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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Property rentals $ 37,598 $ 34,599 $ 113,129 $ 103,654
Expense reimbursements 19,522 17,815 56,554 51,442
Total revenues 57,120 52,414 169,683 155,096
EXPENSES        
Operating, including fees to Vornado of $1,082, $1,081, $3,389 and $3,298, respectively 21,714 19,390 60,702 55,985
Depreciation and amortization 8,045 8,092 25,745 22,783
General and administrative, including management fees to Vornado of $595 and $1,785 in each three and nine month period, respectively 1,225 1,091 4,285 4,261
Total expenses 30,984 28,573 90,732 83,029
OPERATING INCOME 26,136 23,841 78,951 72,067
Interest and other income, net 522 427 2,388 1,237
Interest and debt expense (5,615) (6,094) (16,476) (19,963)
Income before income taxes 21,043 18,174 64,863 53,341
Income tax expense (7) (2) (41) (6)
Net income $ 21,036 $ 18,172 $ 64,822 $ 53,335
Income per common share- basic and diluted:        
Net income per common share- basic and diluted (in dollars per share) $ 4.11 $ 3.55 $ 12.68 $ 10.43
Weighted average shares outstanding - basic and diluted (in shares) 5,114,701 5,113,077 5,113,877 5,112,108
Dividends per common share (in dollars per share) $ 4 $ 3.5 $ 12 $ 10.5