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Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Rental and other property income $ 13,700,000 $ 22,419,000 $ 28,519,000 $ 56,000,000
Hotel income 869,000 9,549,000 8,628,000 19,353,000
Interest and other income 1,941,000 4,888,000 4,898,000 8,780,000
REVENUES 16,510,000 36,856,000 42,045,000 84,133,000
EXPENSES:        
Rental and other property operating 7,492,000 15,658,000 20,007,000 35,911,000
Asset management and other fees to related parties           2,376,000 3,195,000 5,021,000 7,797,000
Interest 2,896,000 2,550,000 6,063,000 6,595,000
General and administrative 1,668,000 1,621,000 3,402,000 3,409,000
Transaction costs 0 216,000 0 260,000
Depreciation and amortization 5,197,000 7,185,000 10,455,000 16,815,000
Loss on early extinguishment of debt (Note 7) 0 4,911,000 0 29,982,000
Impairment of real estate (Note 3) 0 2,800,000 0 69,000,000
EXPENSES 21,242,000 39,229,000 48,055,000 172,146,000
Gain on sale of real estate (Note 3) 0 55,221,000 0 432,802,000
(LOSS) INCOME BEFORE PROVISION FOR INCOME TAXES (4,732,000) 52,848,000 (6,010,000) 344,789,000
Provision for income taxes (691,000) 281,000 (713,000) 599,000
NET (LOSS) INCOME (4,041,000) 52,567,000 (5,297,000) 344,190,000
Net (income) loss attributable to noncontrolling interests (2,000) (1,000) (6,000) 173,000
NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY (4,043,000) 52,566,000 (5,303,000) 344,363,000
Redeemable preferred stock dividends declared or accumulated (Note 10) (3,990,000) (4,302,000) (9,346,000) (8,464,000)
Redeemable preferred stock deemed dividends (Note 10) (52,000) 0 (213,000) 0
Redeemable preferred stock redemptions (Note 10) (56,000) (4,000) (66,000) (8,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (8,141,000) $ 48,260,000 $ (14,928,000) $ 335,891,000
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:        
Basic (in usd per share) [1] $ (0.55) $ 3.31 $ (1.02) $ 23.01
Diluted (in usd per share) [1] $ (0.55) $ 3.20 $ (1.02) $ 22.08
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) [1] 14,782 14,597 14,690 14,598
Diluted (in shares) [1] 14,782 15,284 14,690 15,268
Corporate        
EXPENSES:        
Expense reimbursements to related parties $ 615,000 $ 542,000 $ 1,427,000 $ 1,189,000
Lending Segment        
EXPENSES:        
Expense reimbursements to related parties $ 998,000 $ 551,000 $ 1,680,000 $ 1,188,000
[1] All share and per share amounts have been adjusted to give retroactive effect to the one-for-three reverse stock split of our common stock effected on September 3, 2019.