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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
Rental income $ 35,035 $ 31,880
Interest income from mortgage loans 6,748 6,578
Interest and other income 839 146
Total revenues 42,622 38,604
Expenses:    
Interest expense 7,471 6,000
Depreciation and amortization 9,359 8,561
(Recovery) provision for doubtful accounts (38) 84
Transaction costs 22 90
General and administrative expenses 4,740 4,283
Total expenses 21,554 19,018
Operating income 21,068 19,586
Income from unconsolidated joint ventures 445 272
Net income 21,513 19,858
Income allocated to participating securities (97) (101)
Net income available to common stockholders $ 21,416 $ 19,757
Earnings per common share    
Basic (in dollars per share) $ 0.54 $ 0.53
Diluted (in dollars per share) $ 0.54 $ 0.53
Weighted average shares used to calculate earnings per common share    
Basic (in shares) 39,366 37,446
Diluted (in shares) 39,612 37,459
Dividends per share declared (in dollars per share) $ 0.57 $ 0.54
Dividends paid per common share (in dollars per share) $ 0.57 $ 0.54