Gladstone Commercial Corporation Reports Results for the Fourth Quarter and Year Ended December 31, 2021

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[{"type":"text","content":"Please note that the limited information that follows in this press release is not adequate to make an informed investment judgment.MCLEAN, VA / ACCESSWIRE / February 15, 2022 / Gladstone Commercial Corporation (NASDAQ:GOOD) (\"Gladstone Commercial\" or the \"Company\") today reported financial results for the fourth quarter and year ended December 31, 2021. A description of funds from operations, or FFO, FFO as adjusted for comparability, and Core FFO, all three non-GAAP (generally accepted accounting principles in the United States) financial measures, are located at the end of this press release. All per share references are to fully-diluted weighted average shares of common stock and Non-controlling OP Units, unless otherwise noted. For further detail, please also refer to both the quarterly financial supplement and the Company's Annual Report on Form 10-K which can be retrieved from the investors section of our website at www.gladstonecommercial.com.Summary Information (dollars in thousands, except per share data): As of and for the three months ended December 31, 2021 September 30, 2021 $ Change % Change Operating Data: Total operating revenue $35,306 $34,334 $972 2.8%Total operating expenses (25,411) (25,498) 87 (0.3)%Other expense, net (6,819)(1) (4,338) (2,481) 57.2%Net income $3,076 $4,498 $(1,422) (31.6)%Less: Dividends attributable to preferred stock (2,917) (2,868) (49) 1.7%Less: Dividends attributable to senior common stock (164) (170) 6 (3.5)%Net (loss) income (attributable) available to common stockholders and Non-controlling OP Unitholders $(5) $1,460 $(1,465) (100.3)%Add: Real estate depreciation and amortization 14,650 14,760 (110) (0.7)%Add: Loss on sale of real estate 266 - 266 100.0%Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $14,911 $16,220 $(1,309) (8.1)%Add: Convertible senior common distributions 164 170 (6) (3.5)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted $15,075 $16,390 $(1,315) (8.0)% Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $14,911 $16,220 $(1,309) (8.1)%Add: Asset retirement obligation expense 19 22 (3) (13.6)%Add: Realized loss on interest rate hedging instruments - 145 (145) (100.0)%Less: Acquisition related expenses (3) (46) 43 (9...

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