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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Rental revenues $ 29,272 $ 24,307 $ 57,106 $ 48,554
Expenses:        
Depreciation 7,020 6,230 14,214 12,461
Amortization 1,207 757 2,111 1,514
Loss on real estate investment impairment 2,451
General and administrative expenses 2,101 951 3,643 2,413
Property taxes 3,446 3,717 7,161 7,435
Facility rent expenses 200 136 393 272
Total expenses 13,974 11,791 27,522 26,546
Income from operations 15,298 12,516 29,584 22,008
Interest expense, net (7,706) (5,310) (15,438) (10,118)
Amortization of deferred financing costs (161) (123) (323) (253)
Mortgage insurance premium (391) (418) (791) (833)
Total interest expense (8,258) (5,851) (16,552) (11,204)
Other loss:        
Other expense (983) (983)
Net income 7,040 5,682 13,032 9,821
Less -        
Net income attributable to non-controlling interest (6,102) (4,984) (11,348) (8,628)
Net income attributable to common stockholders 938 698 1,684 1,193
Other comprehensive income:        
Gain due to foreign currency translation 2,635 1,966 3,985 4,284
Comprehensive income attributable to non-controlling interest (2,284) (1,724) (3,466) (3,765)
Comprehensive income 1,289 940 2,203 1,712
Net income attributable to common stockholders $ 938 $ 698 $ 1,684 $ 1,193
Basic income per common share $ 0.14 $ 0.11 $ 0.26 $ 0.19
Diluted income per common share $ 0.14 $ 0.11 $ 0.26 $ 0.19
Weighted average number of common shares outstanding, Basic 6,478,058 6,365,856 6,478,173 6,365,856
Weighted average number of common shares outstanding, Diluted 6,478,058 6,365,856 6,478,173 6,365,856