Gladstone Commercial: 3Q Earnings Snapshot
{{#rendered}} {{/rendered}}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.
{{#rendered}} {{/rendered}}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.
{{#rendered}} {{/rendered}}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.
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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