Business
Gladstone Commercial Corporation Reports Results for the First Quarter Ended March 31, 2026
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 / May 5, 2026 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial" ...
About this update from Gladstone Commercial Corporation - Real Estate Investment Trust
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 / May 5, 2026 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial" or the "Company") today reported financial results for the first quarter ended March 31, 2026. A description of funds from operations, or FFO, and Core FFO, both 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): (1) Includes one property classified as held for sale of $12.0 million and 161,458 square feet.(2) Includes one property and a portion of a land parcel classified as held for sale of $12.2 million and 161,458 square feet, in the aggregate. First Quarter Activity: First Quarter 2026 Results: Core FFO available to common shareholders and Non-controlling OP Unitholders for the three months ended March 31, 2026 was $17.0 million, a 4.7% decrease when compared to the three months ended December 31, 2025, equaling $0.35 per share. Core FFO decreased primarily due to a lease termination fee and proceeds from an easement settlement recognized in the prior period, partially offset by a lower net incentive fee in the current period and a decrease in interest expense from deferred financing fees written off in the prior period as part of the credit facility recast. Net income available to common stockholders and Non-controlling OP Unitholders for the three months ended March 31, 2026 was $3.8 million, or $0.08 per share, compared to net income available to common stockholders and Non-controlling OP Unitholders for the three months ended December 31, 2025 of $2.2 million, or $0.05 per share. In the Summary Information table above, we provide a reconciliation of Core FFO to net income (which we believe is the most directly comparable GAAP measure to Core FFO) for the th...