← GLADSTONE COMMERCIAL CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Total Revenue $86.4m $94.8m $106.8m $114.4m $133.2m $137.7m $149.0m $147.6m $149.4m $161.3m
Property operating expenses $5.9m $7.7m $11.5m $12.6m $26.0m $27.1m $26.8m $25.9m $25.4m $28.6m
Operating Expenses $55.6m $68.3m $71.1m $80.2m $99.9m $102.8m $117.8m $116.1m $102.8m $101.4m
Total operating expenses $55.6m $68.3m $71.1m $80.2m $99.9m $102.8m $117.8m $116.1m $102.8m $101.4m
Additional Financial Items
Amortization of Intangible Assets $13.4m $15.9m $17.7m $19.2m $19.4m $20.7m $19.1m $16.7m $16.3m $16.0m
Lease Income $86.4m $94.8m $106.8m $114.4m $133.2m $137.7m $149.0m $147.6m $149.4m $161.3m
Sales-type Lease, Selling Profit (Loss) — — — — — — — — $3.9m —
Lease revenue $86.4m $94.8m $106.8m $114.4m $133.2m $137.7m $149.0m $147.6m $149.4m $161.3m
Depreciation and amortization $37.5m $42.8m $47.6m $52.0m $55.4m $60.3m $61.7m $57.9m $55.8m $58.2m
Base management fee $3.9m $5.0m $5.1m $5.2m $5.6m $5.9m $6.3m $6.4m $6.1m $6.6m
Incentive fee $2.4m $2.4m $3.0m $3.7m $4.3m $4.9m $5.3m $0 $4.5m $2.8m
Administration fee $1.5m $1.3m $1.6m $1.7m $1.6m $1.4m $1.9m $2.4m $2.6m $2.6m
General and administrative $2.1m $2.4m $2.4m $3.2m $3.3m $3.2m $3.7m $4.4m $3.9m $4.0m
Impairment charge $2.0m $6.8m $0 $1.8m $3.6m $0 $12.1m $19.3m $6.8m $9k
Incentive fee waiver — — — $0 $0 ($16k) $0 $0 ($2.3m) ($1.5m)
Gain on sale of real estate, net $242k $4.0m $2.8m $3.0m $8.1m ($1.1m) $10.1m $7.7m $14.2m $367k
Gain on debt extinguishment, net $0 — — — — $0 $0 $2.8m $300k $0
Net (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders $0 $0 ($4k) $87k ($47k) $40k $23k $63k ($42k) ($6k)
Distributions attributable to Series E, F, and G preferred stock ($6.6m) ($9.9m) ($10.4m) ($10.8m) ($11.0m) ($11.5m) ($11.9m) ($12.3m) ($12.4m) ($12.3m)
Distributions attributable to senior common stock ($1.0m) ($986k) ($931k) ($892k) ($816k) ($698k) ($458k) ($430k) ($420k) ($406k)
Gain (loss) on extinguishment of Series F preferred stock, net — — — — $0 $0 ($10k) ($11k) ($14k) $10k
Gain on repurchase of Series G preferred stock — — — — $0 $0 $37k $3k $0 $0
Basic (in shares) $23.2m 26.4m 28.7m $30.7m $34.0m $36.5m $39.0m $39.9m $41.8m $46.5m
Diluted (in shares) $23.2m 26.4m 28.7m $30.7m $34.0m $36.5m $39.0m $39.9m $41.8m $46.5m
Change in unrealized (loss) gain related to interest rate hedging instruments, net $0 $35k ($183k) ($2.0m) ($2.2m) $2.9m $12.1m ($4.9m) $2.7m ($7.3m)
Other comprehensive (loss) income $0 $35k ($183k) ($2.0m) ($2.2m) $2.9m $12.1m ($4.9m) $2.7m ($7.3m)
Comprehensive (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders $0 $0 ($4k) $87k ($47k) $40k $23k $63k ($42k) ($6k)
Total comprehensive income available to the Company $4.0m $6.0m $12.1m $7.7m $12.7m $12.6m $21.4m $132k $26.7m $11.9m
Net income available to the Company $4.0m $5.9m $12.3m $9.6m $14.9m $9.8m $9.3m $5.0m $24.0m $19.3m
Net Income (Loss) Attributable to Parent $4.0m $5.9m $12.3m $9.6m $14.9m $9.8m $9.3m $5.0m $24.0m $19.3m
Net Income (Loss) Available to Common Stockholders, Basic ($3.7m) ($4.9m) $973k ($4.8m) $3.1m ($4.6m) ($3.0m) ($7.7m) $11.1m $6.6m
Net Income (Loss) Attributable to Noncontrolling Interest — — $4k ($87k) $47k ($40k) ($23k) ($63k) $42k $6k
Earnings Per Share, Basic ($0.16) ($0.19) $0.03 ($0.16) $0.09 ($0.12) ($0.08) ($0.19) $0.27 $0.14
Earnings Per Share, Diluted ($0.16) ($0.19) $0.03 ($0.16) $0.09 ($0.12) ($0.08) ($0.19) $0.27 $0.14
Common Stock, Dividends, Per Share, Declared $1.05 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.20 $1.20 $1.20
Weighted Average Number of Shares Outstanding, Basic 23.2m 26.4m 28.7m 30.7m 34.0m 36.5m 39.0m 39.9m 41.8m 46.5m
Weighted average shares of senior common stock outstanding - basic (in shares) 961k 939k 887k 849k 775k 665k 437k 410k 399k 387k
Weighted Average Number of Shares Outstanding, Diluted 23.2m 26.4m 28.7m 30.7m 34.0m 36.5m 39.0m 39.9m 41.8m 46.5m
Other income (expense):
General and Administrative Expense $2.1m $2.4m $2.4m $3.2m $3.3m $3.2m $3.7m $4.4m $3.9m $4.0m
Other Nonoperating Income (Expense) — — — — — — — $204k $326k $892k
Business Combination, Acquisition Related Costs $261k — — — — — — — — —
Management Fee Expense — — — — — — — $6.4m $6.1m $6.6m
Interest Expense (non-operating) — — — — — — — — $37.4m $41.9m
Interest Expense $25.9m $24.6m $26.2m $28.3m $26.8m $26.9m $32.5m $37.3m ($37.4m) ($41.9m)
Nonoperating Income (Expense) ($26.8m) ($20.5m) ($23.3m) ($24.6m) ($18.3m) ($25.2m) ($22.0m) ($26.6m) ($22.5m) ($40.7m)
Total operating expense before incentive fee waiver — — — $80.2m $99.9m $102.8m $117.8m $116.1m $105.1m $102.9m
Total other (expense) income, net ($26.8m) ($20.5m) ($23.3m) ($24.6m) ($18.3m) ($25.2m) ($22.0m) ($26.6m) ($22.5m) ($40.7m)

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.