| Quarterly Financial Information (unaudited) |
Quarterly Financial Information (unaudited)
The following table reflects the quarterly results of operations for the years ended December 31, 2019 and 2018 (dollars in thousands):
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Quarter ended |
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December 31, 2019 |
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September 30, 2019 |
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June 30, 2019 |
|
March 31, 2019 |
Operating revenues |
|
$ |
29,386 |
|
|
$ |
28,667 |
|
|
$ |
28,197 |
|
|
$ |
28,137 |
|
Operating expenses |
|
(22,462 |
) |
|
(19,445 |
) |
|
(19,058 |
) |
|
(19,266 |
) |
Other expense, net |
|
(6,452 |
) |
|
(7,031 |
) |
|
(6,934 |
) |
|
(4,198 |
) |
Net income |
|
472 |
|
|
2,191 |
|
|
2,205 |
|
|
4,673 |
|
Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders |
|
100 |
|
|
16 |
|
|
16 |
|
|
(45 |
) |
Dividends attributable to preferred and senior common stock (1) |
|
(5,877 |
) |
|
(2,838 |
) |
|
(2,837 |
) |
|
(2,836 |
) |
Net (loss) income (attributable) available to common stockholders |
|
(5,305 |
) |
|
(631 |
) |
|
(616 |
) |
|
1,792 |
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Net (loss) income (attributable) available to common stockholders per share - basic & diluted |
|
$ |
(0.18 |
) |
|
$ |
(0.02 |
) |
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$ |
(0.02 |
) |
|
$ |
0.06 |
|
Other Comprehensive income (loss) |
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$ |
356 |
|
|
$ |
(624 |
) |
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$ |
(988 |
) |
|
$ |
(722 |
) |
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Quarter ended |
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December 31, 2018 |
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September 30, 2018 |
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June 30, 2018 |
|
March 31, 2018 |
Operating revenues |
|
$ |
27,261 |
|
|
$ |
26,591 |
|
|
$ |
26,593 |
|
|
$ |
26,353 |
|
Operating expenses |
|
(18,771 |
) |
|
(17,422 |
) |
|
(17,542 |
) |
|
(17,402 |
) |
Other expense, net |
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(5,973 |
) |
|
(6,492 |
) |
|
(6,526 |
) |
|
(4,346 |
) |
Net income |
|
2,517 |
|
|
2,677 |
|
|
2,525 |
|
|
4,605 |
|
Net income available to OP Units held by Non-controlling OP Unitholders |
|
(4 |
) |
|
— |
|
|
— |
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|
— |
|
Dividends attributable to preferred and senior common stock |
|
(2,844 |
) |
|
(2,847 |
) |
|
(2,842 |
) |
|
(2,814 |
) |
Net (loss) income (attributable) available to common stockholders |
|
$ |
(331 |
) |
|
$ |
(170 |
) |
|
$ |
(317 |
) |
|
$ |
1,791 |
|
Net (loss) income (attributable) available to common stockholders - basic & diluted |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
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$ |
0.06 |
|
Other Comprehensive (loss) income |
|
$ |
(1,212 |
) |
|
$ |
245 |
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$ |
289 |
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$ |
495 |
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(1) |
Includes $2.7 million of Series A and B Preferred Stock offering costs written off as a result of their redemption.
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