Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.22.1
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating revenues    
Lease revenue $ 35,531 $ 34,677
Total operating revenues 35,531 34,677
Operating expenses    
Depreciation and amortization 14,689 16,710
Property operating expenses 6,623 6,561
Base management fee [1] 1,547 1,444
Incentive fee [1] 1,340 1,236
Administration fee [1] 462 297
General and administrative 997 656
Total operating expenses 25,658 26,904
Other (expense) income    
Interest expense (6,586) (7,164)
Loss on sale of real estate, net 0 (882)
Other income 104 311
Total other expense, net (6,482) (7,735)
Net income 3,391 38
Net (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders (2) 41
Net income attributable to the Company 3,389 79
Distributions attributable to Series D, E, F, and G preferred stock (2,946) (2,847)
Distributions attributable to senior common stock (116) (187)
Loss on extinguishment of Series F preferred stock (5) 0
Net income (loss) available (attributable) to common stockholders $ 322 $ (2,955)
Earnings (loss) per weighted average share of common stock - basic & diluted    
(Loss) Income (attributable) available to common shareholders, basic (in dollars per share) $ 0.01 $ (0.08)
(Loss) Income (attributable) available to common shareholders, diluted (in dollars per share) $ 0.01 $ (0.08)
Weighted average shares of common stock outstanding    
Basic (in shares) 37,902,653 35,714,107
Diluted (in shares) 37,902,653 35,714,107
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) 449,442 723,841
Comprehensive income    
Change in unrealized gain related to interest rate hedging instruments, net $ 4,267 $ 2,424
Other Comprehensive gain 4,267 2,424
Net income 3,391 38
Comprehensive income 7,658 2,462
Comprehensive (income) loss (available) attributable to OP Units held by Non-controlling OP Unitholders (2) 41
Total comprehensive income available to the Company $ 7,656 $ 2,503
[1] Refer to Note 2 “Related-Party Transactions”