Gladstone commercial corp (GOODO)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Operating revenues
Lease revenue

114,387

106,798

94,799

84,498

80,892

71,211

59,769

50,915

43,632

41,180

41,514

Tenant recovery revenue

-

-

-

1,489

1,753

2,079

1,574

355

344

327

335

Interest income from mortgage note receivable

-

-

-

385

1,121

466

-

-

-

421

760

Total operating revenues

114,387

106,798

94,799

86,372

83,766

73,756

61,343

51,270

43,976

41,928

42,609

Operating expenses
Depreciation and amortization

52,039

47,620

42,795

37,517

35,288

28,864

22,827

16,831

14,149

13,264

13,161

Property operating expenses

12,592

11,458

7,688

5,889

5,296

4,711

3,348

1,588

986

971

915

Acquisition related expenses

-

-

-

-

-

1,438

768

949

700

412

41

Base management fee

5,200

5,054

5,000

3,930

3,474

2,798

2,014

1,467

1,629

1,199

1,401

Incentive fee

3,688

3,000

2,422

2,381

4,650

4,305

4,201

3,569

3,398

3,480

3,239

Administration fee

1,690

1,600

1,272

1,474

1,419

1,526

1,467

1,118

1,024

1,063

1,016

General and administrative

3,235

2,358

2,366

2,388

2,716

2,689

1,655

1,594

1,497

3,408

1,494

Asset Impairment Charges

1,800

0

6,835

2,016

622

14,238

-

-

-

-

-

Total operating expenses before credit to incentive fee

-

-

-

-

53,465

60,569

36,280

27,116

23,383

23,797

21,267

Credit to base management fee

-

-

-

-

-

150

-

-

-

225

-

Credit to incentive fee

-

-

-

-

2,500

3,013

3,457

2,221

2,113

158

726

Total operating expenses

80,231

71,137

68,337

55,595

50,965

57,406

32,823

24,895

21,270

23,414

20,541

Other (expense) income
Interest expense

28,279

26,172

24,570

25,902

28,014

26,197

24,351

20,226

17,076

17,063

17,895

Distributions attributable to Series C Preferred Stock

-

-

-

1,502

2,743

-2,743

-

-

-

-

-

(Loss) gain on sale of real estate, net

2,952

2,763

3,993

242

1,538

1,240

-

-

-

-

160

Gain on debt extinguishment

-

-

-

-

-

5,274

-

-

-

-

-

Interest income - employee loans

-

-

-

-

-

-

-

-

-

-

192

Other income

712

72

52

343

14

174

101

127

84

3,477

35

Total other expense, net

-24,615

-23,337

-20,525

-26,819

-29,205

-22,252

-26,993

-22,614

-16,992

-13,586

-17,668

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

9,541

12,324

5,937

3,958

-

-

-

-

-

-

-

Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders

-87

4

0

0

-

-

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

-

-

-

-

-

4,400

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

43

Total discontinued operations

-

-

-

-

-

-

-

-

-

-

203

Net income attributable to the Company

9,628

12,320

5,937

3,958

3,596

-5,902

1,527

3,761

5,714

4,928

4,603

Distributions attributable to Series A, B, D, and E preferred stock

10,822

10,416

9,890

6,645

4,094

4,094

-

-

-

4,094

4,094

Series A and B Preferred Stock offering costs write off

2,674

0

0

-

-

-

-

-

-

-

-

Distributions attributable to senior common stock

892

931

986

1,011

1,007

542

300

113

62

20

-

Net (loss) income (attributable) available to common stockholders

-4,760

973

-4,939

-3,698

-1,505

-10,538

-2,867

-445

1,558

814

509

(Loss) earnings per weighted average share of common stock - basic & diluted
Loss from continuing operations (net of dividends attributable to preferred stock)

-

-

-

-

-

-

-

-

0.15

0.09

0.04

Discontinued operations

-

-

-

-

-

-

-

-

-

-

0.02

(Loss) earnings (attributable) available to common shareholders (in dollars per share)

-0.16

0.03

-0.19

-0.16

-0.07

-0.61

-0.22

-0.04

0.15

0.09

0.06

Weighted average shares of common stock outstanding
Basic and Diluted (in shares)

30,695

28,675

26,358

23,193

21,159

-

-

10,953

-

-

-

Distributions declared per common share (in dollars per share)

1.50

1.50

1.50

1.50

1.50

-

-

-

-

-

-

Basic (in shares)

-

-

-

-

-

17,253

13,164

-

10,236

8,576

8,563

Diluted (in shares)

-

-

-

-

-

17,253

13,164

-

10,288

8,601

8,563

Earnings per weighted average share of senior common stock (in dollars per share)

1.05

1.05

1.05

1.05

1.05

1.05

1.04

1.06

1.05

0.81

-

Weighted average shares of senior common stock outstanding - basic (in shares)

849

887

938

960

960

516

287

106

59

25

0

Comprehensive income
Change in unrealized loss related to interest rate hedging instruments, net

-1,978

-183

35

0

0

-

-

-

-

-

-

Other Comprehensive Income (Loss), Net of Tax

-1,978

-183

35

0

0

-

-

-

-

-

-

Net income

9,628

12,320

5,937

3,958

3,596

-

-

-

-

-

-

Comprehensive (loss) income

7,563

12,141

5,972

3,958

3,596

-

-

-

-

-

-

Comprehensive loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders

-87

4

0

0

-

-

-

-

-

-

-

Total comprehensive (loss) income (attributable) available to the Company

7,650

12,137

5,972

3,958

-

-

-

-

-

-

-