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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
REVENUE $ 63,116 $ 46,656 $ 123,430 $ 93,304
EXPENSES        
Property operating expenses, excluding real estate taxes 19,011 13,018 38,025 26,467
Real estate taxes 7,205 5,742 14,064 11,534
Property management expense 2,721 2,085 4,974 3,852
Casualty (gain) loss 382 (27) 980 74
Depreciation and amortization 24,768 19,308 55,769 39,300
General and administrative expenses 5,221 3,797 9,721 7,703
TOTAL EXPENSES 59,308 43,923 123,533 88,930
Gain (loss) on sale of real estate and other investments 27 26,840 27 26,840
Operating income (loss) 3,835 29,573 (76) 31,214
Interest expense (7,561) (7,089) (15,276) (14,320)
Interest and other income (loss) (17) 619 1,046 1,050
NET INCOME (LOSS) (3,743) 23,103 (14,306) 17,944
Dividends to Series D preferred unitholders (160) (160) (320) (320)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 950 (1,386) 3,107 (917)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (38) (19) (61) (36)
Net income (loss) attributable to controlling interests (2,991) 21,538 (11,580) 16,671
Dividends to preferred shareholders (1,607) (1,607) (3,214) (3,214)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (4,598) $ 19,931 $ (14,794) $ 13,457
NET EARNINGS (LOSS) PER COMMON SHARE - BASIC (in dollars per share) $ (0.30) $ 1.49 $ (0.97) $ 1.02
NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED (in dollars per share) $ (0.30) $ 1.48 $ (0.97) $ 1.02