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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Rental income $ 60,214 $ 51,736 $ 118,706 $ 103,247
Operating expense reimbursements 4,772 1,460 9,117 4,903
Total revenues 64,986 53,196 127,823 108,150
Expenses:        
Property operating 7,570 3,542 14,806 9,189
Fire loss 500 0 500 0
Operating fees to related parties 5,713 4,959 11,443 9,776
Acquisition and transaction related 443 27 1,139 (102)
General and administrative 2,053 1,880 3,823 3,584
Equity based compensation (2,235) 70 (2,219) 1,114
Depreciation and amortization 27,497 23,812 54,611 47,568
Total expenses 41,541 34,290 84,103 71,129
Operating income 23,445 18,906 43,720 37,021
Interest expense (11,634) (10,634) (23,165) (21,203)
(Losses) gains on dispositions of real estate investments (143) 0 814 0
(Losses) gains on derivative instruments (2,990) 3,830 (3,460) 3,481
Unrealized (losses) gains on undesignated foreign currency advances and other hedge ineffectiveness (2,971) 4,252 (3,853) 4,154
Other income 3 8 10 17
Total other expense, net (17,735) (2,544) (29,654) (13,551)
Net income before income tax 5,710 16,362 14,066 23,470
Income tax expense (510) (430) (1,416) (980)
Net income 5,200 15,932 12,650 22,490
Non-controlling interest 0 (169) (21) (239)
Net income attributable to stockholders $ 5,200 $ 15,763 $ 12,629 $ 22,251
Basic and Diluted Earnings Per Share:        
Basic and diluted net income per share attributable to stockholders (usd per share) $ 0.08 $ 0.28 $ 0.18 $ 0.39
Basic and diluted weighted average shares outstanding (shares) 66,652,221 56,316,157 66,461,663 56,314,184