Gladstone Commercial: 2Q Earnings Snapshot

MCLEAN, Va. (AP) _ Gladstone Commercial Corp. (GOOD) on Tuesday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.

The McLean, Virginia-based real estate investment trust said it had funds from operations of $12.2 million, or 38 cents per share, in the period.

The average estimate of four 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 $616,000, or 2 cents per share.

The real estate investment trust posted revenue of $28.2 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $28.5 million.

The company’s shares have climbed 19% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $21.36, an increase of roughly 10% in the last 12 months.


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