%9.3%50%−13%36%−34%21%−56%%%50%25%Jun 23Sep 24Mar 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Gladstone Commercial Corporation earned $0.0 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $0.0 B. The 4-year compound rate is 18.9%. That is 25.0% of the quarter's revenue. The same quarter a year earlier earned $0.0 B.

Mar 26 profit was $0.0 B, +0.0% year on year. On the full year, FY25 printed $0.0 B (+0.0%), and the 4-year compound rate is 18.9%.

FY25 profit $0.0 B (+0.0% YoY) Net profit bars, $ B (left); YoY growth-% line (right). 5-year window. A bar is red when it is lower than the year before.
18.9% a year over 4 years
Net profitYoY growth
0.0228.0%0.016−21%0.011−50%0.005−79%0.000−108%$ B%$0B0%FY21FY23FY25
0.0228.0%0.016−21%0.011−50%0.005−79%0.000−108%$ B%$0B0%FY21FY23FY25
Mar 26: $0.0 B (+0.0% YoY) Quarterly net profit bars, $ B (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
0.0118.0%0.008−21%0.005−50%0.003−79%0.000−108%$ B%$0B0%Jun 23Sep 24Mar 26
0.0118.0%0.008−21%0.005−50%0.003−79%0.000−108%$ B%$0B0%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +0.0% and the margin +25.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −33.3% vs revenue +0.0%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 440% of Gladstone Commercial Corporation's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was $0.1 B of operating cash against $0.0 B of profit. After $0.2 B of capital spending, $−0.1 B was left as free cash.

FY25: operating cash of $0.1 B against reported profit of $0.0 B, leaving free cash of $−0.1 B after $0.2 B of capital spending. Across the last 3 fiscal years the conversion rate is 440% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY25: CFO $0.1 B vs profit $0.0 B Operating cash flow and net profit by fiscal year, $ B; the line is free cash flow (CFO minus capital spending). 5-year window, annual resolution.
440% of 3-year profit arrived as cash
Operating cashNet profitFree cash
0.110.04−0.03−0.09−0.16$ B$0B$0B$−0BFY21FY23FY25
0.110.04−0.03−0.09−0.16$ B$0B$0B$−0BFY21FY23FY25
Mar 26: operating cash $0.0 B = 200% of the quarter's profit Operating cash per quarter, $ B (bars); conversion = operating cash as % of net profit (line, right). Last 12 quarters. Dashed line = 100%.
Operating cash (quarterly)Conversion100%
0.04208%0.03179%0.02150%0.01121%0.0092%$ B%$0B200%Jun 23Sep 24Mar 26
0.04208%0.03179%0.02150%0.01121%0.0092%$ B%$0B200%Jun 23Sep 24Mar 26

Why: conversion is measured cleanly, but the working-capital day-counts behind it sit below what we hold — the move is shown without inventing its driver.

Router verdict: the visible cash user is investment — the next section checks what the spending is buying.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Gladstone Commercial Corporation does not report the debtor, inventory and payable day-counts a cash cycle is built from, so this section reads the investment side instead. Capital spending ran $0.0 B over the last 3 years. Averaged over those years that is 0.0% of FY25 revenue a year.

Working-capital day-counts are not in our numbers for this stock, so this section reads the investment side — where the cash is being put to work.

On the investment side: capital spending of $0.0 B over the last 3 fiscal years.

FY25: capex $0.2 B Capital spending per fiscal year, $ B (bars).
steady investment
Capex
0.250.190.120.060.00$ B$0BFY21FY23FY25
0.250.190.120.060.00$ B$0BFY21FY23FY25
Mar 26: capex $0.0 B in the quarter Capital spending per quarter, $ B (bars, left); free cash flow, $ B (line, right). Last 12 quarters.
Capex (quarterly)Free cash
0.100.030.070.000.05−0.020.02−0.040.00−0.07$ B$ B$0B$0BJun 23Sep 24Mar 26
0.100.030.070.000.05−0.020.02−0.040.00−0.07$ B$ B$0B$0BJun 23Sep 24Mar 26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

10 · Return on equity

Return on equity Return on equity (ROE) is the profit the business earns on its shareholders’ money. With the full capital-employed split not in our numbers, ROE is the cleanest long ladder we can draw here.

Gladstone Commercial Corporation earns a ROE of 6% in FY25. That is up from a trough of 0% in FY23. Return on invested capital clears the cost of that capital by −3.1 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 12.5% net margin on 0.13× asset turns.

