---
schema_version: "secwatch.filing_event.v1"
accession: "0001234006-24-000004"
form_type: "8-K"
ticker: "GOOD"
cik: "0001234006"
company_name: "GLADSTONE COMMERCIAL CORP"
filed_at: "2024-02-21T23:59:59+00:00"
generated_at: "2026-06-05T21:44:36.129866+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gladstone Commercial Q4 FFO $0.36; FY23 core FFO $1.47; annual dividend cut 20% to $1.20

## Summary
- Q4 total operating revenue $35.9M (-1.5% QoQ); net income $4.6M vs $1.8M prior Q.
- FY23 net loss attributable to common stockholders $7.8M vs loss $1.6M in FY22.
- FY23 core FFO per share $1.47, down 5.8% YoY; FFO per share $1.46, down 5.2%.
- Annual cash dividend cut 20% to $1.20 per share for FY23; monthly dividend held at $0.30 through March 2024.
- Acquired five properties for $29.5M at 9.56% cap rate; sold seven for $39.6M; portfolio 96.8% leased.

## SEC filing metadata
- accession: 0001234006-24-000004
- form_type: 8-K
- ticker: GOOD
- cik: 0001234006
- company_name: GLADSTONE COMMERCIAL CORP
- filed_at: 2024-02-21T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1234006/000123400624000004/0001234006-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1234006/000123400624000004/good-20240221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001234006-24-000004
- JSON: https://secwatch.observer/filing/0001234006-24-000004.json
- Plain text: https://secwatch.observer/filing/0001234006-24-000004.txt

## Key facts
- Earnings Releases
  GLADSTONE COMMERCIAL CORP reported the year ended December 31, 2023 results: revenue $147,584, net income $4,922.
  - Period: the year ended December 31, 2023
  - Revenue: $147,584
  - Net income: $4,922
  - Result: reported results
  source text: As of and for the year ended December 31, 2023 December 31, 2022 $ Change % Change Operating Data: Total operating revenue $ 147,584 $ 148,981 $ (1,397) (0.9) % Total operating expenses (116,103) (1) (116,248) (4) 145 (0.1) % Other expense, net (26,559) (2) (21,951) (5) (4,608) 21.0 % Net income $ 4,922 $ 10,782 $ (5,860) (54.3) % Less: Dividends attributable to preferred stock (12,285) (11,903) (382) 3.2 % Less: Dividends attributable to senior common stock (430) (458) 28 (6.1) % Less: Loss on extinguishment of Series F preferred stock (11) (10) (1) 10.0 % Add: Gain on repurchase of Series G preferred stock 3 37 (34) (91.9) % Net loss attributable to common stockholders and Non-controlling OP Unitholders $ (7,801) $ (1,552) $ (6,249) 402.6 % Add: Real estate depreciation and amortization 57,856 60,154 (2,298) (3.8) % Add: Impairment charge 19,296 12,092 7,204 59.6 % Less: Gain on sale of real estate, net (7,737) (10,052) 2,315 (23.0) % Less: Gain on debt extinguishment, net (2,830) —
  evidence_url: https://www.sec.gov/Archives/edgar/data/1234006/000123400624000004/0001234006-24-000004-index.htm
- Earnings Releases
  GLADSTONE COMMERCIAL CORP reported the three months ended December 31, 2023 results: revenue $35,908, net income $4,551, EPS 0.03.
  - Period: the three months ended December 31, 2023
  - Revenue: $35,908
  - Net income: $4,551
  - EPS: 0.03
  - Result: reported results
  source text: As of and for the three months ended December 31, 2023 September 30, 2023 $ Change % Change Operating Data: Total operating revenue $ 35,908 $ 36,464 $ (556) (1.5) % Total operating expenses (28,136) (1) (29,587) (4) 1,451 (4.9) % Other expense, net (3,221) (2) (5,085) (5) 1,864 (36.7) % Net income $ 4,551 $ 1,792 $ 2,759 154.0 % Less: Dividends attributable to preferred stock (3,106) (3,099) (7) 0.2 % Less: Dividends attributable to senior common stock (107) (108) 1 (0.9) % Add/Less: Gain (loss) on extinguishment of Series F preferred stock 1 (1) 2 (200.0) % Net income (loss) available (attributable) to common stockholders and Non-controlling OP Unitholders $ 1,339 $ (1,416) $ 2,755 (194.6) % Add: Real estate depreciation and amortization 13,731 12,485 1,246 10.0 % Add: Impairment charge 5,719 6,754 (1,035) (15.3) % Less: Gain on sale of real estate, net (3,492) (4,696) 1,204 (25.6) % Less: Gain on debt extinguishment, net (2,830) — (2,830) 100.0 % Funds from operations available to c
  evidence_url: https://www.sec.gov/Archives/edgar/data/1234006/000123400624000004/0001234006-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.