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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental and other revenue from real estate properties $ 23,510 $ 21,691 $ 69,704 $ 47,804
Other income 342 6 405 12
Total revenues 23,852 21,697 70,109 47,816
Expenses:        
Real estate operating expenses - including $9 and $9 to related parties for the three months ended and $25 and $28 for the nine months ended 10,583 9,195 31,565 20,296
Interest expense 5,581 5,061 16,577 9,994
General and administrative - including $141 and $183 to related parties for the three months ended and $479 and $614 for the nine months ended 4,017 3,673 11,920 10,839
Depreciation and amortization 6,544 8,165 22,095 16,781
Total expenses 26,725 26,094 82,157 57,910
Total revenues less total expenses (2,873) (4,397) (12,048) (10,094)
Equity in earnings of unconsolidated joint ventures 426 135 1,705 1,315
Equity in earnings from sale of unconsolidated joint ventures properties 0 11,472 14,744 64,531
Gain on sale of real estate 604 0 604 6
Insurance recovery of casualty loss 261 0 476 0
Gain on insurance recoveries 0 62 240 62
Loss on extinguishment of debt 0 0 0 (563)
(Loss) income from continuing operations (1,582) 7,272 5,721 55,257
Income tax (benefit) provision (122) 178 5 976
(Loss) income from continuing operations, net of taxes (1,460) 7,094 5,716 54,281
Net income attributable to non-controlling interest (34) (35) (106) (107)
Net (loss) income attributable to common stockholders $ (1,494) $ 7,059 $ 5,610 $ 54,174
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 17,851,715 17,928,197 18,022,975 17,721,700
Diluted (in shares) 17,851,715 17,994,457 18,045,767 17,784,362
Per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ (0.08) $ 0.37 $ 0.30 $ 2.91
Diluted (in dollars per share) $ (0.08) $ 0.37 $ 0.27 $ 2.89