<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg"/></p>
<p><em>图片来源：Pixabay</em></p>
<p>高收益股票支付的股息显著高于市场平均水平。例如，标准普尔 500 指数当前的收益率仅为约 1.2%。</p>
<p>高收益股票在退休后补充收入方面尤其有利。投资 12 万美元于平均股息收益率为 5% 的股票，每月可产生约 <strong>500 美元的股息</strong>。</p>
<p>我们创建了一份股息收益率为 5% 或更高的股票（以及相关的房地产投资信托、主有限合伙等）电子表格。</p>
<p>我们要审查的下一个高股息股票是 Gladstone Commercial Corporation（GOOD）。</p>
<h3><strong>业务概述</strong></h3>
<p>Gladstone Commercial Corporation 是一家房地产投资信托（REIT），专注于收购、拥有和管理美国各地的单租户和多租户净租赁办公及工业物业。公司成立于 2003 年，投资组合包括 151 个物业，分布在 27 个州，总面积约 1700 万平方英尺，租给超过 100 个租户。其战略强调与信用良好的租户签订长期租约，旨在实现稳定的收入和跨行业及地域的多样化。</p>
<p>该公司以通过每月现金分配向股东提供稳定收入而闻名，并保持高达 99.1% 的入住率（截至 2025 年中）。Gladstone Commercial 越来越关注工业资产，目前约占其年化租金的 67%，反映出其战略上逐渐远离非核心办公物业。这一重点使得该 REIT 能够实现稳定的租金收入和适度、可靠的增长，主要吸引寻求稳定性的收入导向型投资者。</p>
<p><em>(点击图片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.18.50-PM-768x588.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.18.50-PM-768x588.png"/></p>
<p><em>来源：投资者关系</em></p>
<p>Gladstone Commercial Corporation 报告了 2025 年第三季度的业绩，总运营收入为 4080 万美元，比上一季度增长 3.3%。可供普通股东的净收入为 100 万美元，或每股 0.02 美元，下降 32.5%；而核心 FFO 增长 1.8%，达到 1640 万美元，或每股 0.35 美元，主要受收购和租赁活动的推动。</p>
<p>在本季度，公司收取了 100% 的租金，收购了一个六个物业、693,236 平方英尺的投资组合，花费 5480 万美元，出售了一处非核心工业物业，售价 300 万美元，并在 14 个物业上完成了 734,464 平方英尺的租赁。它还通过市场股票计划筹集了 2300 万美元，并继续向股东进行每月现金分配。</p>
<p>在本季度结束后，Gladstone 将其信贷额度扩大至 6 亿美元，延长贷款到期，偿还了 310 万美元的抵押贷款，并保持了全额租金收取。这些举措强化了公司对稳定收入、严格资本管理和战略投资组合增长的关注。</p>
<p><em>(点击图片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.19.42-PM-768x588.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.19.42-PM-768x588.png"/></p>
<p><em>来源：投资者关系</em></p>
<h3><strong>增长前景</strong></h3>
<p>Gladstone Commercial 通过其对工业物业的战略关注，定位于稳定增长，这些物业目前占其年化租金的约 67%。通过收购完全租赁的长期工业资产并处置非核心办公物业，公司正在改善投资组合质量和现金流稳定性。</p>
<p>高入住率，接近 98-99%，以及较长的平均租赁期限支持稳定的租金收取并降低空置风险。</p>
<p>预计增长将适度但稳定。2025 年第三季度核心 FFO 增长 1.8%，达到 1640 万美元（每股 0.35 美元），反映出收购和租赁的贡献，尽管每股增长受到股权发行和成本上升的抑制。</p>
<p>主要风险包括更高的利率和办公部门的挑战。对于投资者而言，Gladstone 的吸引力在于可靠的收入和渐进的投资组合增长，而非快速扩张。</p>
<h3><strong>竞争优势与经济衰退表现</strong></h3>
<p>Gladstone Commercial 的竞争优势源于其专注于高质量、净租赁的工业和办公物业，租户信用良好且租期较长。这一战略确保了可预测的现金流并减少了租户流失，而其严格的收购方法则针对增长市场中的完全租赁物业。</p>
<p>该公司还在行业和地域上保持多样化的投资组合，降低集中风险，并在不同市场条件下提供稳定性。</p>
<p>该公司在经济衰退期间历史上表现出韧性，得益于其强大的租户基础、较长的租赁期限和净租赁结构，这将大部分物业费用转移给租户。</p>
<p>即使在经济放缓时期，入住率也保持在 98-99% 左右，使 Gladstone 能够维持现金分配和核心 FFO。这种稳定收入、多样化持有和保守的财务管理组合使得该 REIT 在经济衰退中表现优于许多同行。</p>
<p><em>(点击图片放大)</em></p>
<p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.26.41-PM-768x588.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.26.41-PM-768x588.png"/></p>
<p><em>来源：投资者关系</em></p>
<h3><strong>股息分析</strong></h3>
<p>该公司的年股息为每股 1.20 美元。根据其最近的股价，该股票的高收益率为 10.9%。</p>
<p>考虑到公司 2025 年的盈利前景，FFO 预计为每股 1.45 美元。因此，预计公司将向股东支付约 83% 的 FFO 作为股息。</p>
<h3><strong>最终思考</strong></h3>
<p>我们预计 Gladstone Commercial 未来的总年回报为 13%。以当前 10.9% 的收益率来看，该股票似乎被低估。我们对公司强大的经济衰退韧性和稳定的每股 FFO 持积极态度，但由于近期缺乏股息增长，我们给予卖出评级。</p>
<hr/>
<p><em>更多来自此作者的内容：</em></p>
<p>高股息 50：Dynex Capital Inc.</p>
<p>高股息 50：格拉德斯通资本</p>
<p>3 只长期回报的顶级股息贵族</p>

格拉德斯通商业

<p>格拉德斯通商业公司是一家房地产投资信托基金（REIT），专注于在美国收购和管理净租赁的办公和工业物业。该公司报告了 2025 年第三季度的收入为 4080 万美元，同比增长 3.3%，净收入为 100 万美元。它保持着高入住率，并战略性地关注工业资产。年度股息为每股 1.20 美元，收益率为 10.9%。尽管具有强大的经济衰退韧性和稳定的资金运营现金流（FFO），由于近期缺乏股息增长，仍被给予卖出评级</p>

