Gladstone Commercial: 2Q Earnings Snapshot
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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.
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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.
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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.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on GOOD at https://www.zacks.com/ap/GOOD