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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Property rentals $ 38,250 $ 37,970 $ 115,109 $ 114,507
Expense reimbursements 20,875 20,124 60,149 58,006
EXPENSES        
Operating, including fees to Vornado of $1,158, $1,146, $3,433 and $3,365, respectively 26,419 21,272 70,207 62,937
Depreciation and amortization 8,225 8,430 25,208 24,613
General and administrative, including management fees to Vornado of $595 and $1,785 in each three and nine month period, respectively 1,125 1,228 4,075 4,080
Total expenses 35,769 30,930 99,490 91,630
OPERATING INCOME 23,356 27,164 75,768 80,883
Interest and other income, net 3,813 2,081 8,581 4,105
Interest and debt expense (11,341) (8,940) (32,115) (22,355)
Change in fair value of marketable securities (see Note 7) (824) 0 (5,561) 0
Income before income taxes 15,004 20,305 46,673 62,633
Income tax expense (1) (6) (3) (7)
Income from continuing operations 15,003 20,299 46,670 62,626
Loss from discontinued operations (see Note 8) 0 0 (23,797) 0
Net income $ 15,003 $ 20,299 $ 22,873 $ 62,626
Income from continuing operations - basic and diluted (in usd per share) $ 2.93 $ 3.97 $ 9.12 $ 12.24
Loss from discontinuing operations (see Note 8) - basic and diluted (in usd per share) 0.00 0.00 (4.65) 0.00
Net income per common share - basic and diluted (in usd per share) $ 2.93 $ 3.97 $ 4.47 $ 12.24
Weighted average shares outstanding - basic and diluted 5,117,347 5,115,982 5,116,667 5,115,339
Dividends per common share (in usd per share) $ 4.5 $ 4.25 $ 13.5 $ 12.75
Real Estate        
REVENUES        
Total revenues $ 59,125 $ 58,094 $ 175,258 $ 172,513