NASDAQ$GOOD
Gladstone Commercial Corp · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Reported financial results, showing a Core FFO increase due to lease revenue from acquisitions and lease acceleration, offset by increased interest expense.
Gladstone Commercial Corporation reported a net loss attributable to common stockholders of $3.0 million, or $0.08 per share. Core FFO available to common shareholders was $15.4 million, a 14.8% increase compared to the previous quarter, equating to $0.42 per share.
- Collected 98% of cash rents owed during the first quarter 2021.
- Acquired a 180,152 square foot industrial facility in Findlay, Ohio for $11.1 million, which is 100% leased to one tenant for 14.2 years.
- Sold two non-core properties as part of capital recycling strategy for $5.5 million.
- Leased 189,210 vacant square feet with a 5.2 year lease term at one property.
Headline financials
Revenue & EPS history
Gladstone Commercial · Revenue · Quarterly
$34.7M
Forward guidance
The company anticipates tenants will successfully navigate the current economic climate and will be able to continue operating successfully when operating restrictions are lifted and economic normalcy improves. The company expects to continue to have access to the debt and equity markets, as necessary, for added liquidity.
Tailwinds
- Same store rents, which have increased by 2% annually in recent years, should be stable and rising as we continue our growth.
- Focus on investing in target markets, with an emphasis on industrial properties and actively managing our portfolio.
- Remain in good standing on credit facility, which continues to provide added flexibility on balance sheet.
- Continue capital recycling program, whereby non-core assets are sold and the proceeds are used to de-lever the portfolio and acquire properties in target growth markets.
- Actively marketing remaining vacant space and anticipate positive outcomes.
Headwinds
- Expect to face challenges due to the COVID-19 pandemic.
- Downturns in the current economic environment.
- The performance of tenants.
- The impact of competition on efforts to renew existing leases or re-lease space.
- Significant changes in interest rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.7%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+1.2%
Avg return
30 days after
50%
32 / 64 earnings
Positive
+20.3%
Q1 2020
Best reaction
-6.5%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | -2.6% | -0.9% | |
| Q4 2025 | +5.0% | +9.4% | +2.3% | |
| Q3 2025 | +0.6% | -4.2% | -5.0% | |
| Q1 2025 | -0.4% | +3.8% | +4.6% | |
| Q4 2024 | +0.1% | -1.9% | -8.2% | |
| Q3 2024 | +9.4% | +10.5% | +12.0% | |
| Q2 2024 | +3.7% | +4.7% | +8.4% | |
| Q1 2024 | +6.2% | +8.8% | +7.0% | |
| Q4 2023 | +1.0% | -0.4% | +8.0% | |
| Q3 2023 | -4.3% | -5.5% | +5.8% | |
| Q2 2023 | +3.6% | +2.8% | -4.8% | |
| Q1 2023 | -0.3% | -3.2% | +1.9% | |
| Q4 2022 | -5.9% | -10.4% | -22.7% | |
| Q3 2022 | +1.9% | +9.4% | +10.8% | |
| Q2 2022 | -1.7% | -4.3% | -9.0% | |
| Q1 2022 | -2.4% | -8.7% | -4.5% | |
| Q4 2021 | +3.0% | +0.8% | +1.1% | |
| Q3 2021 | +1.2% | +3.5% | +0.3% | |
| Q2 2021 | -1.8% | -1.0% | -2.8% | |
| Q1 2021 | -2.1% | -2.0% | +6.8% | |
| Q4 2020 | -0.5% | -3.5% | +3.1% | |
| Q3 2020 | -1.1% | +12.3% | +12.9% | |
| Q2 2020 | +2.6% | +0.1% | +1.8% | |
| Q1 2020 | +20.3% | +13.5% | +18.3% | |
| Q4 2019 | -1.2% | -1.4% | -30.8% | |
| Q3 2019 | +3.7% | +4.1% | +0.2% | |
| Q2 2019 | -0.7% | -0.5% | +5.9% | |
| Q1 2019 | +4.7% | +1.9% | -1.1% | |
| Q4 2018 | +2.2% | +3.2% | +3.3% | |
| Q3 2018 | +2.0% | +1.2% | +2.6% | |
| Q2 2018 | +1.8% | +1.1% | +2.3% | |
| Q1 2018 | +4.2% | +5.1% | +8.4% | |
| Q4 2017 | -1.4% | +0.0% | +3.7% | |
| Q3 2017 | +5.6% | +4.3% | +6.5% | |
| Q2 2017 | -3.6% | -3.5% | -0.0% | |
| Q1 2017 | -6.5% | -7.2% | -6.5% | |
| Q4 2016 | +0.4% | +1.0% | -0.7% | |
| Q3 2016 | -6.0% | -3.4% | +5.3% | |
| Q2 2016 | +1.3% | +2.5% | +0.7% | |
| Q1 2016 | -1.0% | — | — | |
| Q4 2015 | +7.7% | — | — | |
| Q3 2015 | -3.5% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +2.0% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | -0.6% | — | — | |
| Q1 2014 | +0.9% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | +1.3% | — | — | |
| Q2 2013 | -1.6% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | +0.0% | — | — | |
| Q2 2012 | -1.8% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q3 2011 | -0.7% | — | — | |
| Q3 2010 | -0.7% | — | — | |
| Q2 2011 | -2.1% | — | — | |
| Q2 2010 | -2.1% | — | — | |
| Q4 2010 | -2.1% | — | — | |
| Q1 2011 | -0.4% | — | — | |
| Q1 2010 | +4.4% | — | — |
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