Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating revenues        
Lease revenue $ 33,142 $ 28,667 $ 100,287 $ 85,001
Total operating revenues 33,142 28,667 100,287 85,001
Operating expenses        
Depreciation and amortization 13,798 12,979 42,076 38,611
Property operating expenses 6,590 3,202 19,098 9,330
Base management fee [1] 1,418 1,292 4,219 3,852
Incentive fee [1] 1,128 965 3,301 2,720
Administration fee [1] 361 411 1,194 1,222
General and administrative 775 596 2,406 2,035
Impairment charge 1,184 0 2,905 0
Total operating expenses 25,254 19,445 75,199 57,770
Other (expense) income        
Interest expense (6,444) (7,170) (20,411) (21,406)
Gain on sale of real estate, net 1,196 0 1,184 2,952
Other income 204 139 209 291
Total other expense, net (5,044) (7,031) (19,018) (18,163)
Net income 2,844 2,191 6,070 9,068
Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 2 16 39 (13)
Net income attributable to the Company 2,846 2,207 6,109 9,055
Distributions attributable to Series A, B, D, E, and F preferred stock (2,771) (2,612) (8,137) (7,837)
Distributions attributable to senior common stock (203) (226) (615) (675)
Net (loss) income (attributable) available to common stockholders $ (128) $ (631) $ (2,643) $ 543
(Loss) earnings per weighted average share of common stock - basic & diluted        
(Loss) earnings (attributable) available to common shareholders (in dollars per share) $ (0.004) $ (0.02) $ (0.08) $ 0.02
Weighted average shares of common stock outstanding        
Basic and Diluted (in shares) 34,075,147 31,032,802 33,884,007 30,338,690
Earnings per weighted average share of senior common stock (in dollars per share) $ 0.26 $ 0.26 $ 0.79 $ 0.78
Weighted average shares of senior common stock outstanding - basic (in shares) 768,550 854,435 779,526 859,956
Comprehensive income        
Change in unrealized gain (loss) related to interest rate hedging instruments, net $ 276 $ (624) $ (2,733) $ (2,335)
Other Comprehensive income (loss) 276 (624) (2,733) (2,335)
Net income 2,844 2,191 6,070 9,068
Comprehensive income 3,120 1,567 3,337 6,733
Comprehensive loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 2 16 39 (13)
Total comprehensive income available to the Company $ 3,122 $ 1,583 $ 3,376 $ 6,720
[1] Refer to Note 2 “Related-Party Transactions”