Gladstone Commercial Buys Industrial Service Facility in Texas for $8.125M

SmarterAnalyst

2021-06-18

Real estate investment trust Gladstone Commercial (GOOD) has acquired an industrial service facility in Houston, Texas, for $8.125 million.

The average capitalization rate for the 25,200 square foot facility was 7.1%.

Gladstone’s Executive Vice President Buzz Cooper said, “The acquisition of the Mobile Mini facility continues our strategic expansion into our targeted growth locations. The facility serves as a mission-critical location for the tenant.” (See Gladstone Commercial stock chart on TipRanks)

Gladstone’s President Bob Cutlip added, “This transaction promotes our strategy of increasing our allocation to industrial buildings in strong growth corridors and we are happy to add high-quality real estate and credit to the portfolio.”

The acquired facility is currently leased to Mobile Mini Inc., a subsidiary of WillScot Mobile Mini (WSC), and still has about 12.7 years of lease term remaining.

On June 15, B.Riley Financial analyst Craig Kucera reiterated a Buy rating on the stock but increased the price target to $25 (10.7% upside potential) from $23.

Reacting after NAREIT’s REITweek, Kucera thinks that as the world emerges from the COVID-19 pandemic, REITs are generally optimistic about current business and macro trends.

Based on 4 unanimous Buys, consensus among analysts is a Strong Buy. The GOOD average analyst price target of $24 implies 6.3% upside potential. Shares have gained 27.8% so far this year.

Related News:
Citi’s Shares Drop as CFO Warns of Rising Expenses and Falling Revenue – Report
GM to Boost EV and AV Spend to $35B; Raises 1H21 EBIT Outlook
Why is Exxon Mobil Trending Higher?

More recent articles from Smarter Analyst:

CAI International to be Acquired by Mitsubishi HC Capital; Shares Soar 45%
Hydrofarm to Snap up Aurora Innovations for $161M; Shares Gain
Ericsson Wins Vodafone 5G Contracts for UK, German Networks
Microsoft Plans More China Data Centers in Asia Cloud Push – Report

