Gladstone Commercial Corporation Releases Q3 2024 Results

Gladstone Commercial Corporation reported its financial performance for the third quarter ending September 30, 2024. The company's total operating revenue increased by 5.9%, reaching $39,235,000, while operating expenses saw a 9.9% rise totaling $28,546,000. A significant improvement was evident in the net income, which surged by 632.6% to $11,721,000. Notably, net income attributable to common stockholders and Non-controlling OP Unitholders showed a substantial upswing to $8,511,000.

Funds from operations (FFO) for common stockholders and Non-controlling OP Unitholders grew by 11.4% in basic terms, reaching $16,084,000. Core funds from operations also observed a similar increase, indicating a stable financial performance. Despite these gains, cash dividends per share remained unchanged at $0.30.