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Gladstone Commercial (GOOD) Announces New Lease With Lyseon
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Gladstone Commercial Corporation (GOOD - Free Report) is witnessing robust demand for its properties from existing as well as new tenants. The company recently clinched a 12.5-year lease for an industrial property, with Lyseon North America, Inc.
The 238,312-square-foot industrial facility is located at 1110 Tenkiller Road at The Tulsa Port of Catoosa, outside of Tulsa, OK. The lease will commence through Dec 31, 2033.
Lyseon, a wholly-owned subsidiary of Topia Co., LTD, will use the facility for manufacturing in support of the contract with Navistar's subsidiary IC bus, which recently announced a 20-year commitment to Tulsa.
Apart from this, Gladstone Commercial has clinched a six-year lease extension with Yanfeng US Automotive Interior Systems LLC at an industrial property in Monroe, MI, a suburb of Detroit. The move is likely to help the company secure steady cash flows from the property. It will receive more than $10 million in contractual rental revenues during the extension term.
Gladstone Commercial focuses on achieving growth on buyouts of high-quality industrial assets in the thriving markets with creditworthy tenants. As part of such measures, Gladstone Commercial has also acquired a 25,200-square-foot industrial service facility in Baytown for $8.125 million.
Moreover, Gladstone Commercial’s rent collections have been healthy. In its recent business update, the company noted that approximately 100% of the June cash base rents have been paid and collected. Also, as of Jun 30, 2021, portfolio occupancy is in excess of 95%.
Gladstone Commercial currently carries a Zacks Rank #3 (Hold). The stock has gained 25.1%, outperforming its industry’s rally of 23.3% in the past six months.
Image Source: Zacks Investment Research
Stocks to Consider
Geo Group Inc The (GEO - Free Report) sports a Zacks Rank of 1 (Strong Buy), at present. The Zacks Consensus Estimate for the ongoing year’s FFO per share has been revised marginally upward to 29 cents over the past month. You can see thecomplete list of today’s Zacks #1 Rank stocks here.
Mack-Cali Realty Corporation’s Zacks Consensus Estimate for 2021 FFO per share has moved 1.8% north to 57 cents over the past month. The company currently carries a Zacks Rank of 2 (Buy).
Braemar Hotels & Resorts’s (BHR - Free Report) Zacks Consensus Estimate for 2021 FFO per share has moved up 4.5% to 46 cents over the past month. The company currently carries a Zacks Rank of 2.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Gladstone Commercial (GOOD) Announces New Lease With Lyseon
Gladstone Commercial Corporation (GOOD - Free Report) is witnessing robust demand for its properties from existing as well as new tenants. The company recently clinched a 12.5-year lease for an industrial property, with Lyseon North America, Inc.
The 238,312-square-foot industrial facility is located at 1110 Tenkiller Road at The Tulsa Port of Catoosa, outside of Tulsa, OK. The lease will commence through Dec 31, 2033.
Lyseon, a wholly-owned subsidiary of Topia Co., LTD, will use the facility for manufacturing in support of the contract with Navistar's subsidiary IC bus, which recently announced a 20-year commitment to Tulsa.
Apart from this, Gladstone Commercial has clinched a six-year lease extension with Yanfeng US Automotive Interior Systems LLC at an industrial property in Monroe, MI, a suburb of Detroit. The move is likely to help the company secure steady cash flows from the property. It will receive more than $10 million in contractual rental revenues during the extension term.
Gladstone Commercial focuses on achieving growth on buyouts of high-quality industrial assets in the thriving markets with creditworthy tenants. As part of such measures, Gladstone Commercial has also acquired a 25,200-square-foot industrial service facility in Baytown for $8.125 million.
Moreover, Gladstone Commercial’s rent collections have been healthy. In its recent business update, the company noted that approximately 100% of the June cash base rents have been paid and collected. Also, as of Jun 30, 2021, portfolio occupancy is in excess of 95%.
Gladstone Commercial currently carries a Zacks Rank #3 (Hold). The stock has gained 25.1%, outperforming its industry’s rally of 23.3% in the past six months.
Stocks to Consider
Geo Group Inc The (GEO - Free Report) sports a Zacks Rank of 1 (Strong Buy), at present. The Zacks Consensus Estimate for the ongoing year’s FFO per share has been revised marginally upward to 29 cents over the past month. You can see thecomplete list of today’s Zacks #1 Rank stocks here.
Mack-Cali Realty Corporation’s Zacks Consensus Estimate for 2021 FFO per share has moved 1.8% north to 57 cents over the past month. The company currently carries a Zacks Rank of 2 (Buy).
Braemar Hotels & Resorts’s (BHR - Free Report) Zacks Consensus Estimate for 2021 FFO per share has moved up 4.5% to 46 cents over the past month. The company currently carries a Zacks Rank of 2.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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