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Stock impact report

Gladstone Commercial Skillfully Navigated Their Transformation [Seeking Alpha]

Gladstone Commercial Corporation - Real Estate Investment Trust (GOOD) 
Last gladstone commercial corporation - real estate investment trust earnings: 4/28 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.gladstonecommercial.com
Company Research Source: Seeking Alpha
GOOD's patient transition from office to 70% industrial assets limited AFFO/share decline to only 9%, outperforming peers LXP and SLG. With embedded 3% annual lease escalators and a 7.5-year WALT, GOOD is positioned for 1%-2% AFFO/share growth and improved portfolio stability. I see fair value at $15.25 per share (14X AFFO), nearly 50% upside, though variable rate debt and a high dividend payout ratio present risks. Looking for a portfolio of ideas like this one? Members of Portfolio Income Solutions get exclusive access to our subscriber-only portfolios. Learn More » Luis Alvarez/DigitalVision via Getty Images The Buy Thesis Gladstone Commercial ( GOOD ) is trading at a multiple that is far too low for its quality of earnings. Specifically, a 9X multiple implies low quality earnings or high risk while GOOD's cashflows are quite durable. I believe the market is missing 2 key aspects of GOOD: Property quality (post transition) Tenant quality In this article we will Show less Read more
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