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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Rental revenues $ 24,235 $ 23,548 $ 68,972 $ 64,051
Expenses:        
Depreciation 6,335 6,069 19,386 17,855
Amortization 757 757 2,271 2,271
General and administrative expenses 730 2,388 4,150 4,674
Property taxes 3,873 3,350 9,494 7,892
Facility rent expenses 139 357 398 603
(Credit) provision for doubtful accounts (5,100) (4,437) 93
Total expenses 6,734 12,921 31,262 33,388
Income from operations 17,501 10,627 37,710 30,663
Interest expense, net (6,863) (5,473) (15,902) (15,479)
Amortization of deferred financing costs (129) (75) (317) (227)
Mortgage insurance premium (426) (466) (1,287) (1,294)
Total interest expense (7,418) (6,014) (17,506) (17,000)
Other (loss) income:        
Gain from sale of real estate investments 3,842
Foreign currency transaction loss (833) (1,931) (10,932) (8,775)
Total other loss (833) (1,931) (10,932) (4,933)
Net income 9,250 2,682 9,272 8,730
Less:        
Net income attributable to predecessor (4,943)
Net income attributable to noncontrolling interest (8,232) (2,390) (8,252) (3,368)
Net income attributable to common stockholders 1,018 292 1,020 419
Other comprehensive income:        
Gain (loss) due to foreign currency translation 756 (1,861) 14,767 259
Reclassification of foreign currency transaction losses 833 1,931 10,932 8,775
Comprehensive income attributable to predecessor (9,681)
Comprehensive (income) loss attributable to noncontrolling interest (1,414) (62) (22,872) 574
Comprehensive income 1,193 300 3,847 346
Net income attributable to common stockholders $ 1,018 $ 292 $ 1,020 $ 419
Basic and diluted income per common share $ 0.17 $ 0.05 $ 0.17 $ 0.07
Weighted average number of common shares outstanding 6,044,230 5,849,746 5,925,260 5,849,746