<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>圖片來源：Pixabay</em></p>
<p>高收益股票支付的股息顯著高於市場平均水平。例如，標準普爾 500 指數當前的收益率僅為約 1.2%。</p>
<p>高收益股票在退休後補充收入方面尤其有利。投資 12 萬美元於平均股息收益率為 5% 的股票，每月可產生約 <strong>500 美元的股息</strong>。</p>
<p>我們創建了一份股息收益率為 5% 或更高的股票（以及相關的房地產投資信託、主有限合夥等）電子表格。</p>
<p>我們要審查的下一個高股息股票是 Gladstone Commercial Corporation（GOOD）。</p>
<h3><strong>業務概述</strong></h3>
<p>Gladstone Commercial Corporation 是一家房地產投資信託（REIT），專注於收購、擁有和管理美國各地的單租户和多租户淨租賃辦公及工業物業。公司成立於 2003 年，投資組合包括 151 個物業，分佈在 27 個州，總面積約 1700 萬平方英尺，租給超過 100 個租户。其戰略強調與信用良好的租户簽訂長期租約，旨在實現穩定的收入和跨行業及地域的多樣化。</p>
<p>該公司以通過每月現金分配向股東提供穩定收入而聞名，並保持高達 99.1% 的入住率（截至 2025 年中）。Gladstone Commercial 越來越關注工業資產，目前約佔其年化租金的 67%，反映出其戰略上逐漸遠離非核心辦公物業。這一重點使得該 REIT 能夠實現穩定的租金收入和適度、可靠的增長，主要吸引尋求穩定性的收入導向型投資者。</p>
<p><em>(點擊圖片放大)</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>來源：投資者關係</em></p>
<p>Gladstone Commercial Corporation 報告了 2025 年第三季度的業績，總運營收入為 4080 萬美元，比上一季度增長 3.3%。可供普通股東的淨收入為 100 萬美元，或每股 0.02 美元，下降 32.5%；而核心 FFO 增長 1.8%，達到 1640 萬美元，或每股 0.35 美元，主要受收購和租賃活動的推動。</p>
<p>在本季度，公司收取了 100% 的租金，收購了一個六個物業、693,236 平方英尺的投資組合，花費 5480 萬美元，出售了一處非核心工業物業，售價 300 萬美元，並在 14 個物業上完成了 734,464 平方英尺的租賃。它還通過市場股票計劃籌集了 2300 萬美元，並繼續向股東進行每月現金分配。</p>
<p>在本季度結束後，Gladstone 將其信貸額度擴大至 6 億美元，延長貸款到期，償還了 310 萬美元的抵押貸款，並保持了全額租金收取。這些舉措強化了公司對穩定收入、嚴格資本管理和戰略投資組合增長的關注。</p>
<p><em>(點擊圖片放大)</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>來源：投資者關係</em></p>
<h3><strong>增長前景</strong></h3>
<p>Gladstone Commercial 通過其對工業物業的戰略關注，定位於穩定增長，這些物業目前佔其年化租金的約 67%。通過收購完全租賃的長期工業資產並處置非核心辦公物業，公司正在改善投資組合質量和現金流穩定性。</p>
<p>高入住率，接近 98-99%，以及較長的平均租賃期限支持穩定的租金收取並降低空置風險。</p>
<p>預計增長將適度但穩定。2025 年第三季度核心 FFO 增長 1.8%，達到 1640 萬美元（每股 0.35 美元），反映出收購和租賃的貢獻，儘管每股增長受到股權發行和成本上升的抑制。</p>
<p>主要風險包括更高的利率和辦公部門的挑戰。對於投資者而言，Gladstone 的吸引力在於可靠的收入和漸進的投資組合增長，而非快速擴張。</p>
<h3><strong>競爭優勢與經濟衰退表現</strong></h3>
<p>Gladstone Commercial 的競爭優勢源於其專注於高質量、淨租賃的工業和辦公物業，租户信用良好且租期較長。這一戰略確保了可預測的現金流並減少了租户流失，而其嚴格的收購方法則針對增長市場中的完全租賃物業。</p>
<p>該公司還在行業和地域上保持多樣化的投資組合，降低集中風險，並在不同市場條件下提供穩定性。</p>
<p>該公司在經濟衰退期間歷史上表現出韌性，得益於其強大的租户基礎、較長的租賃期限和淨租賃結構，這將大部分物業費用轉移給租户。</p>
<p>即使在經濟放緩時期，入住率也保持在 98-99% 左右，使 Gladstone 能夠維持現金分配和核心 FFO。這種穩定收入、多樣化持有和保守的財務管理組合使得該 REIT 在經濟衰退中表現優於許多同行。</p>
<p><em>(點擊圖片放大)</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>來源：投資者關係</em></p>
