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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income        
Rental income $ 44,297 $ 46,808 $ 135,893 $ 140,146
Total income 60,493 62,851 186,183 187,290
Expenses        
General and administrative expenses 9,628 11,051 26,617 33,484
Property operating expenses 8,615 9,200 26,629 25,654
Real estate taxes 8,712 9,874 27,742 27,041
Depreciation and amortization 29,684 23,941 77,768 69,815
Provision for asset impairment 2,713 0 3,510 16,440
Total expenses 59,352 54,066 162,266 172,434
Operating income 1,141 8,785 23,917 14,856
Interest and dividend income 340 938 1,489 3,853
Gain on sale of investment properties, net 13,476 7,253 51,741 21,634
(Loss) gain on extinguishment of debt, net (4) (42) 10,693 840
Other income (expense) 21 2,611 515 (671)
Interest expense (5,954) (7,588) (19,047) (22,795)
Equity in (losses) earnings of unconsolidated entities (43) 648 (2,795) 1,895
Realized and unrealized investment gains, net 13 71 236 30,940
Income from continuing operations before income taxes 8,990 12,676 66,749 50,552
Income tax expense (43) (432) (407) (943)
Net income from continuing operations 8,947 12,244 66,342 49,609
Net income from discontinued operations 0 9,721 0 8,372
Net income $ 8,947 $ 21,965 $ 66,342 $ 57,981
Weighted average number of common shares outstanding, basic and diluted (in shares) 768,385,770 773,517,492 772,341,263 773,405,710
Net income per common share, from continuing operations, basic and diluted (in dollars per share) $ 0.01 $ 0.02 $ 0.09 $ 0.06
Net income per common share, from discontinued operations, basic and diluted (in dollars per share) 0.00 0.01 0.00 0.01
Net income per common share, basic and diluted (in dollars per share) 0.01 0.03 0.09 0.07
Distributions declared per common share outstanding (in dollars per share) 0.01 0.02 0.05 0.05
Distributions paid per common share outstanding (in dollars per share) $ 0.01 $ 0.02 $ 0.05 $ 0.05
Comprehensive income        
Net income $ 8,947 $ 21,965 $ 66,342 $ 57,981
Unrealized gain (loss) on investment securities 0 4,257 0 (13,407)
Unrealized gain on derivatives 142 111 1,218 426
Reclassification for amounts recognized in net income (284) (71) (593) (30,940)
Comprehensive income 8,805 26,262 66,967 14,060
Tenant recovery income        
Income        
Income 13,614 14,704 44,390 42,523
Other property income        
Income        
Income 1,617 321 2,935 1,409
Other fee income        
Income        
Income $ 965 $ 1,018 $ 2,965 $ 3,212