Gladstone Commercial Reports Fourth Quarter and Year-End 2024 Results

Gladstone Commercial Corporation, listed on Nasdaq under the symbol GOOD, released its financial results for Q4 and the fiscal year ending December 31, 2024. The company announced that total operating revenue for Q4 was $37,375,000, a decrease of 4.7% from the previous quarter. Operating expenses for the quarter, however, fell by 12.5%, amounting to $24,974,000.

The net income for the quarter was $7,193,000, experiencing a 38.6% decline from Q3. Despite this decrease, the dividends attributed to preferred and senior common stock remained unchanged. In terms of funds from operations (FFO), there was a reduction, with diluted funds available falling by 5.6% to $15,286,000.

Real estate holdings before depreciation stood at $1,219,918,000, slightly decreasing by 1.5% compared to the previous quarter. The company's total assets were reported at $1,094,348,000, marking a minor decline of 0.2%. Mortgage notes payable and other borrowings were relatively stable at $693,385,000.