Gladstone Commercial Provides A Business Update; Announces 100% Of Q4 2023 Cash Base Rents Have Been Paid And Collected; Portfolio Occupancy Is At 96.8%, As Of December 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Gladstone Commercial Corporation (NASDAQ:GOOD) reported full payment and collection of Q4 2023 cash base rents and a high portfolio occupancy of 96.8% as of December 31, 2023. The REIT also detailed property acquisitions, lease extensions, new leases, and property sales. Additionally, it extended or executed leases covering 1,428,830 square feet with a 13% increase in annualized straight-line rent. The company sold shares for net proceeds of $4.1 million and reported $54.3 million in liquidity from its credit facility and cash on hand.
January 08, 2024 | 9:12 pm
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Gladstone Commercial Corporation announced full collection of Q4 2023 rents, high occupancy, property transactions, and strong liquidity, indicating robust operational performance and financial health.
The positive business update from Gladstone Commercial, including full rent collection, high occupancy rates, and successful property transactions, is likely to be viewed favorably by investors. The announcement of strong liquidity further supports the company's financial stability, which could lead to a positive short-term impact on the stock price.
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IMPORTANCE 90
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