Gladstone Commercial Pref Share GOOD 6.625 Prep 10/31/24 E | 8-K: FY2025 Q1 Revenue: USD 37.5 M

Revenue: As of FY2025 Q1, the actual value is USD 37.5 M.

EPS: As of FY2025 Q1, the actual value is USD 0.04.

Financial Metrics Summary

Segment Revenue

• Total operating revenue for the three months ended March 31, 2025, was $37,501,000, a slight increase of 0.3% from $37,375,000 for the three months ended December 31, 2024.

Operational Metrics

• Total operating expenses decreased by 4.5% to $23,858,000 from $24,974,000 in the previous quarter.
• Net income for the quarter was $5,136,000, a decrease of 28.6% from $7,193,000 in the previous quarter.
• Net income available to common stockholders and Non-controlling OP Unitholders was $1,917,000, down 51.8% from $3,974,000 in the previous quarter.

Cash Flow

• Funds from operations (FFO) available to common stockholders and Non-controlling OP Unitholders - basic was $15,160,000, a decrease of 0.1% from $15,182,000 in the previous quarter.
• Core funds from operations (Core FFO) available to common stockholders and Non-controlling OP Unitholders - basic was $15,194,000, a decrease of 0.1% from $15,216,000 in the previous quarter.

Unique Metrics

• Acquired six fully-occupied properties totaling 355,778 square feet for $73.7 million at a weighted average cap rate of 8.39%.
• Collected 100% of cash rents due during the first quarter and in April.

Outlook / Guidance

• Gladstone Commercial anticipates continued access to debt and equity markets for liquidity and plans to focus on industrial property investments in target growth markets. The company expects to face challenges due to economic uncertainties but remains confident in tenant credit underwriting and anticipates positive outcomes from marketing vacant spaces.