Gladstone Commercial Q2 FY26 net income climbs 18.6% to 8.27 million; revenue rises 5% to 43.99 million
GOOD•Property transactions and leasing activity
Quarter activity included buying a fully occupied industrial property for $22.8 million, selling one industrial asset for $12.9 million, and leasing or renewing 160,435 square feet.
Quarterly results improve on higher revenue and FFO
Gladstone Commercial posted Q2 net income of $8.27 million, up 18.6% from Q1; net income available to common holders rose 33.7% to $5.13 million.
Total operating revenue climbed 5% to $43.99 million; FFO available to common holders increased 7.9% to $18.29 million, or $0.38 per diluted share.
Core FFO (non-GAAP) rose 7.7% to $18.33 million, or $0.38 per diluted share, due to a lease termination fee on a property sold.
Management comments on cash collection and portfolio strategy
CEO Buzz Cooper cited stabilized revenues, 100% cash rent collection through July, and plans to keep recycling non-core assets to de-lever and fund industrial acquisitions.
