Gladstone Commercial Corporation Reports Results for the Third Quarter Ended September 30, 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 / November 1, 2021 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\" or the \"Company\") today reported financial results for the third quarter ended September 30, 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 Quarterly Report on Form 10-Q, which can be retrieved from the investors section of our website at www.gladstonecommercial.com.Summary Information (dollars in thousands, except share and per share data): As of and for the three months ended September 30, 2021 June 30, 2021 $ Change % Change Operating Data: Total operating revenue $ 34,334 $ 33,371 $ 963 2.9%Total operating expenses (25,498) (24,987) (511) 2.0%Other expense, net (4,338) (6,263) 1,925 (30.7)%Net income $ 4,498 $ 2,121 $ 2,377 112.1%Less: Dividends attributable to preferred stock (2,868) (2,856) (12) 0.4%Less: Series D Preferred Stock offering costs write off - (2,141) 2,141 (100.0)%Less: Dividends attributable to senior common stock (170) (177) 7 (4.0)%Net income (loss) available (attributable) to common stockholders and Non-controlling OP Unitholders $ 1,460 $ (3,053) $ 4,513 (147.8)%Add: Real estate depreciation and amortization 14,760 14,191 569 4.0%Funds from operations available to common stockholders and Non-controlling OP Unitholders - basic $ 16,220 $ 11,138 $ 5,082 45.6%Add: Convertible senior common distributions 170 177 (7) (4.0)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted $ 16,390 $ 11,315 $ 5,075 44.9%Add: Series D Preferred Stock offering costs write off - 2,141 (2,141) (100.0)%Funds from operations available to common stockholders and Non-controlling OP Unitholders - diluted, as adjusted for comparability $ 16,390 $ 13,456 $ 2,934 21.8% Funds from operations available to com...

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