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11/5/2024
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. If anyone should require operator assistance, please press star zero on your telephone keypad. 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.
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 Lacalze. He's our general counsel and secretary to give us legal and regulatory matters concerning this call this morning. Michael?
Thanks, David. Good morning, everybody. Today's report may include forward-looking statements under the Securities Act of 1933. 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 10Q, 10K, 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. You'll also find us on Facebook. The keyword there is the Gladstone Companies, and Twitter, which is at Gladstone Comps. Now, today's call is an overview of our results, so we ask that you review our press release and Form 10-Q, both issued yesterday, for more detailed information. Now, with that, I'll turn it over to Gladstone Commercial's president, Buzz Cooper.
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