Gladstone Commercial: 2Q Earnings Snapshot
MCLEAN, Va. (AP) _ Gladstone Commercial Corp. (GOOD) on Monday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The McLean, Virginia-based real estate investment trust said it had funds from operations of $11.7 million, or 40 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 40 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $317,000, or 1 cent per share.
The real estate investment trust posted revenue of $26.6 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $26.5 million.
The company’s shares have declined nearly 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $19.46, a fall of 9 percent in the last 12 months.