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Dec 31, 2019
Gladstone Commercial Q4 2019 Earnings Report
Gladstone Commercial's Q4 2019 financial results were reported.
Key Takeaways
Gladstone Commercial Corporation reported total operating revenue of $29.39 million and net income of $0.47 million for Q4 2019. Core FFO available to common stockholders was $13.21 million, a 4.4% increase compared to the previous quarter.
Total operating revenue was $29.39 million, a 2.5% increase compared to the previous quarter.
Net income was $0.47 million, compared to $2.19 million in the previous quarter.
Core FFO available to common stockholders was $13.21 million, a 4.4% increase compared to the quarter ended September 30, 2019, equaling $0.40 per share.
The increase in Core FFO was primarily due to increased revenues from nine property acquisitions and decreased interest expense, partially offset by increased property operating expenses.
Forward Guidance
Gladstone Commercial anticipates continued growth and success for its shareholders, focusing on industrial acquisitions to improve operating efficiencies and reduce capital expenditures. The company expects stable and rising same-store rents and a robust pipeline for future acquisitions.
Positive Outlook
- Consistent performance and stabilized revenues from same-store property occupancy and rent growth.
- Accretive real estate investments made during 2018 and 2019.
- Ability to lease previously vacant space.
- Deleveraging and capital recycling programs.
- Focus on industrial assets, with $130.3 million invested in 18 industrial properties in target growth markets during 2019.
Challenges Ahead
- Ability to raise additional capital.
- Availability and terms of capital and financing.
- Downturns in the current economic environment.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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