Overview
Gladstone Q3 operating revenue grows 3.3%, beating analyst expectations
Net income for Q3 beats analyst estimates despite decline from prior quarter
Company acquired six-facility portfolio and sold non-core property
Outlook
Gladstone Commercial did not provide specific future guidance in the statement
Result Drivers
PROPERTY ACQUISITIONS - Co acquired a six-facility portfolio, contributing to increased operating revenue
RENT COLLECTION - Co collected 100% of cash rents due during Q3
CAPITAL RECYCLING - Sale of non-core property aligns with capital recycling strategy
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Revenue | Beat | $40.84 mln | $40.10 mln (4 Analysts) |
Q3 Net Income | Beat | $4.13 mln | $4.07 mln (4 Analysts) |
Q3 Operating Expenses | -$26.02 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 $14.50, about 21.2% above its October 31 closing price of $11.43
The stock recently traded at 50 times the next 12-month earnings vs. a P/E of 48 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@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.)
