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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Property rentals $ 34,599 $ 33,984 $ 103,654 $ 102,166
Expense reimbursements 17,815 16,093 51,442 47,362
Total revenues 52,414 50,077 155,096 149,528
EXPENSES        
Operating, including fees to Vornado of $1,081, $1,223, $3,298 and $3,369, respectively 19,390 17,299 55,985 50,939
Depreciation and amortization 8,092 7,271 22,783 21,812
General and administrative, including management fees to Vornado of $595 and $1,785 in each three and nine month period, respectively 1,091 1,127 4,261 3,872
Total expenses 28,573 25,697 83,029 76,623
OPERATING INCOME 23,841 24,380 72,067 72,905
Interest and other income, net 427 409 1,237 1,235
Interest and debt expense (6,094) (7,446) (19,963) (24,720)
Income before income taxes 18,174 17,343 53,341 49,420
Income tax (expense) benefit (2) 349 (6) 344
Net income $ 18,172 $ 17,692 $ 53,335 $ 49,764
Net income per common share- basic and diluted (in dollars per share) $ 3.55 $ 3.46 $ 10.43 $ 9.74
Weighted average shares outstanding- basic and diluted (in shares) 5,113,077 5,111,201 5,112,108 5,110,435
Dividends per common share (in dollars per share) $ 3.50 $ 3.25 $ 10.50 $ 9.75