Gladstone Commercial Corporation (NASDAQ:GOOD) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET

Company Participants

David Gladstone - Chairman and Chief Executive Officer
Michael LiCalsi - General Counsel and Secretary
Buzz Cooper - President
Gary Gerson - Chief Financial Officer and Assistant Treasurer

Conference Call Participants

Gaurav Mehta - Alliance Global Partners
Dave Storms - Stonegate
Barry Oxford - Colliers Securities
John Massocca - B. Riley Securities

Operator

Greetings and welcome to Gladstone Commercial Corporation Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A 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 David Gladstone, Chief Executive Officer. Thank you, Mr. Gladstone. You may begin.

David Gladstone

Well, thank you for that nice introduction, and we thank all of you for calling in today. We certainly enjoy the time we have with you on the phone and wish there were more time to talk with you.

Now we hear from Michael LiCalsi. He's our General Counsel and Secretary to give us legal and regulatory matters concerning this call this morning. Michael?

Michael LiCalsi

Thanks, David. Good morning, everybody. Today's report may include forward-looking statements under the Securities Act of 1933 and 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, and 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 the risk factors in our Forms 10-Q, 10-K, and other documents that we file with the SEC, and you can find these on our website and that's gladstonecommercial.com specifically go to the Investors page or on the SEC's website which is www.sec.gov.

And 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 will discuss FFO, which is funds from operations. FFO 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 is generally FFO adjusted for certain other non-recurring revenues and expenses and we believe these metrics are a better indication of our operating results and allow better comparability of our period-over-period performance. We ask that you visit our website, which is gladstonecommercial.com and sign up for our email notification service.