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The facility serves as a mission-critical location for the tenant.” (See Gladstone Commercial stock chart on TipRanks)</p>\n<p>Gladstone’s President Bob Cutlip added, “This transaction promotes our strategy of increasing our allocation to industrial buildings in strong growth corridors and we are happy to add high-quality real estate and credit to the portfolio.”</p>\n<p>The acquired facility is currently leased to Mobile Mini Inc., a subsidiary of WillScot Mobile Mini (<strong>WSC</strong>), and still has about 12.7 years of lease term remaining.</p>\n<p>On June 15, B.Riley Financial analyst Craig Kucera reiterated a Buy rating on the stock but increased the price target to $25 (10.7% upside potential) from $23.</p>\n<p>Reacting after NAREIT’s REITweek, Kucera thinks that as the world emerges from the COVID-19 pandemic, REITs are generally optimistic about current business and macro trends.</p>\n<p>Based on 4 unanimous Buys, consensus among analysts is a Strong Buy. The GOOD average analyst price target of $24 implies 6.3% upside potential. Shares have gained 27.8% so far this year.</p>\n<figure>\n<img src=\"https://s1.yimg.com/uu/api/res/1.2/5w9n5d9_SchwYiV8r7c6yg--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/smarteranalyst_347/6b42bc52943286f1d11a866c9b988549\"/>\n</figure>\n<p><strong>Related News:</strong><strong><br/> </strong>Citi’s Shares Drop as CFO Warns of Rising Expenses and Falling Revenue – Report<br/> GM to Boost EV and AV Spend to $35B; Raises 1H21 EBIT Outlook<br/> Why is Exxon Mobil Trending Higher?</p>\n<h4>More recent articles from Smarter Analyst:</h4>\n<ul>\n<li> CAI International to be Acquired by Mitsubishi HC Capital; Shares Soar 45% </li>\n<li> Hydrofarm to Snap up Aurora Innovations for $161M; Shares Gain </li>\n<li> Ericsson Wins Vodafone 5G Contracts for UK, German Networks </li>\n<li> Microsoft Plans More China Data Centers in Asia Cloud Push – Report </li>\n</ul></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://finance.yahoo.com/news/gladstone-commercial-buys-industrial-facility-113038478.html\">SmarterAnalyst</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SCI","symbol_name":"Service Corp International","start_time":0,"source_url":"https://finance.yahoo.com/news/gladstone-commercial-buys-industrial-facility-113038478.html","article_id":"2144776542","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/21KmZhGDokAxdqLJdJNTYw--~B/aD0zMDc7dz04MTc7YXBwaWQ9eXRhY2h5b24-/https://s.yimg.com/uu/api/res/1.2/kzP1HNWGpClBOTN1itUOYg--~B/aD0zMDc7dz04MTc7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/smarteranalyst_347/6b42bc52943286f1d11a866c9b988549"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2144776542","pubTimestamp":1624015838,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Real estate investment trust Gladstone Commercial  has acquired an industrial service facility in Houston, Texas, for $8.125 million.The average capitalization rate for the 25,200 square foot facility was 7.1%.Gladstone’s Executive Vice President Buzz Cooper said, “The acquisition of the Mobile Mini facility continues our strategic expansion into our targeted growth locations. 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Gladstone’s President Bob Cutlip added, “This tran","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SCI":"Service Corp International","GOODM":"Gladstone Commercial Corp","GOODN":"Gladstone Commercial Corporation","GOODO":"Gladstone Commercial Corporation","GOOD":"格拉德斯通商业"},"translate_title":"Gladstone Commercial以812.5万美元收购德克萨斯州工业服务设施","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOOD":1,"GOODM":1,"GOODN":0.6,"GOODO":1,"GOODP":1,"SCI":1},"content_text":"Real estate investment trust Gladstone Commercial (GOOD) has acquired an industrial service facility in Houston, Texas, for $8.125 million.\nThe average capitalization rate for the 25,200 square foot facility was 7.1%.\nGladstone’s Executive Vice President Buzz Cooper said, “The acquisition of the Mobile Mini facility continues our strategic expansion into our targeted growth locations. The facility serves as a mission-critical location for the tenant.” (See Gladstone Commercial stock chart on TipRanks)\nGladstone’s President Bob Cutlip added, “This transaction promotes our strategy of increasing our allocation to industrial buildings in strong growth corridors and we are happy to add high-quality real estate and credit to the portfolio.”\nThe acquired facility is currently leased to Mobile Mini Inc., a subsidiary of WillScot Mobile Mini (WSC), and still has about 12.7 years of lease term remaining.\nOn June 15, B.Riley Financial analyst Craig Kucera reiterated a Buy rating on the stock but increased the price target to $25 (10.7% upside potential) from $23.\nReacting after NAREIT’s REITweek, Kucera thinks that as the world emerges from the COVID-19 pandemic, REITs are generally optimistic about current business and macro trends.\nBased on 4 unanimous Buys, consensus among analysts is a Strong Buy. The GOOD average analyst price target of $24 implies 6.3% upside potential. Shares have gained 27.8% so far this year.\n\n\n\nRelated News: Citi’s Shares Drop as CFO Warns of Rising Expenses and Falling Revenue – Report GM to Boost EV and AV Spend to $35B; Raises 1H21 EBIT Outlook Why is Exxon Mobil Trending Higher?\nMore recent articles from Smarter Analyst:\n\n CAI International to be Acquired by Mitsubishi HC Capital; Shares Soar 45% \n Hydrofarm to Snap up Aurora Innovations for $161M; Shares Gain \n Ericsson Wins Vodafone 5G Contracts for UK, German Networks \n Microsoft Plans More China Data Centers in Asia Cloud Push – Report","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}