<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg" alt="" original-src="https://cdn.pixabay.com/photo/2015/06/10/16/35/mark-804936_960_720.jpg"/></p>
<p><em>Image Source: Pixabay</em></p>
<div class="lb-trans"><p><em>图片来源：Pixabay</em></p>
</div><p>High-yield stocks pay out dividends that are significantly higher than the market average. For example, the S&amp;P 500’s current yield is only ~1.2%.</p>
<div class="lb-trans"><p>高收益股票支付的股息显著高于市场平均水平。例如，标准普尔 500 指数当前的收益率仅为约 1.2%。</p>
</div><p>High-yield stocks can be particularly beneficial in supplementing income after retirement. A $120,000 investment in stocks with an average dividend yield of 5% creates an average of <strong>$500 a month in dividends</strong>.</p>
<div class="lb-trans"><p>高收益股票在退休后补充收入方面尤其有利。投资 12 万美元于平均股息收益率为 5% 的股票，每月可产生约 <strong>500 美元的股息</strong>。</p>
</div><p>We have created a spreadsheet of stocks (and closely related REITs, MLPs, etc.) with dividend yields of 5% or more.</p>
<div class="lb-trans"><p>我们创建了一份股息收益率为 5% 或更高的股票（以及相关的房地产投资信托、主有限合伙等）电子表格。</p>
</div><p>Next on our list of high-dividend stocks to review is Gladstone Commercial Corporation (GOOD).</p>
<div class="lb-trans"><p>我们要审查的下一个高股息股票是 Gladstone Commercial Corporation（GOOD）。</p>
</div><h3><strong>Business Overview</strong></h3>
<div class="lb-trans"><h3><strong>业务概述</strong></h3>
</div><p>Gladstone Commercial Corporation is a real estate investment trust (REIT) that focuses on acquiring, owning, and managing single-tenant and anchored multi-tenant net-leased office and industrial properties across the United States. Founded in 2003, the company’s portfolio includes 151 properties in 27 states, totaling approximately 17 million square feet and leased to over 100 tenants. Its strategy emphasizes long-term leases with creditworthy tenants, targeting stable income and diversification across industries and geographies.</p>
<div class="lb-trans"><p>Gladstone Commercial Corporation 是一家房地产投资信托（REIT），专注于收购、拥有和管理美国各地的单租户和多租户净租赁办公及工业物业。公司成立于 2003 年，投资组合包括 151 个物业，分布在 27 个州，总面积约 1700 万平方英尺，租给超过 100 个租户。其战略强调与信用良好的租户签订长期租约，旨在实现稳定的收入和跨行业及地域的多样化。</p>
</div><p>The company is known for delivering consistent income to shareholders through monthly cash distributions and maintaining high occupancy levels, which stood at 99.1% as of mid-2025. Gladstone Commercial is increasingly focusing on industrial assets, which now account for about 67% of its annualized rent, reflecting a strategic shift away from non-core office properties. This focus positions the REIT for steady rental income and modest, reliable growth, appealing primarily to income-oriented investors seeking stability.</p>
<div class="lb-trans"><p>该公司以通过每月现金分配向股东提供稳定收入而闻名，并保持高达 99.1% 的入住率（截至 2025 年中）。Gladstone Commercial 越来越关注工业资产，目前约占其年化租金的 67%，反映出其战略上逐渐远离非核心办公物业。这一重点使得该 REIT 能够实现稳定的租金收入和适度、可靠的增长，主要吸引寻求稳定性的收入导向型投资者。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(点击图片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.18.50-PM-768x588.png" alt="" original-src="https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.18.50-PM-768x588.png"/></p>
<p><em>Source: Investor Relations</em></p>
<div class="lb-trans"><p><em>来源：投资者关系</em></p>
