QUARTERLY FINANCIAL DATA (Unaudited) |
QUARTERLY FINANCIAL DATA (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | | 1st Quarter Jan - March | | 2nd Quarter April - June | | 3rd Quarter July - September | | 4th Quarter Oct - Dec | | Total For Year | Revenues: | | | | | | | | | | | Rental and other revenue | | $ | 11,430 | | | $ | 14,683 | | | $ | 21,691 | | | $ | 22,711 | | | $ | 70,515 | | Other income | | 4 | | | 2 | | | 6 | | | — | | | 12 | | Total revenues | | 11,434 | | | 14,685 | | | 21,697 | | | 22,711 | | | 70,527 | | Expenses: | | | | | | | | | | | Real estate operating expenses | | 4,753 | | | 6,348 | | | 9,195 | | | 10,262 | | | 30,558 | | Interest expense | | 2,021 | | | 2,912 | | | 5,061 | | | 5,520 | | | 15,514 | | General and administrative | | 3,633 | | | 3,533 | | | 3,673 | | | 3,815 | | | 14,654 | | | | | | | | | | | | | Depreciation | | 3,606 | | | 5,010 | | | 8,165 | | | 8,031 | | | 24,812 | | Total expenses | | 14,013 | | | 17,803 | | | 26,094 | | | 27,628 | | | 85,538 | | Total revenues less total expenses | | (2,579) | | | (3,118) | | | (4,397) | | | (4,917) | | | (15,011) | | Equity in earnings (loss) of unconsolidated joint ventures | | 1,230 | | | (50) | | | 135 | | | 580 | | | 1,895 | | Equity in earnings from sale of unconsolidated joint venture properties | | 12,961 | | | 40,098 | | | 11,472 | | | — | | | 64,531 | | Gain on sale of real estate | | 6 | | | — | | | — | | | — | | | 6 | | Casualty loss | | — | | | — | | | — | | | (850) | | | (850) | | Insurance recovery of casualty loss | | — | | | — | | | — | | | 850 | | | 850 | | Gain on sale of partnership interest | | | | — | | | — | | | — | | | — | | Gain on insurance recoveries | | | | — | | | 62 | | | — | | | 62 | | Loss on extinguishment of debt | | — | | | (563) | | | — | | | — | | | (563) | | Income (loss) from continuing operations | | 11,618 | | | 36,367 | | | 7,272 | | | (4,337) | | | 50,920 | | Provision for taxes | | 74 | | | 724 | | | 178 | | | (155) | | | 821 | | Net income (loss) from continuing operations, net of taxes | | 11,544 | | | 35,643 | | | 7,094 | | | (4,182) | | | 50,099 | | (Income) attributable to non-controlling interests | | (36) | | | (36) | | | (35) | | | (37) | | | (144) | | Net income (loss) attributable to common stockholders | | $ | 11,508 | | | $ | 35,607 | | | $ | 7,059 | | | $ | (4,219) | | | 49,955 | | | | | | | | | | | | | Basic and diluted and per share amounts attributable to common stockholders | | | | | | | | | | | Basic income (loss) per share | | $ | 0.62 | | | $ | 1.91 | | | $ | 0.37 | | | $ | (0.22) | | | $ | 2.67 | | Diluted income (loss) per share | | $ | 0.62 | | | $ | 1.91 | | | $ | 0.37 | | | $ | (0.22) | | | $ | 2.66 | | NOTE 15—QUARTERLY FINANCIAL DATA (Unaudited) (Continued) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | | 1st Quarter Jan - March | | 2nd Quarter April - June | | 3rd Quarter July - September | | 4th Quarter Oct - Dec | | Total For Year | Revenues: | | | | | | | | | | | Rental and other revenue | | $ | 7,095 | | | $ | 6,958 | | | $ | 7,709 | | | $ | 10,279 | | | $ | 32,041 | | Other income | | 4 | | | 3 | | | 5 | | | 4 | | | 16 | | Total revenues | | 7,099 | | | 6,961 | | | 7,714 | | | 10,283 | | | 32,057 | | Expenses: | | | | | | | | | | | Real estate operating expenses | | 3,117 | | | 3,166 | | | 3,404 | | | 4,515 | | | 14,202 | | Interest expense | | 1,660 | | | 1,609 | | | 1,535 | | | 1,953 | | | 6,757 | | General and administrative | | 3,114 | | | 3,154 | | | 3,114 | | | 3,239 | | | 12,621 | | Impairment charge | | — | | | 520 | | | — | | | — | | | 520 | | Depreciation | | 1,537 | | | 1,416 | | | 1,787 | | | 3,285 | | | 8,025 | | Total expenses | | 9,428 | | | 9,865 | | | 9,840 | | | 12,992 | | | 42,125 | | Total revenues less total expenses | | (2,329) | | | (2,904) | | | (2,126) | | | (2,709) | | | (10,068) | | Equity in (loss) earnings of unconsolidated joint ventures | | (1,345) | | | (492) | | | (4,196) | | | 1,825 | | | (4,208) | | Equity in earnings from sale of unconsolidated joint venture properties | | — | | | — | | | 34,982 | | | — | | | 34,982 | | Gain on sale of real estate | | — | | | 7,279 | | | 414 | | | — | | | 7,693 | | Gain on sale of partnership interest | | — | | | 2,244 | | | — | | | 388 | | | 2,632 | | | | | | | | | | | | | Loss on extinguishment of debt | | — | | | — | | | (902) | | | (673) | | | (1,575) | | (Loss) income from continuing operations | | (3,674) | | | 6,127 | | | 28,172 | | | (1,169) | | | 29,456 | | Provision for taxes | | 57 | | | 67 | | | 31 | | | 51 | | | 206 | | (Loss) income from continuing operations, net of taxes | | (3,731) | | | 6,060 | | | 28,141 | | | (1,220) | | | 29,250 | | (Income) attributable to non-controlling interests | | (34) | | | (33) | | | (35) | | | (34) | | | (136) | | Net (loss) income attributable to common stockholders | | $ | (3,765) | | | $ | 6,027 | | | $ | 28,106 | | | $ | (1,254) | | | 29,114 | | | | | | | | | | | | | Basic and per share amounts attributable to common stockholders | | | | | | | | | | | Basic (loss) income per share | | $ | (0.22) | | | $ | 0.34 | | | $ | 1.55 | | | $ | (0.08) | | | $ | 1.63 | | Diluted (loss) income per share | | $ | (0.22) | | | $ | 0.34 | | | $ | 1.54 | | | $ | (0.08) | | | $ | 1.62 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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