Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.20.1
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating revenues    
Lease revenue $ 33,619 $ 28,137
Total operating revenues 33,619 28,137
Operating expenses    
Depreciation and amortization 14,096 13,010
Property operating expenses 6,213 3,068
Base management fee [1] 1,412 1,267
Incentive fee [1] 1,055 851
Administration fee [1] 438 413
General and administrative 878 657
Total operating expenses 24,092 19,266
Other (expense) income    
Interest expense (7,252) (7,231)
(Loss) gain on sale of real estate, net (12) 2,952
Other (loss) income (5) 81
Total other expense, net (7,269) (4,198)
Net income 2,258 4,673
Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 9 (45)
Net income attributable to the Company 2,267 4,628
Distributions attributable to Series A, B, D, and E preferred stock (2,678) (2,612)
Distributions attributable to senior common stock (208) (224)
Net (loss) income (attributable) available to common stockholders $ (619) $ 1,792
(Loss) earnings per weighted average share of common stock - basic & diluted    
(Loss) earnings (attributable) available to common shareholders (in dollars per share) $ (0.02) $ 0.06
Weighted average shares of common stock outstanding    
Basic and Diluted (in shares) 33,634,946 29,516,870
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) 793,429 864,303
Comprehensive income    
Change in unrealized loss related to interest rate hedging instruments, net $ (2,528) $ (722)
Other Comprehensive loss (2,528) (722)
Comprehensive (loss) income (270) 3,951
Comprehensive loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 9 (45)
Total comprehensive (loss) income (attributable) available to the Company $ (261) $ 3,906
[1] Refer to Note 2 “Related-Party Transactions”