Stock fact sheet · data as of
Gladstone Commercial Corporation (GOOD): fair value, margin of safety and Wheel Score
Ticker symbol GOOD · Real Estate · REIT - Diversified · United States · Blend Income
Is GOOD undervalued?
At 10.89 (close of 5 Nov 2026), GOOD trades 31% below the GLS average fair value of 15.85. That average comes from 9 models run on the latest filings, and 4 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Gladstone Commercial Corporation the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between GLS Growth (1.14) and DCF (65.41). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for GOOD, so the nightly engine files it under Blend (value score 41, growth score 41, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for GOOD
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 65.41 | +501% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 6.79 | -38% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 5.09 | -53% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 1.26 | -88% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1.14 | -90% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 26.25 | +141% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 15.56 | +43% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 17.66 | +62% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 3.51 | -68% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -17.48 | -261% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 14.00 | +29% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Gladstone Commercial Corporation scores 6 of 9 on the Piotroski F-score: a middling result that passes the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability GOOD scores 5.6/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are thin or negative - ROIC 1.6%, ROE 5.6%, ROA 1.5% - with debt at 2.51 times equity and a free-cash-flow yield of 15.8%. Debt of 2.51 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 11.02% (payout ratio 456%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 7/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 1.6% |
|---|---|---|---|
| GLS Moat | 5.6 / 10 | ROE | 5.6% |
| Debt / equity | 2.51 | ROA | 1.5% |
| Free-cash-flow yield | 15.8% | Payout ratio | 456% |
| Institutions | 7 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 46: Weak
With a Wheel Score of 46 Gladstone Commercial Corporation sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (1,330 open interest, 51 a day); and filter 5, can repay its debt - 9.2 years to repay its debt (over 6); and filter 8, big enough - market cap $527M (under $1.0B); Option trading (weak) is its weakest part.
Implied volatility is 32% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is thin - 1,330 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 1.4M shares a day on a market cap of $527M, with a beta of 1.09; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (1,330 open interest, 51 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Fails | 9.2 years to repay its debt (over 6) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $527M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 31% below fair value | |
| Premium | Good | implied volatility 32% | |
| Moat | Fair | moat 5.6/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Weak | 51 contracts a day, 1,330 open interest | |
| Stability | Fair | beta 1.09, $527M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for GOOD in the nightly calendar. The shares go ex-dividend on 19 Nov 2026 (0.1000 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in REIT - Diversified
The 12 companies below are the closest to Gladstone Commercial Corporation by market cap within the REIT - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| GOODO Gladstone Commercial Corporation | 17.60 | 17.68 | +0% | 21No options | $527M |
| GOODN Gladstone Commercial Corp Pref | 19.18 | 18.11 | -6% | 21No options | $527M |
| OLP One Liberty Properties, Inc. | 21.94 | 16.58 | -32% | 27Weak | $479M |
| FVR FrontView REIT, Inc. | 19.30 | 24.50 | +21% | 26No options | $472M |
| AHRT AH Realty Trust, Inc. | 6.78 | 21.86 | +69% | 39Weak | $650M |
| JBGS JBG SMITH Properties | 12.29 | 8.93 | -38% | 29Weak | $720M |
| INRE Inland Real Estate Income Trust, Inc. | 10.30 | 7.98 | -29% | 11No options | $372M |
| SAFE Safehold Inc. | 10.77 | 17.27 | +38% | 41Weak | $763M |
| BSRT BSR Real Estate Investment Trust | 10.44 | 9.93 | -5% | 12No options | $355M |
| CTO CTO Realty Growth, Inc. | 20.46 | 27.48 | +26% | 36Weak | $793M |
| ESRT Empire State Realty Trust, Inc. | 5.27 | 4.72 | -12% | 30Weak | $907M |
| CMRF CIM Real Estate Finance Trust, Inc. | 2.35 | 3.47 | +32% | 29No options | $1.0B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about GOOD
Is GOOD undervalued right now?
By the GLS models, yes: at 10.89 the stock is 31% below the average fair value of 15.85 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of GOOD and what does it mean?
GOOD scores 46 out of 100 (Weak) - it fails Wheel Trade Filters 1, 5, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for GOOD?
15.85 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Gladstone Commercial Corporation report earnings next?
No upcoming earnings date is recorded for GOOD in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does GOOD have listed options, and how liquid are they?
Yes. The nightly snapshot found 16 listed contracts with 1,330 open interest across all expiries and implied volatility of 32% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.