Gladstone Commercial Q3 revenue slightly misses on higher property expenses

Gladstone Commercial

Yesterday 21:16

Overview
U.S. real estate investment trust's Q3 operating revenue slightly missed analyst expectations
Net income swung to a loss in Q3
Core FFO fell 7.8% from prior quarter due to higher property and interest expenses

Outlook
Company did not provide specific guidance for future quarters or the full year in its press release

Result Drivers
HIGHER PROPERTY EXPENSES - Co said increased property expenses contributed to lower Core FFO in Q3
HIGHER INTEREST EXPENSE - Co attributed higher interest expense to an increase in the SOFR rate
LEASE TERMINATION FEE - Co said a lease termination fee from a property sold in the previous period reduced Core FFO

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Operating Revenue
Slight Miss*
$42.42 mln
$42.72 mln (3 Analysts)
Q3 Net Income
 
-$2.06 mln
 
Q3 Operating Expenses
 
$32.92 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 $14.16, about 22.3% above its November 2 closing price of $11.58
The stock recently traded at 56 times the next 12-month earnings vs. a P/E of 58 three months ago

Reuters Recommended Reads
Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook
Nov 2 - Independence Realty Trust Q3 adjusted EBITDA beats estimates; reaffirms FY guidance
Nov 2 - Acadia Realty Trust Q3 revenue beats estimates, FFO rises

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.)