XML 61 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUE    
Minimum rent $ 24,666 $ 21,030
Percentage rent 107 195
Recovery income from tenants 8,407 7,711
Other property income 533 723
Management and other fee income 804 967
TOTAL REVENUE 34,517 30,626
EXPENSES    
Real estate taxes 4,648 4,206
Recoverable operating expense 4,217 3,821
Other non-recoverable operating expense 750 680
Depreciation and amortization 10,912 8,557
General and administrative expense 5,500 4,878
TOTAL EXPENSES 26,027 22,142
INCOME BEFORE OTHER INCOME AND EXPENSES, TAX AND DISCONTINUED OPERATIONS 8,490 8,484
OTHER INCOME AND EXPENSES    
Other expense, net (136) (112)
Gain on sale of real estate 3,582 69
(Loss) earnings from unconsolidated joint ventures (5,674) 496
Interest expense (6,073) (6,626)
Amortization of deferred financing fees (341) (377)
Deferred gain recognized upon acquisition of real estate 5,282  
INCOME FROM CONTINUING OPERATIONS BEFORE TAX 5,130 1,934
Income tax provision (43) (25)
INCOME FROM CONTINUING OPERATIONS 5,087 1,909
DISCONTINUED OPERATIONS    
Gain on sale of real estate   264
Provision for impairment   (2,536)
Income from discontinued operations 187 311
INCOME (LOSS) FROM DISCONTINUED OPERATIONS 187 (1,961)
NET INCOME (LOSS) 5,274 (52)
Net (income) loss attributable to noncontrolling partner interest (225) 534
NET INCOME ATTRIBUTABLE TO RPT 5,049 482
Preferred share dividends (1,812) (1,812)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS 3,237 (1,330)
EARNINGS (LOSS) PER COMMON SHARE, BASIC    
Continuing operations $ 0.06 $ 0.01
Discontinued operations   $ (0.04)
Net income (loss) available to common shareholders $ 0.06 $ (0.03)
EARNINGS (LOSS) PER COMMON SHARE, DILUTED    
Continuing operations $ 0.06 $ 0.01
Discontinued operations   $ (0.04)
Net income (loss) available to common shareholders $ 0.06 $ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic 51,780 38,884
Diluted 52,212 39,150
OTHER COMPREHENSIVE INCOME (LOSS)    
Net income (loss) 5,274 (52)
Comprehensive income 5,832 196
Gain on interest rate swaps 558 248
Comprehensive income attributable to noncontrolling interest (24) (14)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT $ 5,808 $ 182