XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenue $ 64,506 $ 67,897
EXPENSES    
Property operating expenses, excluding real estate taxes 18,764 21,342
Real estate taxes 6,305 7,581
Property management expense 2,330 2,568
Casualty loss 820 252
Depreciation and amortization 27,012 25,993
General and administrative expenses 4,623 7,723
TOTAL EXPENSES 59,854 65,459
Gain (loss) on sale of real estate and other investments (577) 60,159
Operating income 4,075 62,597
Interest expense (9,207) (10,319)
Interest and other income 340 49
Net income (loss) (4,792) 52,327
Dividends to Series D preferred unitholders (160) (160)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 1,079 (8,566)
Net income attributable to noncontrolling interests – consolidated real estate entities (32) (30)
Net income (loss) attributable to controlling interests (3,905) 43,571
Dividends to preferred shareholders (1,607) (1,607)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (5,512) $ 41,964
Net income (loss) per common share - basic (in dollars per share) $ (0.37) $ 2.79
Net income (loss) per common share - diluted (in dollars per share) $ (0.37) $ 2.76
Weighted average shares - basic (in shares) 14,922 15,025
Weighted average shares - diluted (in shares) 14,922 18,359