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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Rental income $ 27,116 $ 25,025 $ 53,794 $ 50,277
Interest income from mortgage loans 5,053 4,139 9,660 8,232
Interest and other income 218 63 413 156
Total revenues 32,387 29,227 63,867 58,665
Expenses:        
Interest expense 3,854 3,088 7,620 6,275
Depreciation and amortization 6,977 6,302 13,756 12,600
Provision for doubtful accounts 429 11 432 38
General and administrative expenses 3,952 2,693 7,448 5,615
Total expenses 15,212 12,094 29,256 24,528
Operating income 17,175 17,133 34,611 34,137
Income from unconsolidated joint venture 753   869  
Gain on sale of real estate, net   1,140   1,140
Net income 17,928 18,273 35,480 35,277
Income allocated to participating securities (126) (117) (249) (220)
Income allocated to preferred stockholders (818) (818) (1,636) (1,636)
Net income available to common stockholders $ 16,984 $ 17,338 $ 33,595 $ 33,421
Basic earnings per common share        
Net income available to common stockholders $ 0.48 $ 0.50 $ 0.95 $ 0.97
Diluted earnings per common share        
Net income available to common stockholders $ 0.48 $ 0.50 $ 0.94 $ 0.96
Weighted average shares used to calculate earnings per common share        
Basic (in shares) 35,299 34,597 35,288 34,592
Diluted (in shares) 37,311 36,621 37,302 36,617
Dividends declared and paid per common share (in dollars per share) $ 0.510 $ 0.510 $ 1.020 $ 1.020