Gladstone Commercial Corporation reported consistent performance and stabilized revenues due to same store property occupancy, rent collection and growth, accretive real estate investments, tenant renewals, and deleveraging and capital recycling programs.
FFO available to common shareholders was $15.1 million, a decrease of 8.0% compared to the previous quarter, equaling $0.40 per share.
Core FFO available to common shareholders was $15.1 million, a 2.8% increase compared to the previous quarter, equaling $0.40 per share.
Collected 100% of 2021 cash rents.
Leased 675,096 vacant square feet with five tenants and renewed 883,654 square feet with 10 tenants during 2021.
Gladstone Commercial anticipates challenges due to the COVID-19 pandemic, but feels strongly about the depth of their tenant credit underwriting. They expect to continue to have access to the debt and equity markets, and are looking forward to continued growth and success for their shareholders.
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