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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental revenue $ 54,929 $ 40,799 $ 153,511 $ 116,806
Interest on loans and direct financing lease receivables 4,574 2,054 11,558 6,030
Other revenue, net 98 56 150 64
Total revenues 59,601 42,909 165,219 122,900
Expenses:        
General and administrative 5,596 5,917 18,497 19,706
Property expenses 1,358 810 3,946 1,755
Depreciation and amortization 17,355 13,966 50,185 40,442
Provision for impairment of real estate 0 3,221 6,120 5,080
Change in provision for loan losses 16 14 (112) 531
Total expenses 24,325 23,928 78,636 67,514
Other operating income:        
Gain on dispositions of real estate, net 1,343 1,003 8,841 3,971
Income from operations 36,619 19,984 95,424 59,357
Other (expense)/income:        
Loss on repayment of secured borrowings 0 0 (4,461) (924)
Interest expense (8,955) (7,651) (24,444) (21,887)
Interest income 37 58 74 433
Income before income tax expense 27,701 12,391 66,593 36,979
Income tax expense 55 55 172 156
Net income 27,646 12,336 66,421 36,823
Net income attributable to non-controlling interests (139) (73) (335) (220)
Net income attributable to stockholders $ 27,507 $ 12,263 $ 66,086 $ 36,603
Basic weighted average shares outstanding (in shares) 119,230,645 94,259,150 114,223,586 92,070,002
Basic net income per share (in USD per share) $ 0.23 $ 0.13 $ 0.58 $ 0.39
Diluted weighted average shares outstanding (in shares) 120,298,680 95,039,832 115,339,656 92,959,708
Diluted net income per share (in USD per share) $ 0.23 $ 0.13 $ 0.57 $ 0.39