Gladstone Commercial Corporation Reports Results for the Fourth Quarter and Year Ended December 31, 2025

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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 / ACCESS Newswire / February 18, 2025 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\" or the \"Company\") today reported financial results for the fourth quarter and year ended December 31, 2024. 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 found on 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, 2024 September 30, 2024 $ Change % Change Operating Data: Total operating revenue $37,375 $39,235 $(1,860) (4.7)%Total operating expenses (24,974)(1) (28,546)(4) 3,572 (12.5)%Other (expense) income, net (5,208)(2) 1,032 (5) (6,240) (604.7)%Net income $7,193 $11,721 $(4,528) (38.6)%Less: Dividends attributable to preferred stock (3,106) (3,106) - -%Less: Dividends attributable to senior common stock (104) (106) 2 (1.9)%Less/Add: (Loss) gain on extinguishment of Series F preferred stock, net (9) 2 (11) (550.0)%Net income available to common stockholders and Non-controlling OP Unitholders $3,974 $8,511 $(4,537) (53.3)%Add: Real estate depreciation and amortization 13,102 13,343 (241) (1.8)%Add: Impairment charge 1,780 4,549 (2,769) (60.9)%Less: Gain on sale of real estate, net (3,674) (10,319) 6,645 (64.4)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $15,182 $16,084 $(902) (5.6)%Add: Convertible senior common distributions 104 106 (2) (1.9)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted $15,286 $16,190 $(904) (5.6)% Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $15,182 $16,084 $(902) (5.6)%Add: Asset retirement...

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