FY25 ROE is 6%, recovered from a FY23 trough of 0% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY25): 12.5% net margin × 0.13× asset turns × 3.68× balance-sheet leverage ≈ 6.0% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 3.5% − 6.6% = a −3.1 pp spread. The 6.6% is an estimate of this company's own cost of capital — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY25: ROE 6% Return on equity by fiscal year, % (line); ROIC by fiscal year, % (line). 5-year window, dips included. Dashed line = the 6.6% cost of capital used on this page.
the climb back from FY23's 0%
ROEROIC (annual)WACC
11%8.1%5.2%2.2%−0.8%%5.9%10.3%FY21FY23FY25
11%8.1%5.2%2.2%−0.8%%5.9%10.3%FY21FY23FY25
Mar 26: ROIC 9.1% (TTM) vs WACC 6.6% Trailing-twelve-month ROIC and ROE, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROIC (TTM)ROE (TTM)WACC
11%7.9%5.4%2.8%0.2%%9.1%6.2%Jun 23Sep 24Mar 26
11%7.9%5.4%2.8%0.2%%9.1%6.2%Jun 23Sep 24Mar 26
11 · Dividend

Dividend A dividend is cash paid out per share. Dividend per share is the declared amount for the period; the trailing twelve-month total is the four most recent quarters added together.

Gladstone Commercial Corporation paid $1.20 per share over the last four reported quarters, down 20.3% on a year ago. The most recent declaration was $0.30 for Mar 26. Against the current price of $12.6 that is a trailing yield of 9.55%, measured on dividends already paid rather than on a forecast.

Gladstone Commercial Corporation paid $1.20 per share across the last four reported quarters, most recently $0.30 for Mar 26. That is down 20.3% against the same quarter a year earlier. Against the current price of $12.6 the trailing twelve months work out to 9.55% — trailing dividends measured against today's price, not a forward estimate.

Dividend per share by quarter Declared dividend per share, $ B, per reported quarter. 12 quarters on file.
latest $0.30 (Mar 26)
Dividend per share
0.320.240.160.080.00$ B$0BJun 23Dec 23Sep 24Jun 25Mar 26
0.320.240.160.080.00$ B$0BJun 23Sep 24Mar 26
12 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Gladstone Commercial Corporation carries total debt of $0.8 B against shareholder equity of $0.3 B as of Mar 26, a debt-to-equity of 2.55. On the annual view that ratio went from 1.92 in FY21 to 2.50 in FY25. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of $0.8 B against shareholder equity of $0.3 B — a debt-to-equity of 2.55. On the annual view, debt-to-equity went from 1.92 (FY21) to 2.50 (FY25). Read the returns on this page with that leverage in mind.

FY25: debt $0.8 B at 2.50× equity Total debt by fiscal year, $ B (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
0.92.5×0.72.4×0.52.2×0.22.0×0.01.9×$ B×$1B2.50×FY21FY23FY25
0.92.5×0.72.4×0.52.2×0.22.0×0.01.9×$ B×$1B2.50×FY21FY23FY25
Mar 26: debt $0.8 B, debt-to-equity 2.55 Total debt per quarter, $ B (bars); debt-to-equity, × (line). Last 12 quarters.
Total debt (quarterly)Debt-to-equity
0.92.6×0.72.4×0.52.3×0.22.2×0.02.0×$ B×$1B2.55×Jun 23Sep 24Mar 26
0.92.6×0.72.4×0.52.3×0.22.2×0.02.0×$ B×$1B2.55×Jun 23Sep 24Mar 26
13 · Ownership

Ownership There is no quarter-by-quarter holder register to read here, so we read the crowd through short interest — the slice of tradable shares currently sold short, positioned for a fall.

7.5% of Gladstone Commercial Corporation's tradable float is currently sold short — some money is positioned against it. At typical trading volumes those positions would take about 6.4 days to buy back. There is no quarter-by-quarter holder register to read for this filer, so the crowd is read through short interest instead.

The latest reading: 7.5% of the float is sold short, and at typical trading volumes it would take about 6.4 days to buy those positions back. Some money is positioned against it. This is a single point-in-time reading — we do not yet hold its history, so we show no trend chart.

Short interest
7.5%
of the tradable float
Days to cover
6.4
at typical volumes

Why it sits there: who is doing the shorting, and why, does not travel with the number — the level is shown without inventing its story.

