MCLEAN, Va. – MCLEAN, Va. (AP) _ Gladstone Commercial Corp. (GOOD) on Tuesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The real estate investment trust, based in McLean, Virginia, said it had funds from operations of $11.9 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 39 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 $170,000, or 1 cent per share.
The real estate investment trust posted revenue of $26.6 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $26.9 million.
The company's shares have declined 11 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.77, a drop of 14 percent in the last 12 months.
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