Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
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REVENUE | ||||
Rental income | $ 207,410 | $ 233,212 | $ 613,687 | $ 694,435 |
Mortgage interest income | 787 | 735 | 2,294 | 2,204 |
Total revenue | 208,197 | 233,947 | 615,981 | 696,639 |
EXPENSES | ||||
Rental expenses | 41,832 | 54,484 | 122,561 | 140,182 |
Real estate taxes | 30,520 | 29,030 | 90,183 | 81,883 |
General and administrative | 9,308 | 11,060 | 29,373 | 32,047 |
Depreciation and amortization | 65,631 | 59,648 | 190,603 | 178,327 |
Total operating expenses | 147,291 | 154,222 | 432,720 | 432,439 |
Gain on sale of real estate, net of tax | 0 | 14,293 | 11,682 | 30,490 |
OPERATING INCOME | 3,688 | 94,018 | 137,725 | 294,690 |
OTHER INCOME/(EXPENSE) | ||||
Other interest income | 538 | 389 | 1,355 | 755 |
Interest expense | (36,228) | (27,052) | (98,746) | (82,567) |
Loss from partnerships | (1,621) | (249) | (6,657) | (1,302) |
NET (LOSS) INCOME | (33,623) | 67,106 | 33,677 | 211,576 |
Net loss (income) attributable to noncontrolling interests | 5,334 | (1,641) | 3,304 | (5,065) |
NET (LOSS) INCOME ATTRIBUTABLE TO THE TRUST | (28,289) | 65,465 | 36,981 | 206,511 |
Dividends on preferred shares | (2,010) | (2,010) | (6,031) | (6,031) |
NET (LOSS) INCOME AVAILABLE FOR COMMON SHAREHOLDERS | $ (30,299) | $ 63,455 | $ 30,950 | $ 200,480 |
EARNINGS PER COMMON SHARE, BASIC AND DILUTED: | ||||
Net (loss) income available for common shareholders | $ (0.41) | $ 0.84 | $ 0.40 | $ 2.68 |
Weighted average number of common shares | 75,404 | 74,832 | 75,386 | 74,584 |
COMPREHENSIVE (LOSS) INCOME | $ (33,165) | $ 66,995 | $ 27,190 | $ 210,857 |
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO THE TRUST | (27,831) | 65,354 | 30,494 | 205,792 |
Other Asset Impairment Charges | $ 57,218 | $ 0 | $ 57,218 | $ 0 |
X | ||||||||||
- Definition Interest income earned from mortgage notes receivable. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income earned from interest bearing assets classified as other. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- Definition The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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