Gladstone Commercial Corporation reported a net income of $7.193 million for Q4 2024, a decrease of 38.6% from the previous quarter. Total operating revenue was $37.375 million, a 4.7% decrease quarter-over-quarter. Funds from operations (FFO) available to common stockholders and Non-controlling OP Unitholders (diluted) decreased by 5.6% to $15.286 million.
Net income for Q4 2024 was $7.193 million, a 38.6% decrease from Q3 2024.
Total operating revenue for Q4 2024 was $37.375 million, down 4.7% from Q3 2024.
Diluted FFO available to common stockholders and Non-controlling OP Unitholders was $15.286 million, a 5.6% decrease from Q3 2024.
The company reported a gain on sale of real estate, net, of $3.674 million for Q4 2024.
Gladstone Commercial anticipates continued consistent performance and stabilized revenues, driven by strong property occupancy, rent collection, and accretive real estate investments. The company plans to continue its capital recycling program, selling non-core assets and reinvesting in target growth markets, particularly industrial properties. Despite economic uncertainties, they expect to maintain access to debt and equity markets for liquidity.
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