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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues    
Rental income $ 59,297 $ 50,340
Other income 1,489 1,456
Total revenues 60,786 51,796
Expenses    
Property operating expenses 13,596 11,216
Real estate taxes and insurance 8,720 8,722
Property management fees [1] 1,757 1,485
Advisory and administrative fees [2] 1,843 1,868
Corporate general and administrative expenses 3,486 2,940
Property general and administrative expenses 2,006 1,559
Depreciation and amortization 23,718 20,758
Total expenses 55,126 48,548
Operating income 5,660 3,248
Interest expense (10,636) (10,616)
Casualty gain 128  
Miscellaneous income 181 468
Net loss (4,667) (6,900)
Net loss attributable to redeemable noncontrolling interests in the Operating Partnership (14) (21)
Net loss attributable to common stockholders (4,653) (6,879)
Other comprehensive income    
Unrealized gains on interest rate derivatives 54,579 31,342
Total comprehensive income 49,912 24,442
Comprehensive income attributable to redeemable noncontrolling interests in the Operating Partnership 150 73
Comprehensive income attributable to common stockholders $ 49,762 $ 24,369
Weighted average common shares outstanding - basic 25,620 25,068
Weighted average common shares outstanding - diluted [3] 25,620 25,068
Loss per share - basic $ (0.18) $ (0.27)
Loss per share - diluted $ (0.18) $ (0.27)
[1] Fees incurred to an unaffiliated third party that is an affiliate of the noncontrolling limited partner of the Company’s Operating Partnership (see Note 10).
[2] Fees incurred to the Adviser (see Note 11).
[3] If the Company sustains a net loss for the period presented, unvested restricted stock units are not included in the diluted earnings per share calculation.