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Gladstone Commercial Corp (GOOD)
NASDAQ:GOOD
Holding GOOD?
Track your performance easily
Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.08Last Year’s EPS
$0.03Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 1.41%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance and strategic focus on industrial real estate, with significant progress in leasing and asset management. Despite challenges in the industrial market and interest rate pressures, the company has shown resilience and adaptability.Company Guidance
During Gladstone Commercial Corporation's third-quarter 2024 earnings call, key guidance focused on the company's strategic shifts and financial performance. The executives highlighted a significant increase in industrial asset concentration, rising from 62% to 63% of annualized straight-line rent, while office assets decreased from 34% to 33%. The company successfully leased or extended leases for over 242,000 square feet across five assets, achieving a weighted average lease term of 7.2 years and realizing more than $100,000 in straight-line rent increases. The management reported total operating revenues of $39.3 million against operating expenses of $28.5 million. Notably, FFO and core FFO were both at $0.38 per share, reflecting an improvement from the previous year. The call also highlighted strategic sales, including two medical office assets in Georgia, resulting in a $10.3 million gain. Looking ahead, the company aims to exceed 70% industrial asset concentration within the next 12 months, leveraging office sale proceeds to fund new industrial acquisitions.Industrial Real Estate Growth
Increased industrial concentration from 62% to 63% of annualized straight-line rent, and decreased office from 34% to 33%. Successfully leased or extended more than 242,000 square feet across 5 assets for an average of 7.2 years. Acquired industrial asset in Midland, Texas for $10 million with a 9.94% cap rate and a 15-year term.
Strong Financial Performance
FFO and core FFO per share increased to $0.38 from $0.33 and $0.34 respectively in Q3 2023. Same-store rents increased by 10.2% due to a settlement related to deferred maintenance.
High Occupancy and Rent Collection
Achieved 100% rent collection and maintained a portfolio occupancy of 98.5%.
Successful Asset Disposition
Sold two medical office assets in Georgia, resulting in more than $10.3 million in gain on sale.
Liquidity Position
As of September 30, liquidity was $80.7 million, including $70.2 million from the credit facility and $10.5 million in cash.
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GOOD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GOOD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $15.82 | $16.83 | +6.38% |
| Aug 06, 2024 | $13.92 | $14.09 | +1.22% |
| May 06, 2024 | $12.91 | $13.67 | +5.89% |
| Feb 21, 2024 | $11.69 | $11.70 | +0.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gladstone Commercial Corp (GOOD) report earnings?
Gladstone Commercial Corp (GOOD) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Gladstone Commercial Corp (GOOD) earnings time?
Gladstone Commercial Corp (GOOD) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GOOD EPS forecast?
GOOD EPS forecast for the fiscal quarter 2024 (Q4) is $0.08.
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