Stonegate Capital Partners Updates 4Q24 Report on Gladstone Commercial Corp. (GOOD)

Rhea-AI Summary

Gladstone Commercial (NASDAQ: GOOD) reported its fourth quarter 2024 financial results. The company achieved revenue of $37.4 million, slightly below consensus estimates of $38.0 million. Core FFO per share was $0.35, compared to $0.38 in Q3 2024, with the decrease primarily attributed to a property settlement.

The company demonstrated strong operational performance with 98.7% occupancy levels and achieved 100% rent collection year-to-date. Notably, GOOD's liquidity position improved significantly, showing a 57.1% year-over-year increase.

Positive

• 98.7% occupancy rate maintained
• 100% rent collection rate YTD
• 57.1% year-over-year increase in liquidity position

Negative

• Core FFO declined from $0.38 in Q3 2024 to $0.35 in Q4 2024
• Revenue of $37.4M missed consensus estimates of $38.0M

Dallas, Texas--(Newsfile Corp. - February 20, 2025) - Gladstone Commercial Corporation.(NASDAQ: GOOD): Stonegate Capital Partners Updates Coverage on Gladstone Commercial Corp. (NASDAQ: GOOD). GOOD reported revenue, FFO per share, and AFFO per share of $37.4M, $0.35, and $0.23, respectively. This compares to our/consensus estimates of $38.6M/$38.0M, $0.34/$0.35, and $0.31/$0.28. Core FFO for the quarter was $0.35 per share, down from $0.38 in 3Q24. This was primarily driven by a settlement received at one property.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• Liquidity position increased 57.1% y/y.
• Fundamentals remain strong with 98.7% occupancy levels.
• 100% of rents collected in YTD.

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241631

FAQ

What was Gladstone Commercial's (GOOD) Q4 2024 revenue?

Gladstone Commercial reported Q4 2024 revenue of $37.4 million, below consensus estimates of $38.0 million.

How did GOOD's Core FFO per share change in Q4 2024 compared to Q3 2024?

GOOD's Core FFO decreased from $0.38 per share in Q3 2024 to $0.35 per share in Q4 2024.

What was Gladstone Commercial's (GOOD) occupancy rate in Q4 2024?

Gladstone Commercial maintained a strong occupancy rate of 98.7% in Q4 2024.

How much did GOOD's liquidity position improve year-over-year?

GOOD's liquidity position increased by 57.1% compared to the previous year.

What was GOOD's rent collection rate in 2024?

Gladstone Commercial achieved a 100% rent collection rate year-to-date in 2024.