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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2017
INCOME:      
Rental Revenue $ 132,524 $ 115,864 $ 97,660
Reimbursement Revenue 25,998 23,298 18,725
Lease Termination Income 0 210 0
TOTAL INCOME 158,522 139,372 116,385
EXPENSES:      
Real Estate Taxes 20,711 18,596 15,267
Operating Expenses 6,616 5,794 4,887
General and Administrative Expenses 9,081 8,776 7,809
Acquisition Costs 0 0 179
Depreciation 43,020 36,176 29,635
Amortization of Capitalized Lease Costs and Intangible Assets 2,870 2,391 1,825
TOTAL EXPENSES 82,298 71,733 59,602
OTHER INCOME (EXPENSE):      
Dividend Income 15,168 13,121 6,930
Gain on Sale of Securities Transactions 0 111 2,312
Unrealized Holding Gains (Losses) Arising During the Periods (24,680) 0 0
Interest Expense, including Amortization of Financing Costs (36,912) (32,350) (25,754)
TOTAL OTHER INCOME (EXPENSE) (46,424) (19,118) (16,512)
INCOME FROM OPERATIONS 29,800 48,521 40,271
Gain on Sale of Real Estate Investments 0 7,485 0
NET INCOME 29,800 56,006 40,271
Less: Preferred Dividends 18,774 17,191 14,862
Less: Redemption of Preferred Stock 0 0 2,467
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 11,026 $ 38,815 $ 22,942
BASIC INCOME – PER SHARE      
Net Income $ 0.32 $ 0.71 $ 0.56
Less: Preferred Dividends (0.20) (0.22) (0.21)
Less: Redemption of Preferred Stock 0 0 (0.03)
Net Income Attributable to Common Shareholders – Basic 0.12 0.49 0.32
DILUTED INCOME – PER SHARE      
Net Income 0.32 0.71 0.56
Less: Preferred Dividends (0.20) (0.22) (0.21)
Less: Redemption of Preferred Stock 0 0 (0.03)
Net Income Attributable to Common Shareholders – Diluted $ 0.12 $ 0.49 $ 0.32
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands)      
Basic 93,387 78,619 72,114
Diluted 93,485 78,802 72,250