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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
8 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Apr. 30, 2018
Apr. 30, 2017
Apr. 30, 2016
Revenues $ 121,871 $ 111,249 $ 169,745 $ 160,104 $ 145,500
EXPENSES          
Property operating expenses, excluding real estate taxes 37,198 35,581 54,292 47,587 43,741
Real estate taxes 13,521 12,234 18,742 16,739 14,407
Casualty (gain) loss 915 600 500 414 238
Depreciation and amortization 50,456 54,902 82,070 44,253 39,273
Impairment of real estate investments 1,221 256 18,065 57,028 5,543
General and administrative expenses 9,812 9,041 14,203 15,871 13,498
Acquisition and investment related costs 0 0 51 3,276 830
TOTAL EXPENSES 116,786 116,266 193,449 190,214 121,244
Operating income (loss) 5,085 (5,017) (23,704) (30,110) 24,256
Interest expense (21,359) (22,804) (34,178) (34,314) (28,417)
Loss on extinguishment of debt (556) (818) (940) (1,651) (106)
Interest income 1,168 432 1,197 366 78
Other income 65 282 311 780 307
Income (loss) before gain (loss) on sale of real estate and other investments, gain on bargain purchase and income (loss) from discontinued operations (15,597) (27,925) (57,314) (64,929) (3,882)
Gain (loss) on sale of real estate and other investments 9,707 17,816 20,120 18,701 9,640
Gain on bargain purchase 0 0 0 0 3,424
Income (loss) from continuing operations (5,890) (10,109) (37,194) (46,228) 9,182
Income (loss) from discontinued operations 570 150,703 164,823 76,753 67,420
NET INCOME (LOSS) (5,320) 140,594 127,629 30,525 76,602
Net (income) loss attributable to noncontrolling interests – Operating Partnership 1,032 (14,222) (12,702) (4,059) (7,032)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (110) 1,042 1,861 16,881 2,436
Net income (loss) attributable to controlling interests (4,398) 127,414 116,788 43,347 72,006
Dividends to preferred shareholders (4,547) (6,296) (8,569) (10,546) (11,514)
Redemption of preferred shares 0 (3,657) (3,657) (1,435) 0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (8,945) $ 117,461 $ 104,562 $ 31,366 $ 60,492
Earnings (loss) per common share from continuing operations – basic and diluted (in dollars per share) $ (0.79) $ (1.41) $ (3.54) $ (3.01) $ 0.00
Earnings (loss) per common share from discontinued operations – basic and diluted (in dollars per share) 0.04 11.19 12.25 5.59 4.91
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED (in dollars per share) $ (0.75) $ 9.78 $ 8.71 $ 2.58 $ 4.91
Management Service          
EXPENSES          
Property management expense $ 3,663 $ 3,652 $ 5,526 $ 5,046 $ 3,714