Financial Data and Key Metrics Changes - FFO and core FFO available to common stockholders were both $0.40 per share for Q4 2021, compared to $0.37 and $0.38 per share in Q4 2020 respectively [28] - Total operating revenues for Q4 2021 were $35.3 million, up from $32.9 million in the same period last year, while operating expenses increased to $25.4 million from $24.7 million [29] - Same-store cash rent grew by 3.2% overall in 2021 compared to 2020 [28] Business Line Data and Key Metrics Changes - The company acquired three industrial assets in Q4 2021 for a total investment of $53.8 million, focusing on industrial properties [37] - The industrial allocation in the portfolio increased from 33% to 51% since 2019, with a target of reaching 60% in the next 12 to 18 months [10] Market Data and Key Metrics Changes - Industrial vacancy rates remained low at 4% to 4.5%, with net absorption exceeding 100 million square feet per quarter in 2021 [22] - Office vacancy rates dropped to 16.6% in Q4 2021, marking the first decrease since mid-2019 [23] Company Strategy and Development Direction - The company aims to increase its industrial allocation and improve property operations while divesting non-core assets [8] - The acquisition pipeline currently stands at approximately $350 million, with a focus on industrial properties [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong performance and ability to navigate challenges posed by COVID-19 and supply chain disruptions [40] - The outlook for 2022 acquisitions is optimistic, with expectations to exceed $120 million based on current market conditions [44] Other Important Information - The company has maintained its common stock dividend at $0.3762 per share per quarter, with a distribution yield of 6.97% [35] - Institutional ownership of the stock has increased to 50.5% as of December 31 [34] Q&A Session Summary Question: What is the current acquisition pipeline? - The acquisition pipeline includes $32 million in due diligence and $100 million to $110 million in the letter of intent stage, with expectations for a significant portion to convert to contracts soon [43][44] Question: How are you thinking about dispositions this year? - The company aims to limit dispositions to $15 million to $20 million per year, but this could increase if significant capital gains opportunities arise [48] Question: What is the outlook for the Austin office asset? - The Austin asset has been refilled to over half of the building, generating approximately 90% of the previous cash flow, with ongoing interest from potential tenants [50][52] Question: What is the overall cap rate outlook for potential acquisitions? - The average cap rate for industrial properties is expected to be between 5.25% to 6%, consistent with 2021 levels [63] Question: What is the outlook for refinancing maturing debt? - Current interest rates are manageable, and refinancing is expected to be accretive given today's rates [75][77]

1.87.148 200.201.204 7.161.142 210.189.154 224.224.13 247.82.73 200.201.204 GLADSTONE COMMERCIAL 114.95.164Supplemental Financial & Operating Information for the Quarter Ended September 30, 2021 1 1.87.148 Legal disclaimer 200.201.204 7.161.142 210.189.154 114.95.164 224.224.13 247.82.73 200.201.204 Forward-Looking Statements: This presentation may include forward-looking statements within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. Forward-looking statements are typica ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q3 2021 Earnings Conference Call November 2, 2021 8:30 AM ET Company Participants Michael LiCalsi - General Counsel & Secretary David Gladstone - Chairman & CEO Bob Cutlip - President Gary Gerson - CFO & Assistant Treasurer Conference Call Participants Craig Kucera - B Riley and Securities John Massocca - Ladenburg Brian Hollenden - Aegis Operator Greetings and welcome to Gladstone Commercial's Third Quarter Earnings Call. At this time all participants are in a ...