14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Gladstone Commercial Corporation: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

15 · Related companies · REIT - Diversified
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1CTO Realty Growth, Inc.CTO 57.4/100Mixed-positive evidence60% evidence TURNING 19.8/35 Income — · PAT — 26% evidence 11.8/25 ROA 0.8% · ROE 2.4% · GNPA — 68% evidence 8.0/20 P/BV 1.22× · P/BV÷ROE 0.51 70% evidence 17.8/20 RS sector 13.4% · RS bench 4.8% · 1Y 33.7%3 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 11.8 + 8 + 17.8 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2One Liberty Properties, Inc.OLP 54.4/100Mixed-positive evidence70% evidence TURNING 18.2/35 Income 10.9% · PAT -6.7% 71% evidence 17.1/25 ROA 1.6% · ROE 2.1% · GNPA — 68% evidence 6.3/20 P/BV 1.52× · P/BV÷ROE 0.72 70% evidence 12.8/20 RS sector 6.4% · RS bench -1.9% · 1Y 8.4%0 of 12 weeks ahead 70% evidence
Exact sum: 18.2 + 17.1 + 6.3 + 12.8 = 54.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
3Safehold Inc.SAFE 50.5/100Thin evidence · provisional54% evidence TURNING 16.8/35 Income — · PAT — 26% evidence 13.2/25 ROA 1.1% · ROE 1.4% · GNPA — 68% evidence 8.6/20 P/BV 0.46× · P/BV÷ROE 0.33 70% evidence 11.9/20 RS sector 6% · RS bench -2.3% · 1Y 17.2%4 of 12 weeks ahead 70% evidence
Exact sum: 16.8 + 13.2 + 8.6 + 11.9 = 50.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4Broadstone Net Lease, Inc.BNL 49.9/100Mixed-negative evidence60% evidence TURNING 18.6/35 Income — · PAT — 26% evidence 12.1/25 ROA 0.9% · ROE 1.3% · GNPA — 68% evidence 5.3/20 P/BV 1.38× · P/BV÷ROE 1.06 70% evidence 13.9/20 RS sector 7.3% · RS bench -0.9% · 1Y 25.9%3 of 12 weeks ahead 100% evidence
Exact sum: 18.6 + 12.1 + 5.3 + 13.9 = 49.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5American Assets Trust, Inc.AAT 49.8/100Mixed-negative evidence60% evidence LEADER 16.6/35 Income — · PAT — 26% evidence 11.7/25 ROA 0.9% · ROE 0.6% · GNPA — 68% evidence 4.3/20 P/BV 1.35× · P/BV÷ROE 2.25 70% evidence 17.2/20 RS sector 9.9% · RS bench 1.4% · 1Y 22.9%12 of 12 weeks ahead 100% evidence
Exact sum: 16.6 + 11.7 + 4.3 + 17.2 = 49.8 · Decision use: Price leads the evidence: RS versus the benchmark is 1.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6FrontView REIT, Inc.FVR 44.5/100Thin evidence · provisional53% evidence BREAKING OUT 17.0/35 Income — · PAT — 22% evidence 6.7/25 ROA 0.4% · ROE 0.1% · GNPA — 68% evidence 3.8/20 P/BV 0.83× · P/BV÷ROE 8.31 70% evidence 17.0/20 RS sector 21% · RS bench 11.9% · 1Y 64.3%9 of 12 weeks ahead 70% evidence
Exact sum: 17 + 6.7 + 3.8 + 17 = 44.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Gladstone Commercial Corporationthis pageGOOD 43.9/100Mixed-negative evidence70% evidence BASING 15.8/35 Income 9.9% · PAT -19.2% 71% evidence 15.1/25 ROA 1.4% · ROE 2% · GNPA — 68% evidence 4.2/20 P/BV 3.41× · P/BV÷ROE 1.71 70% evidence 8.8/20 RS sector 1.5% · RS bench -6.5% · 1Y -4%0 of 12 weeks ahead 70% evidence
Exact sum: 15.8 + 15.1 + 4.2 + 8.8 = 43.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8VICI Properties Inc.VICI 40.7/100Mixed-negative evidence60% evidence BASING 13.9/35 Income — · PAT — 26% evidence 16.0/25 ROA 1.6% · ROE 1.9% · GNPA — 68% evidence 7.4/20 P/BV 1× · P/BV÷ROE 0.53 70% evidence 3.4/20 RS sector -11.1% · RS bench -18.2% · 1Y -19.2%0 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 16 + 7.4 + 3.4 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9W. P. Carey Inc.WPC 40.1/100Mixed-negative evidence60% evidence BASING 16.5/35 Income — · PAT — 26% evidence 12.6/25 ROA 0.8% · ROE 2.2% · GNPA — 68% evidence 5.6/20 P/BV 1.88× · P/BV÷ROE 0.85 70% evidence 5.4/20 RS sector 0.4% · RS bench -7.3% · 1Y 9.8%0 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 12.6 + 5.6 + 5.4 = 40.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Global Net Lease, Inc.GNL 38.4/100Thin evidence · provisional55% evidence BASING 19.8/35 Income -14.8% · PAT — 45% evidence 6.5/25 ROA 0.4% · ROE -0.3% · GNPA — 68% evidence 9.8/20 P/BV 1.27× · P/BV÷ROE — 10% evidence 2.3/20 RS sector -5.2% · RS bench -12.5% · 1Y 11.6%0 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 6.5 + 9.8 + 2.3 = 38.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11AH REALTY TRUST INCAHRT 44.7/100Thin evidence · provisional41% evidence BREAKING OUT 12.5/35 Income -39.7% · PAT -210% 29% evidence 8.8/25 ROA — · ROE -3.7% · GNPA — 34% evidence 9.8/20 P/BV 0.74× · P/BV÷ROE — 10% evidence 13.6/20 RS sector 4.2% · RS bench -4% · 1Y 2.2%9 of 12 weeks ahead 100% evidence
Exact sum: 12.5 + 8.8 + 9.8 + 13.6 = 44.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12JBG SMITH PropertiesJBGS 33.8/100Thin evidence · provisional49% evidence ASLEEP 15.7/35 Income -3.3% · PAT — 45% evidence 5.3/25 ROA -0.2% · ROE -1.3% · GNPA — 68% evidence 9.8/20 P/BV 0.75× · P/BV÷ROE — 10% evidence 3.0/20 RS sector -31.6% · RS bench -37.2% · 1Y -38.7%0 of 12 weeks ahead 70% evidence
Exact sum: 15.7 + 5.3 + 9.8 + 3 = 33.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Empire State Realty Trust, Inc.ESRT 31.9/100Thin evidence · provisional42% evidence ASLEEP 13.1/35 Income — · PAT — 26% evidence 5.2/25 ROA -3.3% · ROE -2.2% · GNPA — 68% evidence 9.8/20 P/BV 0.84× · P/BV÷ROE — 10% evidence 3.8/20 RS sector -23.9% · RS bench -30.1% · 1Y -31.2%0 of 12 weeks ahead 70% evidence
Exact sum: 13.1 + 5.2 + 9.8 + 3.8 = 31.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Gladstone Commercial Corporation's stock price today?

