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Q3 FFO and core FFO were $0.35 per share, unchanged year over year. Revenue rose to $42.4 million from $40.8 million, while expenses increased to $32.9 million, partly due to depreciation and an office-property impairment.
Portfolio occupancy improved to 99.3%, and industrial ******* ets made up 69% of annualized straight-line rent, nearing the company's goal of more than 70%. Leasing activity during the quarter added approximately $2.5 million in annual straight-line rent.
Higher interest rates and a gap between buyer and seller pricing are limiting acquisitions; the company is reviewing about 15 opportunities worth more than $200 million but says it will maintain its underwriting standards. It reported $99.9 million of debt maturities in 2027 and $70.2 million available on its credit line.
Gladstone Commercial (NASDAQ:GOOD) reported third-quarter funds from operations and core funds from operations of $0.35 per share, unchanged from the same period a year earlier, as the real estate investment trust increased portfolio occupancy and continued to emphasize industrial properties.
#year #increased
Q3 FFO and core FFO were $0.35 per share, unchanged year over year. Revenue rose to $42.4 million from $40.8 million, while expenses increased to $32.9 million, partly due to depreciation and an office-property impairment.
Portfolio occupancy improved to 99.3%, and industrial ******* ets made up 69% of annualized straight-line rent, nearing the company's goal of more than 70%. Leasing activity during the quarter added approximately $2.5 million in annual straight-line rent.
Higher interest rates and a gap between buyer and seller pricing are limiting acquisitions; the company is reviewing about 15 opportunities worth more than $200 million but says it will maintain its underwriting standards. It reported $99.9 million of debt maturities in 2027 and $70.2 million available on its credit line.
Gladstone Commercial (NASDAQ:GOOD) reported third-quarter funds from operations and core funds from operations of $0.35 per share, unchanged from the same period a year earlier, as the real estate investment trust increased portfolio occupancy and continued to emphasize industrial properties.
#year #increased
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