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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Rental income $ 33,930 $ 35,265 $ 68,435 $ 70,300
Interest income from mortgage loans 7,007 6,625 13,823 13,373
Interest and other income 535 578 1,024 1,417
Total revenues 41,472 42,468 83,282 85,090
Expenses:        
Interest expense 7,655 7,151 15,484 14,622
Depreciation and amortization 9,268 9,308 18,712 18,667
Impairment charges   1,880   1,880
Recovery for doubtful accounts (38) (5) (30) (43)
Transaction costs 6   10 22
General and administrative expenses 4,716 4,386 9,513 9,126
Total expenses 21,607 22,720 43,689 44,274
Operating income 19,865 19,748 39,593 40,816
Income from unconsolidated joint ventures 726 575 1,357 1,020
Gain on sale of real estate, net 48,345 5,054 48,345 5,054
Net income 68,936 25,377 89,295 46,890
Income allocated to participating securities (278) (104) (366) (201)
Net income available to common stockholders $ 68,658 $ 25,273 $ 88,929 $ 46,689
Earnings per common share:        
Basic (in dollars per share) $ 1.74 $ 0.64 $ 2.25 $ 1.19
Diluted (in dollars per share) $ 1.73 $ 0.64 $ 2.25 $ 1.18
Weighted average shares used to calculate earnings per common share:        
Basic (in shares) 39,471 39,414 39,461 39,390
Diluted (in shares) 39,765 39,794 39,750 39,769
Dividends declared and paid per common share (in dollars per share) $ 0.57 $ 0.57 $ 1.14 $ 1.14
Comprehensive Income:        
Net income $ 68,936 $ 25,377 $ 89,295 $ 46,890
Comprehensive income $ 68,936 $ 25,377 $ 89,295 $ 46,890