Gladstone Commercial Corporation trades at $12.6, −3.5% over the past year. The company is valued at $1.0 B. The stock sits at 70% of its 52-week range of $11–$13, +5.7% versus its 200-day average. Against the S&P 500 it has been behind on a trailing-13-week view for 13 weeks. — as of 5 August 2026.

What were Gladstone Commercial Corporation's latest quarterly results?

Gladstone Commercial Corporation reported revenue of $0.0 B and net profit of $0.0 B for the Mar 26 quarter. Revenue rose 0.0% and profit rose 0.0% year on year. Earnings per share were $0.08. The operating margin was 50.0%, 25.0 pp higher than a year earlier. — as of 5 August 2026.

What is Gladstone Commercial Corporation's revenue?

Gladstone Commercial Corporation reported revenue of $0.0 B in the Mar 26 quarter, +0.0% year on year. For the full FY25 fiscal year, revenue was $0.2 B (+6.7%). Over the last 4 years revenue compounded at 3.4% a year. — as of 5 August 2026.

What is Gladstone Commercial Corporation's profit?

Gladstone Commercial Corporation earned $0.0 B of net profit in the Mar 26 quarter, +0.0% year on year. Full-year FY25 profit was $0.0 B. The operating margin ran 50.0% in the latest quarter. — as of 5 August 2026.

What is Gladstone Commercial Corporation's market cap?

Gladstone Commercial Corporation's market capitalisation is $1.0 B at a stock price of $12.6. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 5 August 2026.

What is Gladstone Commercial Corporation's P/E ratio?

Gladstone Commercial Corporation trades at a P/E of 70.7×, at the 67th percentile of its own 1-year range, against a long-run median of 68.4×. This is a comparison with the stock's own history, not a value call — as of 5 August 2026.

