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Q2 25 EPS
$0.03
MISS 50.00%
Est. $0.06
Q2 25 Revenue
$39.5M
BEAT +3.17%
Est. $38.3M
vs S&P Since Q2 25
-15.6%
TRAILING MARKET
GOOD +0.4% vs S&P +16.0%
Market Reaction
Did GOOD Beat Earnings? Q2 2025 Results
Gladstone Commercial delivered a mixed second quarter for 2025, beating revenue expectations while falling short on the bottom line. The real estate investment trust posted revenue of $39.53 million, up 6.7% year over year and ahead of the $38.32 mil… Read more Gladstone Commercial delivered a mixed second quarter for 2025, beating revenue expectations while falling short on the bottom line. The real estate investment trust posted revenue of $39.53 million, up 6.7% year over year and ahead of the $38.32 million consensus estimate, yet earnings per share of $0.03 missed the $0.06 analyst forecast by 50%, with the shortfall driven largely by a 14.6% sequential surge in other expenses and higher interest costs on variable rate debt following $79.30 million in acquisitions during the quarter. On a non-GAAP basis, Core FFO came in at $0.35 per diluted share, reflecting stronger revenues tied to 2024 and 2025 acquisition activity. The company's 143-property portfolio closed the quarter at 98.7% occupancy, and management reported 100% cash rent collection through July. Looking ahead, Gladstone plans to continue recycling capital out of non-core office assets and redeploying proceeds into industrial properties in target growth markets, where same-store rents have been rising roughly 2% annually.
Key Takeaways
- • 100% cash rent collection during Q2 2025 and July 2025
- • Accretive real estate acquisitions made during 2024 and 2025
- • Same-store property occupancy growth to 98.7%
- • Capital recycling strategy — selling non-core assets and redeploying into target growth markets
- • Core FFO growth of 5.4% sequentially driven by higher revenues and lower net incentive fee
- • Same-store rent growth of approximately 2% annually
GOOD YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“Our financial results reflect consistent performance and stabilized revenues from our tremendous same store property occupancy, rent collection and growth, accretive real estate investments made during 2024 and 2025, our ability to renew tenants, and our deleveraging.”
— Buzz Cooper, Q2 2025 Earnings Press Release
GOOD Earnings Trends
GOOD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GOOD EPS Trend
Earnings per share: estimate vs actual
GOOD Revenue Trend
Quarterly revenue: estimate vs actual
GOOD Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 BEAT | $0.07 | $0.08 | +14.29% | $41.9M | -2.39% |
| Q4 25 BEAT FY | $0.02 | $0.05 | +150.00% | $43.5M | +5.41% |
| FY Full Year | — | $0.14 | — | $161.3M | — |
| Q3 25 MISS | $0.04 | $0.02 | -50.00% | $40.8M | +1.55% |
| Q2 25 MISS | $0.06 | $0.03 | -50.00% | $39.5M | +3.17% |
| Q1 25 MISS | $0.05 | $0.04 | -20.00% | $37.5M | +0.45% |