XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental property revenues $ 109,569,000 $ 46,575,000 $ 336,093,000 $ 138,382,000
Fee income 2,597,000 1,945,000 6,387,000 5,968,000
Other 993,000 153,000 9,593,000 570,000
Total revenues 113,159,000 48,673,000 352,073,000 144,920,000
Expenses:        
Rental property operating expenses 40,688,000 18,122,000 123,715,000 55,451,000
Reimbursed expenses 895,000 795,000 2,667,000 2,463,000
General and administrative expenses 7,193,000 4,368,000 21,993,000 17,301,000
Interest expense 7,587,000 5,754,000 25,851,000 16,562,000
Depreciation and amortization 47,622,000 16,622,000 152,546,000 49,804,000
Acquisition and transaction costs (677,000) 1,446,000 1,499,000 3,889,000
Other 423,000 173,000 1,063,000 681,000
Total costs and expenses 103,731,000 47,280,000 329,334,000 146,151,000
Gain on extinguishment of debt 429,000 0 2,258,000 0
Income (loss) from continuing operations before unconsolidated joint ventures and gain (loss) on sale of investment properties 9,857,000 1,393,000 24,997,000 (1,231,000)
Income from unconsolidated joint ventures 2,461,000 1,527,000 43,362,000 5,144,000
Income from continuing operations before gain (loss) on sale of investment properties 12,318,000 2,920,000 68,359,000 3,913,000
Gain (loss) on sale of investment properties (33,000) 0 119,729,000 13,944,000
Income from continuing operations 12,285,000 2,920,000 188,088,000 17,857,000
Income from discontinued operations 0 8,737,000 0 24,361,000
Net income 12,285,000 11,657,000 188,088,000 42,218,000
Net income attributable to noncontrolling interests (218,000) 0 (3,181,000) 0
Net income available to common stockholders $ 12,067,000 $ 11,657,000 $ 184,907,000 $ 42,218,000
Per common share information — basic and diluted:        
Income from continuing operations (in usd per share) $ 0.03 $ 0.01 $ 0.45 $ 0.08
Income from discontinued operations (in usd per share) 0.00 0.05 0.00 0.12
Net income (in usd per share) $ 0.03 $ 0.06 $ 0.45 $ 0.20
Weighted average shares — basic 419,998 210,170 414,123 210,400
Weighted average shares — diluted 427,300 210,326 421,954 210,528
Dividends declared per common share (in usd per share) $ 0.06 $ 0.08 $ 0.24 $ 0.24