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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Rental property revenues $ 114,007,000 $ 46,454,000 $ 226,524,000 $ 91,807,000
Fee income 1,854,000 1,824,000 3,791,000 4,023,000
Other 3,174,000 27,000 8,600,000 417,000
Total revenues 119,035,000 48,305,000 238,915,000 96,247,000
Costs and expenses:        
Rental property operating expenses 41,501,000 19,526,000 83,026,000 37,330,000
Reimbursed expenses 907,000 798,000 1,772,000 1,668,000
General and administrative expenses 8,618,000 4,691,000 14,828,000 12,934,000
Interest expense 8,523,000 5,369,000 18,264,000 10,808,000
Depreciation and amortization 50,040,000 16,641,000 104,924,000 33,182,000
Acquisition and transaction costs 246,000 2,424,000 2,177,000 2,443,000
Other 236,000 152,000 612,000 507,000
Total costs and expenses 110,071,000 49,601,000 225,603,000 98,872,000
Gain on extinguishment of debt 1,829,000 0 1,829,000 0
Income (loss) from continuing operations before unconsolidated joint ventures and gain (loss) on sale of investment properties 10,793,000 (1,296,000) 15,141,000 (2,625,000)
Income from unconsolidated joint ventures 40,320,000 1,784,000 40,901,000 3,618,000
Income from continuing operations before gain (loss) on sale of investment properties 51,113,000 488,000 56,042,000 993,000
Gain (loss) on sale of investment properties 119,832,000 (246,000) 119,761,000 13,944,000
Income from continuing operations 170,945,000 242,000 175,803,000 14,937,000
Income from discontinued operations 0 7,523,000 0 15,624,000
Net income 170,945,000 7,765,000 175,803,000 30,561,000
Net income attributable to noncontrolling interests (2,856,000) 0 (2,963,000) 0
Net income available to common stockholders $ 168,089,000 $ 7,765,000 $ 172,840,000 $ 30,561,000
Per common share information — basic and diluted:        
Income from continuing operations (in usd per share) $ 0.40 $ 0.00 $ 0.42 $ 0.07
Income from discontinued operations (in usd per share) 0.00 0.04 0.00 0.08
Net income (in usd per share) $ 0.40 $ 0.04 $ 0.42 $ 0.15
Weighted average shares — basic 419,402 210,129 411,137 210,516
Weighted average shares — diluted 427,180 210,362 419,227 210,687
Dividends declared per common share (in usd per share) $ 0.06 $ 0.08 $ 0.18 $ 0.16