</div><p>Gladstone Commercial Corporation reported third-quarter 2025 results with total operating revenue of $40.8 million, up 3.3% from the prior quarter. Net income available to common stockholders was $1.0 million, or $0.02 per share, down 32.5%, while Core FFO rose 1.8% to $16.4 million, or $0.35 per share, driven by acquisitions and leasing activity.</p>
<div class="lb-trans"><p>Gladstone Commercial Corporation 报告了 2025 年第三季度的业绩，总运营收入为 4080 万美元，比上一季度增长 3.3%。可供普通股东的净收入为 100 万美元，或每股 0.02 美元，下降 32.5%；而核心 FFO 增长 1.8%，达到 1640 万美元，或每股 0.35 美元，主要受收购和租赁活动的推动。</p>
</div><p>During the quarter, the company collected 100% of rents, acquired a six-property, 693,236-square-foot portfolio for $54.8 million, sold a non-core industrial property for $3.0 million, and completed leasing on 734,464 square feet across 14 properties. It also raised $23.0 million through its at-the-market stock program and continued monthly cash distributions to shareholders.</p>
<div class="lb-trans"><p>在本季度，公司收取了 100% 的租金，收购了一个六个物业、693,236 平方英尺的投资组合，花费 5480 万美元，出售了一处非核心工业物业，售价 300 万美元，并在 14 个物业上完成了 734,464 平方英尺的租赁。它还通过市场股票计划筹集了 2300 万美元，并继续向股东进行每月现金分配。</p>
</div><p>After the quarter, Gladstone expanded its credit facility to $600 million, extended loan maturities, repaid $3.1 million of mortgage debt, and maintained full rent collection. These actions reinforce the company’s focus on stable income, disciplined capital management, and strategic portfolio growth.</p>
<div class="lb-trans"><p>在本季度结束后，Gladstone 将其信贷额度扩大至 6 亿美元，延长贷款到期，偿还了 310 万美元的抵押贷款，并保持了全额租金收取。这些举措强化了公司对稳定收入、严格资本管理和战略投资组合增长的关注。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(点击图片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.19.42-PM-768x588.png" alt="" original-src="https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.19.42-PM-768x588.png"/></p>
<p><em>Source: Investor Relations</em></p>
<div class="lb-trans"><p><em>来源：投资者关系</em></p>
</div><h3><strong>Growth Prospects</strong></h3>
<div class="lb-trans"><h3><strong>增长前景</strong></h3>
</div><p>Gladstone Commercial is positioned for steady growth through its strategic focus on industrial properties, which now make up about 67% of its annualized rent. By acquiring fully leased, long-term industrial assets and disposing of non-core office properties, the company is improving portfolio quality and cash flow stability.</p>
<div class="lb-trans"><p>Gladstone Commercial 通过其对工业物业的战略关注，定位于稳定增长，这些物业目前占其年化租金的约 67%。通过收购完全租赁的长期工业资产并处置非核心办公物业，公司正在改善投资组合质量和现金流稳定性。</p>
</div><p>High occupancy levels, near 98–99%, and long average lease terms support consistent rent collection and reduce vacancy risk.</p>
<div class="lb-trans"><p>高入住率，接近 98-99%，以及较长的平均租赁期限支持稳定的租金收取并降低空置风险。</p>
</div><p>Growth is expected to be modest but stable. Core FFO rose 1.8% in Q3 2025 to $16.4 million ($0.35 per share), reflecting contributions from acquisitions and leasing, though per-share growth is tempered by equity issuance and rising costs.</p>
<div class="lb-trans"><p>预计增长将适度但稳定。2025 年第三季度核心 FFO 增长 1.8%，达到 1640 万美元（每股 0.35 美元），反映出收购和租赁的贡献，尽管每股增长受到股权发行和成本上升的抑制。</p>
</div><p>Key risks include higher interest rates and challenges in the office sector. For investors, Gladstone’s appeal lies in reliable income and incremental portfolio growth rather than rapid expansion.</p>
<div class="lb-trans"><p>主要风险包括更高的利率和办公部门的挑战。对于投资者而言，Gladstone 的吸引力在于可靠的收入和渐进的投资组合增长，而非快速扩张。</p>
