LOWOutside partyTenant
17.2%
top five tenants
“10-K Item 1A: 'our five largest tenants accounted for approximately 17.2% of our total lease revenue.'”
GOOD · Concentration risk · 10-K extracted
Gladstone Commercial Corporatio (GOOD) concentration risks
Updated
The most significant concentration Gladstone Commercial Corporatio discloses is top five tenants at 17.2%, classified LOW by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Gladstone Commercial Corporatio’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH0
MEDIUM0
LOW5
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partyTenant
15.2%
Automotive industry tenants
“10-K Item 1A: 'As of December 31, 2025, 15.2% was earned from tenants in the Automotive industry'”
LOWOutside partyTenant
12.6%
Diversified/Conglomerate Services industry tenants
“10-K Item 1A: '12.6% of our total lease revenue was earned from tenants in the Diversified/Conglomerate Services industry'”
LOWOutside partyTenant
9.6%
Buildings and Real Estate industry tenants
“10-K Item 1A: '9.6% was earned from tenants in the Buildings and Real Estate industry'”
LOWOutside partyTenant
8.7%
Telecommunications industry tenants
“10-K Item 1A: '8.7% was earned from tenants in the Telecommunications industry.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Gladstone Commercial's tenant concentration is diversified across a broad industry mix rather than concentrated in any one relationship. Its five largest tenants together accounted for approximately 17.2% of total lease revenue — a share on the smaller end, indicating no single tenant relationship dominates the portfolio. Industry-level exposure is similarly modest: Automotive tenants contributed 15.2%, Diversified/Conglomerate Services tenants 12.6%, Buildings and Real Estate tenants 9.6%, and Telecommunications tenants 8.7% of total lease revenue as of December 31, 2025. Each of these is a dependency-type exposure tied to industry-specific demand rather than a structural feature of the REIT's business model, and none individually represents a large share of total revenue. Taken together, the pattern is one of a well-spread tenant and industry base: no tenant or single industry vertical approaches a level that would materially move the investment verdict on its own, and a downturn in any one of these industries — automotive, diversified services, real estate, or telecom — would be a partial rather than dominant hit to lease revenue.
For the engine’s reasoning on GOOD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · REIT - Diversified
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AAT | American Assets Trust, Inc. | 2 | 1 | 1 | 4 |
| BNL | Broadstone Net Lease, Inc. | 1 | 2 | 1 | 4 |
| ESRT | Empire State Realty Trust, Inc. | 1 | 1 | 2 | 4 |
| CTO | CTO Realty Growth, Inc. | 1 | 0 | 0 | 1 |
| AHRT | AH Realty Trust, Inc. | 0 | 1 | 0 | 1 |
| GOOD● | Gladstone Commercial Corporatio | 0 | 0 | 5 | 5 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.