<h3><strong>股息分析</strong></h3>
<p>該公司的年股息為每股 1.20 美元。根據其最近的股價，該股票的高收益率為 10.9%。</p>
<p>考慮到公司 2025 年的盈利前景，FFO 預計為每股 1.45 美元。因此，預計公司將向股東支付約 83% 的 FFO 作為股息。</p>
<h3><strong>最終思考</strong></h3>
<p>我們預計 Gladstone Commercial 未來的總年回報為 13%。以當前 10.9% 的收益率來看，該股票似乎被低估。我們對公司強大的經濟衰退韌性和穩定的每股 FFO 持積極態度，但由於近期缺乏股息增長，我們給予賣出評級。</p>
<hr/>
<p><em>更多來自此作者的內容：</em></p>
<p>高股息 50：Dynex Capital Inc.</p>
<p>高股息 50：格拉德斯通資本</p>
<p>3 只長期回報的頂級股息貴族</p>

格拉德斯通商業

<p>格拉德斯通商業公司是一家房地產投資信託基金（REIT），專注於在美國收購和管理淨租賃的辦公和工業物業。該公司報告了 2025 年第三季度的收入為 4080 萬美元，同比增長 3.3%，淨收入為 100 萬美元。它保持着高入住率，並戰略性地關注工業資產。年度股息為每股 1.20 美元，收益率為 10.9%。儘管具有強大的經濟衰退韌性和穩定的資金運營現金流（FFO），由於近期缺乏股息增長，仍被給予賣出評級</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>圖片來源：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顯著高於市場平均水平。例如，標準普爾 500 指數當前的收益率僅為約 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>高收益股票在退休後補充收入方面尤其有利。投資 12 萬美元於平均股息收益率為 5% 的股票，每月可產生約 <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>我們創建了一份股息收益率為 5% 或更高的股票（以及相關的房地產投資信託、主有限合夥等）電子表格。</p>
</div><p>Next on our list of high-dividend stocks to review is Gladstone Commercial Corporation (GOOD).</p>
<div class="lb-trans"><p>我們要審查的下一個高股息股票是 Gladstone Commercial Corporation（GOOD）。</p>
</div><h3><strong>Business Overview</strong></h3>
<div class="lb-trans"><h3><strong>業務概述</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 是一家房地產投資信託（REIT），專注於收購、擁有和管理美國各地的單租户和多租户淨租賃辦公及工業物業。公司成立於 2003 年，投資組合包括 151 個物業，分佈在 27 個州，總面積約 1700 萬平方英尺，租給超過 100 個租户。其戰略強調與信用良好的租户簽訂長期租約，旨在實現穩定的收入和跨行業及地域的多樣化。</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>該公司以通過每月現金分配向股東提供穩定收入而聞名，並保持高達 99.1% 的入住率（截至 2025 年中）。Gladstone Commercial 越來越關注工業資產，目前約佔其年化租金的 67%，反映出其戰略上逐漸遠離非核心辦公物業。這一重點使得該 REIT 能夠實現穩定的租金收入和適度、可靠的增長，主要吸引尋求穩定性的收入導向型投資者。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</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>來源：投資者關係</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 報告了 2025 年第三季度的業績，總運營收入為 4080 萬美元，比上一季度增長 3.3%。可供普通股東的淨收入為 100 萬美元，或每股 0.02 美元，下降 32.5%；而核心 FFO 增長 1.8%，達到 1640 萬美元，或每股 0.35 美元，主要受收購和租賃活動的推動。</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，收購了一個六個物業、693,236 平方英尺的投資組合，花費 5480 萬美元，出售了一處非核心工業物業，售價 300 萬美元，並在 14 個物業上完成了 734,464 平方英尺的租賃。它還通過市場股票計劃籌集了 2300 萬美元，並繼續向股東進行每月現金分配。</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>在本季度結束後，Gladstone 將其信貸額度擴大至 6 億美元，延長貸款到期，償還了 310 萬美元的抵押貸款，並保持了全額租金收取。這些舉措強化了公司對穩定收入、嚴格資本管理和戰略投資組合增長的關注。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</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>來源：投資者關係</em></p>
