Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.19.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenues        
Lease revenue $ 28,197 $ 26,593 $ 56,334 $ 52,946
Total operating revenues 28,197 26,593 56,334 52,946
Operating expenses        
Depreciation and amortization 12,622 11,773 25,632 23,358
Property operating expenses 3,060 2,816 6,128 5,609
Base management fee 1,293 [1] 1,260 [1] 2,560 2,556 [1]
Incentive fee [1] 904 733 1,755 1,429
Administration fee [1] 397 360 810 747
General and administrative 782 600 1,439 1,245
Total operating expenses 19,058 17,542 38,324 34,944
Other (expense) income        
Interest expense (7,005) (6,531) (14,236) (12,744)
Gain on sale of real estate, net 0 0 2,952 1,844
Other income 71 5 152 28
Total other expense, net (6,934) (6,526) (11,132) (10,872)
Net income 2,205 2,525 6,878 7,130
Net loss (income) attributable to OP Units held by Non-controlling OP Unitholders 16 0 (29) 0
Net income attributable to the Company 2,221 2,525 6,849 7,130
Distributions attributable to Series A, B and D preferred stock (2,612) (2,609) (5,225) (5,191)
Distributions attributable to senior common stock (225) (233) (449) (465)
Net (loss) income (attributable) available to common stockholders $ (616) $ (317) $ 1,175 $ 1,474
(Loss) earnings per weighted average share of common stock - basic & diluted        
(Loss) earnings (attributable) available to common shareholders (in dollars per share) $ (0.02) $ (0.01) $ 0.04 $ 0.05
Weighted average shares of common stock outstanding        
Basic and Diluted (in shares) 30,449,739 28,437,852 29,985,881 28,429,470
Earnings per weighted average share of senior common stock (in dollars per share) $ 0.26 $ 0.26 $ 0.52 $ 0.52
Weighted average shares of senior common stock outstanding - basic (in shares) 861,237 891,428 862,762 893,315
Comprehensive income        
Change in unrealized (loss) gain related to interest rate hedging instruments, net $ (988) $ 289 $ (1,711) $ 783
Other Comprehensive (loss) income (988) 289 (1,711) 783
Comprehensive income 1,217 2,814 5,167 7,913
Comprehensive loss (income) attributable to OP Units held by Non-controlling OP Unitholders 16 0 (29) 0
Total comprehensive income attributable to the Company $ 1,233 $ 2,814 $ 5,138 $ 7,913
[1] Refer to Note 2 “Related-Party Transactions”