Gladstone Commercial Corporation (NASDAQ:GOOD) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET

Company Participants

David Gladstone - CEO

Buzz Cooper - President

Gary Gerson - CFO

Michael LiCalsi - General Counsel and Secretary

Conference Call Participants

Rob Stevenson - Janney Montgomery Scott

Dave Storms - Stonegate Capital Markets

John Massocca - B. Riley Securities

Operator

Greetings, and welcome to the Gladstone Commercial Corporation Third Quarter Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, David Gladstone, Chief Executive Officer. Please proceed, sir.

David Gladstone

Thank you so much for that nice introduction, and thanks to all of you for calling in. We enjoy this time we have with you on the phone and wish we had more time to talk with you. Now, we’ll first hear from Michael LiCalsi, the General Counsel and Secretary, who gives us good legal and regulatory information. So, Michael, go ahead.

Michael LiCalsi

Thanks, David. Good morning, everybody. Today's report may include forward-looking statements under the Securities Act of 1933 and the Securities Exchange Act of 1934, including those regarding our future performance. These forward-looking statements involve certain risks and uncertainties that are based on our current plans, which we believe to be reasonable. Many factors may cause our actual results to be materially different from any future results expressed or implied by these forward-looking statements, including all risk factors in our forms 10-Q, 10-K, and other documents we file with the SEC. You can find those on Investors page of our website, gladstonecommercial.com, on the SEC's website, which is www.sec.gov. Now, we undertake no obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Today, we’ll discuss FFO, which is funds from operations. It is a non-GAAP accounting term defined as net income excluding the gains or losses from the sale of real estate and any impairment losses on property, plus depreciation and amortization of real estate assets. We'll also discuss core FFO, which are generally FFO adjusted for certain other non-recurring revenues and expenses. We believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance. Please go to our website, once again, gladstonecommercial.com, sign up for our email notification service. You can also find us on Facebook, keyword The Gladstone Companies, and Twitter, and that’s @gladstonecomps.