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 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues        
Lease revenue $ 33,525 $ 28,197 $ 67,145 $ 56,334
Total operating revenues 33,525 28,197 67,145 56,334
Operating expenses        
Depreciation and amortization 14,182 12,622 28,278 25,632
Property operating expenses 6,295 3,060 12,508 6,128
Base management fee 1,389 [1] 1,293 [1] 2,801 2,560
Incentive fee [1] 1,119 904 2,173 1,755
Administration fee [1] 395 397 833 810
General and administrative 752 782 1,630 1,439
Impairment charge 1,721 0 1,721 0
Total operating expenses 25,853 19,058 49,944 38,324
Other (expense) income        
Interest expense (6,716) (7,005) (13,968) (14,236)
(Loss) gain on sale of real estate, net 0 0 (12) 2,952
Other income 9 71 4 152
Total other expense, net (6,707) (6,934) (13,976) (11,132)
Net income 965 2,205 3,225 6,878
Net loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 28 16 37 (29)
Net income attributable to the Company 993 2,221 3,262 6,849
Distributions attributable to Series A, B, D, and E preferred stock (2,688) (2,612) (5,366) (5,225)
Distributions attributable to senior common stock (204) (225) (411) (449)
Net (loss) income (attributable) available to common stockholders $ (1,899) $ (616) $ (2,515) $ 1,175
(Loss) earnings per weighted average share of common stock - basic & diluted        
(Loss) earnings (attributable) available to common shareholders (in dollars per share) $ (0.06) $ (0.02) $ (0.07) $ 0.04
Weighted average shares of common stock outstanding        
Basic and Diluted (in shares) 33,939,826 30,449,739 33,787,386 29,985,881
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) 776,718 861,237 785,074 862,762
Comprehensive income        
Change in unrealized loss related to interest rate hedging instruments, net $ (481) $ (988) $ (3,009) $ (1,711)
Other Comprehensive loss (481) (988) (3,009) (1,711)
Comprehensive income 484 1,217 216 5,167
Comprehensive loss (income) attributable (available) to OP Units held by Non-controlling OP Unitholders 28 16 37 (29)
Total comprehensive income available to the Company $ 512 $ 1,233 $ 253 $ 5,138
[1]
Refer to Note 2 “Related-Party Transactions”