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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental income $ 14,203 $ 10,196 $ 28,276 $ 20,237
Expense reimbursement 1,562 1,145 3,344 2,036
Other 327 293 750 621
Total Revenues 16,092 11,634 32,370 22,894
Operating Expenses:        
Property operating expenses 6,236 4,127 12,398 8,243
Acquisition costs 87 882 87 1,091
Stock based compensation 615 507 1,157 916
General and administrative 929 495 1,630 902
Base management fee   327 109 659
External advisor acquisition     7,045  
Depreciation and amortization 6,520 4,494 13,071 8,900
Total Operating Expenses 14,387 10,832 35,497 20,711
Operating income/(loss) 1,705 802 (3,127) 2,183
Interest Expense:        
Contractual interest expense (3,139) (2,103) (6,885) (4,112)
Amortization of deferred financing costs (250) (185) (471) (354)
Interest expense, net (3,389) (2,288) (7,356) (4,466)
Change in fair value of earn-out   (600)   (600)
Net gain on sale of real estate property 15,934   15,934  
Net income/(loss) 14,250 (2,086) 5,451 (2,883)
Less: Net income attributable to noncontrolling interests in properties (110) (134) (177) (255)
Less: Net (income)/loss attributable to Operating Partnership unitholders' noncontrolling interests (2,613) 422 (874) 598
Net income/(loss) attributable to stockholders $ 11,527 $ (1,798) $ 4,400 $ (2,540)
Net income/(loss) per share:        
Basic $ 0.56 $ (0.15) $ 0.26 $ (0.21)
Diluted $ 0.48 $ (0.15) $ 0.22 $ (0.21)
Weighted average common shares outstanding:        
Basic 20,729 12,365 16,746 12,328
Diluted 24,235 12,365 20,237 12,328
Dividends/distributions declared per common share and unit $ 0.235 $ 0.235 $ 0.235 $ 0.235