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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental income $ 33,072 $ 27,116 $ 64,952 $ 53,794
Interest income from mortgage loans 6,811 5,053 13,389 9,660
Interest and other income 113 218 259 413
Total revenues 39,996 32,387 78,600 63,867
Expenses:        
Interest expense 6,750 3,854 12,750 7,620
Depreciation and amortization 8,907 6,977 17,468 13,756
Provision for doubtful accounts 118 429 202 432
Acquisition costs 4 14 94 62
General and administrative expenses 4,117 3,938 8,400 7,386
Total expenses 19,896 15,212 38,914 29,256
Operating income 20,100 17,175 39,686 34,611
Income from unconsolidated joint ventures 278 753 550 869
Gain on sale of real estate, net 1,802   1,802  
Net income 22,180 17,928 42,038 35,480
Income allocated to participating securities (105) (126) (206) (249)
Income allocated to preferred stockholders   (818)   (1,636)
Net income available to common stockholders $ 22,075 $ 16,984 $ 41,832 $ 33,595
Earnings per common share        
Basic (in dollars per share) $ 0.58 $ 0.48 $ 1.11 $ 0.95
Diluted (in dollars per share) $ 0.58 $ 0.48 $ 1.11 $ 0.94
Weighted average shares used to calculate earnings per common share        
Basic (in shares) 37,969 35,299 37,707 35,288
Diluted (in shares) 38,164 37,311 37,720 37,302
Dividends per share declared (in dollars per share) $ 0.54 $ 0.51 $ 1.08 $ 1.02
Dividends paid per common share (in dollars per share) $ 0.54 $ 0.51 $ 1.08 $ 1.02