v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
9 Months Ended |
|
|
|
|
REVENUE: |
|
|
|
|
|
Rental revenue |
|
$ 49,478
|
$ 53,258
|
$ 152,022
|
$ 161,504
|
Debt-related income |
|
194
|
235
|
654
|
710
|
Total Revenue |
|
49,672
|
53,493
|
152,676
|
162,214
|
EXPENSES: |
|
|
|
|
|
Rental expense |
|
17,516
|
16,437
|
51,520
|
48,388
|
Real estate depreciation and amortization expense |
|
16,927
|
19,989
|
53,661
|
60,022
|
General and administrative expenses |
[1] |
2,760
|
2,234
|
7,034
|
7,192
|
Advisory fees, related party |
|
3,274
|
3,681
|
10,215
|
11,118
|
Acquisition-related expenses |
|
0
|
136
|
0
|
661
|
Impairment of real estate property |
[2] |
0
|
2,090
|
1,116
|
2,677
|
Total Operating Expenses |
|
40,477
|
44,567
|
123,546
|
130,058
|
OTHER (EXPENSES) INCOME: |
|
|
|
|
|
Other (expense) and income |
|
(664)
|
2,308
|
(862)
|
2,297
|
Interest expense |
|
(11,346)
|
(10,011)
|
(31,193)
|
(31,394)
|
Gain on extinguishment of debt and financing commitments |
|
0
|
0
|
0
|
5,136
|
Gain on sale of real property |
[3] |
670
|
2,095
|
11,022
|
43,495
|
Net (loss) income |
|
(2,145)
|
3,318
|
8,097
|
51,690
|
Net loss (income) attributable to noncontrolling interests |
|
185
|
(353)
|
(1,591)
|
(4,826)
|
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS |
|
$ (1,960)
|
$ 2,965
|
$ 6,506
|
$ 46,864
|
NET (LOSS) INCOME PER BASIC AND DILUTED COMMON SHARE (usd per share) |
|
$ (0.01)
|
$ 0.02
|
$ 0.04
|
$ 0.29
|
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING |
|
|
|
|
|
Basic (shares) |
|
139,925
|
158,688
|
144,998
|
161,274
|
Diluted (shares) |
|
151,739
|
170,952
|
156,918
|
173,760
|
Distributions declared per common share (usd per share) |
|
$ 0.0892
|
$ 0.0892
|
$ 0.2674
|
$ 0.2677
|
|
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