</div><h3><strong>Growth Prospects</strong></h3>
<div class="lb-trans"><h3><strong>增長前景</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 通過其對工業物業的戰略關注，定位於穩定增長，這些物業目前佔其年化租金的約 67%。通過收購完全租賃的長期工業資產並處置非核心辦公物業，公司正在改善投資組合質量和現金流穩定性。</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%，以及較長的平均租賃期限支持穩定的租金收取並降低空置風險。</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>預計增長將適度但穩定。2025 年第三季度核心 FFO 增長 1.8%，達到 1640 萬美元（每股 0.35 美元），反映出收購和租賃的貢獻，儘管每股增長受到股權發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>主要風險包括更高的利率和辦公部門的挑戰。對於投資者而言，Gladstone 的吸引力在於可靠的收入和漸進的投資組合增長，而非快速擴張。</p>
</div><h3><strong>Competitive Advantages &amp; Recession Performance</strong></h3>
<div class="lb-trans"><h3><strong>競爭優勢與經濟衰退表現</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 的競爭優勢源於其專注於高質量、淨租賃的工業和辦公物業，租户信用良好且租期較長。這一戰略確保了可預測的現金流並減少了租户流失，而其嚴格的收購方法則針對增長市場中的完全租賃物業。</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>該公司還在行業和地域上保持多樣化的投資組合，降低集中風險，並在不同市場條件下提供穩定性。</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>該公司在經濟衰退期間歷史上表現出韌性，得益於其強大的租户基礎、較長的租賃期限和淨租賃結構，這將大部分物業費用轉移給租户。</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>即使在經濟放緩時期，入住率也保持在 98-99% 左右，使 Gladstone 能夠維持現金分配和核心 FFO。這種穩定收入、多樣化持有和保守的財務管理組合使得該 REIT 在經濟衰退中表現優於許多同行。</p>
</div><p><em>(Click on image to enlarge)</em></p>
<div class="lb-trans"><p><em>(點擊圖片放大)</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>來源：投資者關係</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>該公司的年股息為每股 1.20 美元。根據其最近的股價，該股票的高收益率為 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>考慮到公司 2025 年的盈利前景，FFO 預計為每股 1.45 美元。因此，預計公司將向股東支付約 83% 的 FFO 作為股息。</p>
</div><h3><strong>Final Thoughts</strong></h3>
<div class="lb-trans"><h3><strong>最終思考</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>我們預計 Gladstone Commercial 未來的總年回報為 13%。以當前 10.9% 的收益率來看，該股票似乎被低估。我們對公司強大的經濟衰退韌性和穩定的每股 FFO 持積極態度，但由於近期缺乏股息增長，我們給予賣出評級。</p>
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高股息 50：Gladstone 商業公司