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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized quarterly financial data is as follows:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2019
 
 
 
 
 
 
 
Revenue
$
232,227

 
$
230,465

 
$
233,947

 
$
239,149

Operating income (1)
$
91,093

 
$
109,579

 
$
94,018

 
$
176,221

Net income (1)
$
61,803

 
$
82,667

 
$
67,106

 
$
148,966

Net income attributable to the Trust (1)
$
60,144

 
$
80,902

 
$
65,465

 
$
147,355

Net income available for common shareholders (1)
$
58,134

 
$
78,891

 
$
63,455

 
$
145,344

Earnings per common share—basic (1)
$
0.78

 
$
1.05

 
$
0.84

 
$
1.92

Earnings per common share—diluted (1)
$
0.78

 
$
1.05

 
$
0.84

 
$
1.92

 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2018
 
 
 
 
 
 
 
Revenue
$
225,405

 
$
224,902

 
$
229,753

 
$
235,376

Operating income (2)
$
89,461

 
$
93,868

 
$
93,467

 
$
84,840

Net income (2)
$
62,931

 
$
65,533

 
$
64,180

 
$
56,382

Net income attributable to the Trust (2)
$
61,247

 
$
63,595

 
$
62,558

 
$
54,507

Net income available for common shareholders (2)
$
59,237

 
$
61,584

 
$
60,548

 
$
52,496

Earnings per common share—basic (2)
$
0.81

 
$
0.84

 
$
0.82

 
$
0.71

Earnings per common share—diluted (2)
$
0.81

 
$
0.84

 
$
0.82

 
$
0.71

 
(1)
Second and third quarter 2019 include net gains of $16.2 million and $14.3 million, respectively, related to the sale of two properties and one parcel of land, as well as condominiums sold at our Assembly Row and Pike & Rose properties. Third quarter 2019 also includes an $11.9 million charge related to the buyout of a lease at Assembly Square Marketplace. Fourth quarter 2019 includes an $85.1 million net gain on sale under the threat of condemnation of a portion of San Antonio Center. All of these transactions are further discussed in Note 3.
(2)
First and second quarter 2018 include net gains of $3.3 million and $4.0 million, respectively, related to condominiums sold at our Assembly Row and Pike & Rose properties. Third and fourth quarter 2018 include gains of $3.1 million and $1.6 million, respectively, related to the sale of one residential building and one property. All of these transactions are further discussed in Note 3.