Does Gladstone Commercial Corporation pay a dividend?

Yes — Gladstone Commercial Corporation declared $0.30 per share for Mar 26, and $1.20 per share across the last four reported quarters. The latest quarter is down 20.3% on the same quarter a year earlier. — as of 5 August 2026.

What is Gladstone Commercial Corporation's dividend per share?

Gladstone Commercial Corporation's most recently declared dividend is $0.30 per share for Mar 26, giving $1.20 per share over the trailing twelve months. Each figure is the amount declared for that quarter as reported, added across four quarters for the trailing total. — as of 5 August 2026.

What is Gladstone Commercial Corporation's dividend yield?

Gladstone Commercial Corporation's trailing dividend yield is 9.55%: $1.20 declared per share across the last four reported quarters, against a share price of $12.6. Each quarter’s figure is the amount declared for that quarter as reported, added across four quarters and divided by the latest close. — as of 5 August 2026.

Is Gladstone Commercial Corporation overvalued?

On its own history, Gladstone Commercial Corporation looks expensive against its own history: its P/E of 70.7× sits at the 67th percentile of its 1-year range (long-run median 68.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 5 August 2026.

Is Gladstone Commercial Corporation growing?

The picture is mixed for Gladstone Commercial Corporation: latest-quarter revenue +0.0% year on year, profit +0.0%, and the margin +25.0 pp at 50.0%. The 4-year compound rates are 3.4% (revenue) and 18.9% (profit). The earnings engine currently reads: mixed — as of 5 August 2026.

How is Gladstone Commercial Corporation performing?

Gladstone Commercial Corporation's latest readings are below. Its latest quarter's revenue rose 0.0% and profit rose 0.0% year on year. Against the S&P 500 it has been behind on a trailing-13-week view for 13 weeks. This describes what the data did, not a rating. — as of 5 August 2026.

Is Gladstone Commercial Corporation beating the market?

Not lately — on a trailing-13-week view Gladstone Commercial Corporation is currently behind the S&P 500 (13 weeks and counting; last ahead the week of 2026-05-08), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.1 years the stock moved −10% against the S&P 500's +24% — behind the index over the full window. — as of 5 August 2026.

Will Gladstone Commercial Corporation's stock price go up?

This page publishes no price forecast for Gladstone Commercial Corporation. What it measures instead: the stock price is $12.6. Its P/E of 70.7× sits at the 67th percentile of its own 1-year range. Direction is not something this site claims to know. — as of 5 August 2026.

Is the market betting against Gladstone Commercial Corporation?

Somewhat — short interest is 7.5% of Gladstone Commercial Corporation's tradable float, about 6.4 days to cover at typical volumes. A moderate reading: some money is positioned against it. With no quarter-by-quarter holder register here, short interest is the cleanest crowd read we hold — as of 5 August 2026.

Does Gladstone Commercial Corporation have too much debt?

It carries real leverage — Gladstone Commercial Corporation's debt-to-equity is 2.53. A year-by-year borrowings ladder is not in our numbers for this stock, so the latest reading is the cleanest hold. Read the returns on this page with that leverage in mind — as of 5 August 2026.

What is Gladstone Commercial Corporation's capex?

Gladstone Commercial Corporation spent $0.0 B on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY25 alone that was $0.2 B. — as of 5 August 2026.

What is Gladstone Commercial Corporation's cash flow?

Gladstone Commercial Corporation generated $0.1 B of operating cash flow in FY25 and $−0.1 B of free cash flow after $0.2 B of capital spending. Reported profit that year was $0.0 B, so operating cash ran ahead of profit. — as of 5 August 2026.

Is Gladstone Commercial Corporation's profit real cash?

Yes — over the last 3 fiscal years, 440% of Gladstone Commercial Corporation's reported profit arrived as operating cash. In FY25, operating cash was $0.1 B against reported profit of $0.0 B. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 5 August 2026.

Where is Gladstone Commercial Corporation in its business cycle?

Gladstone Commercial Corporation's FY25 operating margin was 75.0%, against a 5-year band of 66.7%–75.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 50.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 5 August 2026.

What could break the Gladstone Commercial Corporation story?

The sharpest disagreement: the price moved −3.5% in a year while annual EPS moved −48.1% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 5 August 2026.

Is Gladstone Commercial Corporation a stock worth studying right now?

This is not investment advice. The machine read: Gladstone Commercial Corporation's price has outrun its earnings. −3.5% in a year against EPS −48.1% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 5 August 2026.

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