XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
REVENUE $ 65,438 $ 50,413 $ 188,868 $ 143,717
EXPENSES        
Property operating expenses, excluding real estate taxes 20,290 14,434 58,315 40,901
Real estate taxes 7,039 5,916 21,103 17,450
Property management expense 2,563 2,203 7,537 6,055
Casualty (gain) loss 276 (10) 1,256 64
Depreciation and amortization 23,720 22,447 79,489 61,747
General and administrative expenses 4,519 4,279 14,240 11,982
TOTAL EXPENSES 58,407 49,269 181,940 138,199
Gain (loss) on sale of real estate and other investments 0 0 27 26,840
Operating income (loss) 7,031 1,144 6,955 32,358
Interest expense (7,871) (7,302) (23,147) (21,622)
Interest and other income (loss) 70 (5,082) 1,116 (4,032)
NET INCOME (LOSS) (770) (11,240) (15,076) 6,704
Dividends to Series D preferred unitholders (160) (160) (480) (480)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 439 1,930 3,546 1,013
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (32) (22) (93) (58)
Net income (loss) attributable to controlling interests (523) (9,492) (12,103) 7,179
Dividends to preferred shareholders (1,607) (1,607) (4,821) (4,821)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (2,130) $ (11,099) $ (16,924) $ 2,358
NET INCOME (LOSS) PER COMMON SHARE – BASIC (in dollars per share) $ (0.14) $ (0.79) $ (1.11) $ 0.17
NET INCOME (LOSS) PER COMMON SHARE – DILUTED (in dollars per share) $ (0.14) $ (0.79) $ (1.11) $ 0.12