This company increased the distribution for investors during the fourth quarter. Gladstone Commercial Corp. (NASDAQ: GOOD) is focused on acquiring, owning and operating net leased industrial and office properties across the United States.
As of June 30, 2021, Gladstone owns a diversified portfolio of 121 office and industrial properties located in 27 states and leased to 106 tenants. The company has grown the portfolio in a consistent, disciplined manner at a rate of 18% per year since its IPO in 2003. It matches long-term leased properties with long-term debt to lock in the spread to create a durable, stable cash flow stream to fund monthly distributions to shareholders. Current occupancy stands at 96.5%, and occupancy has never dipped below 95.0% since 2003.
Most importantly for investors, Gladstone has a track record of success, as exhibited by a history of strong distribution yields, consistent occupancy greater than 95% and over 10 years of paying continuous monthly cash distributions.
Investors receive a 6.91% distribution. The $26 price target at Colliers Securities is a Wall Street high and looks to be going higher soon. The consensus target is $24.50. The last trade for Tuesday was reported at $21.09 a share.
Main Street Capital
This business development company offers investors a big dividend and has a long and successful track record. Main Street Capital Corp. (NASDAQ: MAIN) is a private equity firm specializing in equity capital to lower middle market companies. The firm specializes in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation and mature, later stage emerging growth. The firm also provides debt capital to middle market companies for acquisitions, management buyouts, growth financings, recapitalizations and refinancing.
Main Street Capital seeks to partner with entrepreneurs, business owners and management teams and generally provides “one-stop” financing alternatives within its lower middle market portfolio.
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