Dane Bowler
Value, hedge fund analyst, REITs, long/short equity

Optimizing Triple Net Lease REIT Investment Part 2: Dividends With Gladstone Commercial

In Part 1 of this series, we posited that there are too many dollars chasing too few properties in the triple net sector. We concluded that such an environment would be particularly dangerous to overpriced companies such as Realty Income (NYSE:O). Recognizing that the steady income stream investors get from triple net REITs is valuable, we suggested Gladstone Commercial (NASDAQ:GOOD) as the ideal replacement. This article will be dedicated to the fundamental analysis of GOOD in which we will demonstrate it to be well positioned to outperform both its sector and the broader market.

Historical performance

Since its IPO in 2003, Gladstone Commercial has substantially underperformed in the market.

(click to enlarge)

Over the same period...

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