Financial Data and Key Metrics Changes - FFO adjusted for comparability and core FFO available to common stockholders were $0.36 and $0.37 per share for Q2 2021, compared to $0.40 and $0.41 per share in Q2 2020 [25] - Total operating revenues for Q2 2021 were stable at $33.4 million, with operating expenses of $25 million, compared to $33.5 million and $25.9 million for the same period in 2020 [26] - Same-store cash rent in Q2 grew by 2.8% over Q2 2020, and for the first six months of 2021, it grew by 4% over the same period in 2020 [25] Business Line Data and Key Metrics Changes - The company acquired a 25,200 square foot industrial service facility in Baytown, Texas for $8.1 million and an 80,600 square foot industrial facility in St. Louis, Missouri for $22 million [6][10] - The asset management team extended, expanded, and/or leased 1.27 million square feet covering 12 tenants, with an average weighted lease term of 8.6 years [11] - 100% of cash-based rents were collected during Q2 2021, with July collections at 99% [13] Market Data and Key Metrics Changes - Industrial activity remains strong, with second quarter vacancy rates at 4% to 4.5% and net absorption exceeding 100 million square feet [18] - Office vacancy increased to 16.5%, but negative absorption has improved compared to previous quarters [19] - E-commerce and logistics demand continue to drive the industrial sector, while office rents increased approximately 1% quarter-over-quarter [20] Company Strategy and Development Direction - The company is focusing on increasing its industrial allocation from 49% today to a target of 60% within the next 18 months [9] - The current pipeline of acquisition candidates is approximately $360 million, with a focus on industrial properties [21] - The company is exploring dual strategies for its Austin office property, considering both re-leasing and selling options [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage lease expirations, with only 2.9% of leases expiring through year-end 2021 [14] - The team is optimistic about future performance, citing strong tenant performance and a robust acquisition strategy [22] - Management noted that the operating environment remains challenging but emphasized the team's capability to navigate these conditions [38] Other Important Information - The company issued $100 million of Series G preferred stock, primarily to redeem Series D preferred stock, reducing total dividend expenses and providing additional investable capital [28] - Institutional ownership of the stock has increased to 54.3% as of June 30, a 7% increase over the last five years [33] Q&A Session Summary Question: Can you talk about the sequential revenue drop and its causes? - Management indicated that the drop was due to accelerated rents from Q1 not carrying into Q2 and increased G&A costs in Q2 compared to Q1 [41][42] Question: What is the status of the 310 million square feet of vacant space leased? - The free rent period for the leases does not start until November [43] Question: What was the spread on the rents for the renewals since the end of Q1? - Renewals represented about $6.3 million of straight-line rent, which increased by approximately 8.5% [44] Question: Has the investment expectation for 2021 changed? - Management expects to remain above $110 million in investments, with increased market activity [50] Question: What is the current cap rate environment for smaller assets? - Cap rates in secondary markets are in the mid- to high 5s, while gateway markets are lower [51] Question: What is the confidence level for potential transactions in the Austin market? - Increased interest in property tours and buyer inquiries has led to confidence in potential transactions by the end of Q3 [53]

ll GLADSTONE COMMERCIAL REITWEEK 2021 1.87.148 Legal Disclaimer 200.201.204 7.161.142 210.189.154 114.95.164 224.224.13 247.82.73 200.201.204 Forward-Looking Statements: This presentation may include forward-looking statements within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. Forward-looking statements are typically identified by words such as "estimate," "may," "might," "believe," "will," "provided," "anticipate," "future," "could," "growth," "plan," "project," "inten ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q1 2021 Earnings Conference Call May 11, 2021 8:30 AM ET Company Participants David Gladstone - Chief Executive Officer Michael LiCalsi - General Counsel & Secretary Bob Cutlip - President Gary Gerson - Interim Chief Financial Officer Conference Call Participants Gaurav Mehta - National Securities Rob Stevenson - Janney Brian Hollenden - Aegis Capital John Massocca - Ladenburg Thalmann Operator Greetings. Welcome to Gladstone Commercial's First Quarter Earnin ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q4 2020 Earnings Conference Call February 17, 2021 8:30 AM ET Company Participants David Gladstone - Chairman & CEO Michael LiCalsi - General Counsel & Secretary Bob Cutlip - President Mike Sodo - CFO Conference Call Participants Barry Oxford - D.A. Davidson Gaurav Mehta - National Securities Rob Stevenson - Janney Craig Kucera - B. Riley John Massocca - Ladenburg Thalmann Operator Greetings. Welcome to Gladstone Commercial Corporation's Fiscal Year Ended Decem ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q3 2020 Results Earnings Conference Call November 6, 2020 8:30 AM ET Company Participants David Gladstone - Chief Executive Officer Michael LiCalsi - General Counsel and Secretary Bob Cutlip - President Mike Sodo - Chief Financial Officer Conference Call Participants Rob Stevenson - Janney Montgomery Scott Gaurav Mehta - National Securities John Massocca - Ladenburg Thalmann Operator Greetings. And welcome to the Gladstone Commercial Corporation Earnings Call f ...

1.87.148 200.201.204 7.161.142 210.189.154 224.224.13 247.82.73 200.201.204 GLADSTONE COMMERCIAL 114.95.164Supplemental Financial & Operating Information for the Quarter Ended September 30, 2020 1 1.87.148 Legal disclaimer 200.201.204 7.161.142 210.189.154 114.95.164 224.224.13 247.82.73 200.201.204 Forward-Looking Statements: This presentation may include forward-looking statements within the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934. Forward-looking statements are typica ...

Gladstone Commercial Corporation (NASDAQ:GOOD) Q2 2020 Earnings Conference Call July 28, 2020 8:30 AM ET Company Participants David Gladstone - Chief Executive Officer Michael LiCalsi - General Counsel and Secretary Bob Cutlip - President Mike Sodo - Chief Financial Officer Conference Call Participants Gaurav Mehta - National Securities Rob Stevenson - Janney John Massocca - Ladenburg Thalmann Craig Kucera - B. Riley FBR Operator Ladies and gentlemen, thank you for standing by and welcome to the Gladstone C ...