$12.62
-0.079%Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States. Including payments through September 2020, Gladstone Commercial has paid 189 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, Gladstone Commercial paid five consecutive quarterly cash distributions. The company has also paid 53 consecutive monthly cash distributions on its Series D Preferred Stock, 12 consecutive monthly cash distributions on its Series E Preferred Stock and three consecutive monthly cash distributions on its Series F Preferred Stock. Gladstone Commercial has never skipped, reduced or deferred a distribution since its inception in 2003.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $136.4M | $211.2M | $326.9M | $505.9M | $783.0M | $1.2B | $1.9B | $2.9B | $4.5B | $7.0B |
| Maintenance CapEx | -$6.5M | -$10.1M | -$15.6M | -$24.1M | -$37.3M | -$57.7M | -$89.3M | -$138.2M | -$213.9M | -$331.1M |
| Owner Earnings | $129.9M | $201.1M | $311.3M | $481.8M | $745.8M | $1.2B | $1.8B | $2.8B | $4.3B | $6.6B |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $120.3M | $172.4M | $247.1M | $354.2M | $507.6M | $727.4M | $1.0B | $1.5B | $2.1B | $3.1B |
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