Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.21.1
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating revenues    
Lease revenue $ 34,677 $ 33,619
Total operating revenues 34,677 33,619
Operating expenses    
Depreciation and amortization 16,710 14,096
Property operating expenses 6,561 6,213
Base management fee [1] 1,444 1,412
Incentive fee [1] 1,236 1,055
Administration fee [1] 297 438
General and administrative 656 878
Total operating expenses 26,904 24,092
Other (expense) income    
Interest expense (7,164) (7,252)
Loss on sale of real estate, net (882) (12)
Other income (expense) 311 (5)
Total other expense, net (7,735) (7,269)
Net income 38 2,258
Net loss attributable to OP Units held by Non-controlling OP Unitholders 41 9
Net income attributable to the Company 79 2,267
Distributions attributable to Series D, E, and F preferred stock (2,847) (2,678)
Distributions attributable to senior common stock (187) (208)
Net loss attributable to common stockholders $ (2,955) $ (619)
Loss per weighted average share of common stock - basic & diluted    
Loss attributable to common shareholders (in dollars per share) $ (0.08) $ (0.02)
Weighted average shares of common stock outstanding    
Basic and Diluted (in shares) 35,714,107 33,634,946
Earnings per weighted average share of senior common stock (in dollars per share) $ 0.26 $ 0.26
Weighted average shares of senior common stock outstanding - basic (in shares) 723,841 793,429
Comprehensive income    
Change in unrealized gain (loss) related to interest rate hedging instruments, net $ 2,424 $ (2,528)
Other Comprehensive gain (loss) 2,424 (2,528)
Net income 38 2,258
Comprehensive income (loss) 2,462 (270)
Comprehensive loss attributable to OP Units held by Non-controlling OP Unitholders 41 9
Total comprehensive income (loss) available to the Company $ 2,503 $ (261)
[1] Refer to Note 2 “Related-Party Transactions”