</div><h3><strong>Competitive Advantages &amp; Recession Performance</strong></h3>
<div class="lb-trans"><h3><strong>竞争优势与经济衰退表现</strong></h3>
</div><p>Gladstone Commercial’s competitive advantages stem from its focus on high-quality, net-leased industrial and office properties with creditworthy tenants and long-term leases. This strategy ensures predictable cash flow and reduces tenant turnover, while its disciplined acquisition approach targets fully leased properties in growth markets.</p>
<div class="lb-trans"><p>Gladstone Commercial 的竞争优势源于其专注于高质量、净租赁的工业和办公物业，租户信用良好且租期较长。这一战略确保了可预测的现金流并减少了租户流失，而其严格的收购方法则针对增长市场中的完全租赁物业。</p>
</div><p>The company also maintains a diversified portfolio across industries and geographies, mitigating concentration risk and providing stability in varying market conditions.</p>
<div class="lb-trans"><p>该公司还在行业和地域上保持多样化的投资组合，降低集中风险，并在不同市场条件下提供稳定性。</p>
</div><p>The company has historically demonstrated resilience during economic downturns due to its strong tenant base, long lease terms, and net lease structure, which shifts most property expenses to tenants.</p>
<div class="lb-trans"><p>该公司在经济衰退期间历史上表现出韧性，得益于其强大的租户基础、较长的租赁期限和净租赁结构，这将大部分物业费用转移给租户。</p>
</div><p>Occupancy has remained consistently high—near 98–99%—even in slower economic periods, allowing Gladstone to sustain cash distributions and Core FFO. This combination of stable income, diversified holdings, and conservative financial management helps the REIT weather recessions better than many peers.</p>
<div class="lb-trans"><p>即使在经济放缓时期，入住率也保持在 98-99% 左右，使 Gladstone 能够维持现金分配和核心 FFO。这种稳定收入、多样化持有和保守的财务管理组合使得该 REIT 在经济衰退中表现优于许多同行。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(点击图片放大)</em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.26.41-PM-768x588.png" alt="" original-src="https://www.suredividend.com/wp-content/uploads/2025/11/Screenshot-2025-11-11-at-6.26.41-PM-768x588.png"/></p>
<p><em>Source: Investor Relations</em></p>
<div class="lb-trans"><p><em>来源：投资者关系</em></p>
</div><h3><strong>Dividend Analysis</strong></h3>
<div class="lb-trans"><h3><strong>股息分析</strong></h3>
</div><p>The company’s annual dividend is $1.20 per share. At its recent share price, the stock has a high yield of 10.9%.</p>
<div class="lb-trans"><p>该公司的年股息为每股 1.20 美元。根据其最近的股价，该股票的高收益率为 10.9%。</p>
</div><p>Given the company’s 2025 earnings outlook, FFO is expected to be $1.45 per share. As a result, the company is expected to pay out roughly 83% of its FFO to shareholders in dividends.</p>
<div class="lb-trans"><p>考虑到公司 2025 年的盈利前景，FFO 预计为每股 1.45 美元。因此，预计公司将向股东支付约 83% 的 FFO 作为股息。</p>
</div><h3><strong>Final Thoughts</strong></h3>
<div class="lb-trans"><h3><strong>最终思考</strong></h3>
</div><p>We project total annual returns of 13% for Gladstone Commercial going forward. With a current yield of 10.9%, the stock appears undervalued. We view the company’s strong recession resilience and consistent FFO per share positively, though we assign a sell rating due to the lack of recent dividend increases.</p>
<div class="lb-trans"><p>我们预计 Gladstone Commercial 未来的总年回报为 13%。以当前 10.9% 的收益率来看，该股票似乎被低估。我们对公司强大的经济衰退韧性和稳定的每股 FFO 持积极态度，但由于近期缺乏股息增长，我们给予卖出评级。</p>
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高股息 50：Gladstone 商业公司