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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental income $ 33,233 $ 33,753 $ 103,533 $ 98,705
Interest income from mortgage loans 6,677 6,958 20,050 20,347
Interest and other income 1,336 131 2,753 390
Total revenues 41,246 40,842 126,336 119,442
Expenses:        
Interest expense 7,644 6,836 22,266 19,586
Depreciation and amortization 9,519 9,155 28,186 26,623
Impairment on receivables     1,880  
(Recovery) provision for doubtful accounts (96) 43 (139) 245
Transaction costs 34 2 56 96
General and administrative expenses 4,144 4,464 13,270 12,864
Total expenses 21,245 20,500 65,519 59,414
Operating income 20,001 20,342 60,817 60,028
Income from unconsolidated joint ventures 615 289 1,635 839
Gain on sale of real estate, net   1,780 5,054 3,582
Net income 20,616 22,411 67,506 64,449
Income allocated to participating securities (80) (90) (281) (296)
Net income available to common stockholders $ 20,536 $ 22,321 $ 67,225 $ 64,153
Earnings per common share:        
Basic (in dollars per share) $ 0.52 $ 0.57 $ 1.71 $ 1.68
Diluted (in dollars per share) $ 0.52 $ 0.57 $ 1.70 $ 1.68
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 39,428 39,057 39,403 38,161
Diluted (in shares) 39,748 39,335 39,738 38,455
Dividends per share declared (in dollars per share) $ 0.57 $ 0.54 $ 1.71 $ 1.62
Dividends paid per common share (in dollars per share) $ 0.57 $ 0.54 $ 1.71 $ 1.62