Stock fact sheet · data as of
Gladstone Commercial Corp Pref (GOODN): fair value, margin of safety and Wheel Score
Real Estate · REIT - Diversified · United States · High Yield Income
Is GOODN undervalued?
Gladstone Commercial Corp Pref (GOODN) closed at 20.04 on 16 Oct 2026, close to the GLS average fair value of 19.49 (2.8% above fair value). 3 of the 9 models that produced a number sit above the price, 6 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
There is a wide gap between Lynch (3.24) and DCF (59.88). 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.
The nightly engine files GOODN under High Yield Income: a dividend yield above 4%.
Nine valuation models for GOODN
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 | 59.88 | +199% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 6.12 | -69% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 13.08 | -35% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 3.24 | -84% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 5.21 | -74% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 27.49 | +37% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 33.72 | +68% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 17.66 | -12% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 9.01 | -55% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -27.15 | -236% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Gladstone Commercial Corp Pref scores 7 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. A GLS Moat score of 3.4/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
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 12.3%. 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 9.49% (payout ratio 282%) - 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 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 1.6% |
|---|---|---|---|
| GLS Moat | 3.4 / 10 | ROE | 5.6% |
| Debt / equity | 2.51 | ROA | 1.5% |
| Free-cash-flow yield | 12.3% | Payout ratio | 282% |
| Institutions | 5 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 39: No options
No options are listed on Gladstone Commercial Corp Pref in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 39) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 4k shares a day on a market cap of $625M, with a beta of 1.07; the Stability part of the Wheel Score gives that 7 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 11 / 25 | -3% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 5 / 15 | moat 3.4/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 7 / 20 | 4k shares/day, $625M cap, beta 1.07 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 3 Nov 2026 (after the close), 18 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium. The shares go ex-dividend on 23 Oct 2026 (0.1380 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 Corp Pref 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 |
|---|---|---|---|---|---|
| GOOD Gladstone Commercial Corporation | 12.64 | 17.57 | +28% | 67Good | $612M |
| JBGS JBG SMITH Properties | 11.08 | 8.93 | -24% | 45Weak | $649M |
| AHRT AH Realty Trust, Inc. | 5.97 | 20.83 | +71% | 45Weak | $573M |
| GOODO Gladstone Commercial Corporation | 17.91 | 19.13 | +6% | 39No options | $552M |
| CTO CTO Realty Growth, Inc. | 20.60 | 23.29 | +12% | 61Fair | $772M |
| CMRF CIM Real Estate Finance Trust, Inc. | 1.83 | 3.56 | +49% | 39No options | $796M |
| OLP One Liberty Properties, Inc. | 22.13 | 22.47 | +1% | 56Fair | $483M |
| ESRT Empire State Realty Trust, Inc. | 4.73 | 5.15 | +8% | 69Good | $814M |
| SAFE Safehold Inc. | 11.55 | 16.42 | +30% | 73Good | $818M |
| FVR FrontView REIT, Inc. | 17.10 | 10.38 | -65% | 27No options | $418M |
| INRE Inland Real Estate Income Trust, Inc. | 10.50 | 7.98 | -32% | 11No options | $379M |
| SCCE Sachem Capital Corp. 6.00% Note | 24.50 | 19.47 | -26% | 18No options | $1.1B |
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Start free See the Sunday ScanQuestions about GOODN
Is GOODN undervalued right now?
Not meaningfully: at 20.04 the stock trades within a few percent of the GLS average fair value of 19.49 (2.8% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of GOODN and what does it mean?
GOODN has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for GOODN?
19.49 per share as of 16 Oct 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 Corp Pref report earnings next?
The next earnings report is due on 3 Nov 2026 (after the close), 18 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does GOODN have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on GOODN, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.