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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Property rentals $ 33,984 $ 33,918 $ 102,166 $ 101,759
Expense reimbursements 16,093 15,968 47,362 44,204
Total revenues 50,077 49,886 149,528 145,963
EXPENSES        
Operating, including fees to Vornado of $1,223, $1,084, $3,369 and $3,068, respectively 17,299 16,978 50,939 47,135
Depreciation and amortization 7,271 7,272 21,812 21,730
General and administrative, including management fees to Vornado of $595 and $1,785 in each three and nine month period 1,127 1,219 3,872 3,858
Total expenses 25,697 25,469 76,623 72,723
OPERATING INCOME 24,380 24,417 72,905 73,240
Interest and other income, net 409 374 1,235 1,147
Interest and debt expense (7,446) (11,140) (24,720) (33,428)
Income before income taxes 17,343 13,651 49,420 40,959
Income tax benefit 349 173 344 166
Net income $ 17,692 $ 13,824 $ 49,764 $ 41,125
Income per common share- basic and diluted:        
Net income per common share- basic and diluted (in dollars per share) $ 3.46 $ 2.71 $ 9.74 $ 8.05
Weighted average shares outstanding (in shares) 5,111,201 5,109,717 5,110,435 5,108,832
Dividends per common share (in dollars per share) $ 3.25 $ 2.75 $ 9.75 $ 8.25