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Gladstone Commercial Q4 operating revenue beats estimates

Overview

Real estate investment firm's Q4 operating revenue beat analyst expectations

Net income for Q4 beat analyst expectations

Operating expenses rose 1.3% compared to the previous quarter

Outlook

Gladstone Commercial did not provide specific guidance for future quarters or the full year in press release

Result Drivers

REVENUE GROWTH - Operating revenue increased by 6.4% to $43.5 mln, driven by real estate investments

NET INCOME INCREASE - Net income rose 30.1% to $5.4 mln, aided by gains on extinguishment of preferred stock

HIGH OCCUPANCY - Maintained high occupancy rate with 99.1% of square feet leased

Key Details

MetricBeat/MissActualConsensus Estimate
Q4 Operating RevenueBeat$43.46 mln$41.23 mln (5 Analysts)
Q4 Net IncomeBeat$5.38 mln$1.78 mln (3 Analysts)
Q4 Operating Expenses-$26.37 mln
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the diversified reits peer group is "buy" Wall Street's median 12-month price target for Gladstone Commercial Corp is $13.00, about 10.9% above its February 17 closing price of $11.72 The stock recently traded at 78 times the next 12-month earnings vs. a P/E of 50 three months ago For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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