Consolidated and Combined Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Revenues: | |||||||||||
Rental income (related party rental income of $0, $16,308 and $32,667 for the year ended December 31, 2016, 2015 and 2014, respectively – Note 6) | $ 93,126 | $ 65,979 | $ 51,367 | ||||||||
Tenant reimbursements (related party tenant reimbursements of $0, $1,406 and $2,842 for the year ended December 31, 2016, 2015 and 2014, respectively – Note 6) | 7,846 | 5,497 | 4,956 | ||||||||
Independent living facilities | 2,970 | 2,510 | 2,519 | ||||||||
Interest and other income | 737 | 965 | 55 | ||||||||
Total revenues | $ 28,243 | $ 27,106 | $ 25,701 | $ 23,629 | $ 22,632 | $ 17,985 | $ 17,376 | $ 16,958 | 104,679 | 74,951 | 58,897 |
Expenses: | |||||||||||
Depreciation and amortization (including a below-market ground lease) | 31,965 | 24,133 | 23,000 | ||||||||
Interest expense | 23,199 | 25,256 | 21,622 | ||||||||
Loss on extinguishment of debt | 0 | 0 | 4,067 | ||||||||
Property taxes | 7,846 | 5,497 | 4,956 | ||||||||
Acquisition costs | 205 | 0 | 47 | ||||||||
Independent living facilities | 2,549 | 2,376 | 2,243 | ||||||||
General and administrative | 9,297 | 7,655 | 11,105 | ||||||||
Total expenses | 75,061 | 64,917 | 67,040 | ||||||||
Other income (expense): | |||||||||||
Loss on sale of real estate | (265) | 0 | 0 | ||||||||
Net income (loss) | $ 8,388 | $ 7,832 | $ 7,631 | $ 5,502 | $ 5,003 | $ 727 | $ 2,266 | $ 2,038 | $ 29,353 | $ 10,034 | $ (8,143) |
Earnings (loss) per common share: | |||||||||||
Basic (in usd per share) | $ 0.14 | $ 0.13 | $ 0.13 | $ 0.11 | $ 0.10 | $ 0.02 | $ 0.07 | $ 0.06 | $ 0.52 | $ 0.26 | $ (0.36) |
Diluted (in usd per share) | $ 0.14 | $ 0.13 | $ 0.13 | $ 0.11 | $ 0.10 | $ 0.02 | $ 0.07 | $ 0.06 | $ 0.52 | $ 0.26 | $ (0.36) |
Weighted-average number of common shares: | |||||||||||
Basic (in shares) | 60,875 | 57,595 | 57,478 | 48,101 | 47,660 | 39,125 | 31,278 | 31,257 | 56,030 | 37,380 | 22,788 |
Diluted (in shares) | 60,875 | 57,595 | 57,478 | 48,101 | 47,660 | 39,125 | 31,278 | 31,257 | 56,030 | 37,380 | 22,788 |
X | ||||||||||
- Definition The capitalized costs incurred during the period (excluded from amortization) to purchase, lease or otherwise acquire an unproved property, including costs of lease bonuses and options to purchase or lease properties, the portion of costs applicable to minerals when land including mineral rights is purchased in fee, brokers' fees, recording fees, legal costs, and other costs incurred in acquiring properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The aggregate costs related to design, development, general contracting, remodeling, and renovation services for residential buildings, including single-family houses, multifamily housing, townhomes, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Revenue related to the sale of homes and home building activities including design, development, general contracting, and renovation services for residential buildings, including single-family houses, multifamily housing, townhouses, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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