| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) |
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
The following is a summary of quarterly financial information for the year ended December 31, 2016.
| | | | | | | | | | | | | | | | | | Three Months Ended | | March 31, | | June 30, | | September 30, | | December 31, | | (in thousands, except per share data) | 2016 | | | | | | | | Revenues from continuing operations | $ | 68,617 |
| | $ | 68,360 |
| | $ | 64,332 |
| | $ | 64,622 |
| Gain on sale of real estate | 24,739 |
| | — |
| | 14,927 |
| | — |
| Net income (loss) from continuing operations | 26,293 |
| | (810 | ) | | 8,382 |
| | (3,153 | ) | Net income from discontinued operations | 690 |
| | 1,668 |
| | 703 |
| | 792 |
| Net income (loss) | 26,983 |
| | 858 |
| | 9,085 |
| | (2,361 | ) | Net income (loss) attributable to the Company | 26,980 |
| | 849 |
| | 9,088 |
| | (2,370 | ) | Redeemable preferred stock dividends | — |
| | — |
| | — |
| | (9 | ) | Net income (loss) available to common stockholders | 26,980 |
| | 849 |
| | 9,088 |
| | (2,379 | ) | BASIC AND DILUTED NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS PER SHARE (1): | | | | | | | | Continuing operations | $ | 0.27 |
| | $ | (0.01 | ) | | $ | 0.10 |
| | $ | (0.04 | ) | Discontinued operations | $ | 0.01 |
| | $ | 0.02 |
| | $ | 0.01 |
| | $ | 0.01 |
| Net income | $ | 0.28 |
| | $ | 0.01 |
| | $ | 0.10 |
| | $ | (0.03 | ) | Weighted average shares of common stock outstanding - basic | 97,662 |
| | 96,683 |
| | 87,045 |
| | 84,048 |
| Weighted average shares of common stock outstanding - diluted | 97,662 |
| | 96,683 |
| | 87,045 |
| | 84,048 |
| | | | | | | | | Revenues from continuing operations (2) | $ | 66,390 |
| | $ | 65,438 |
| | $ | 64,332 |
| | $ | 64,622 |
| Revenues subsequently reclassified from discontinued operations | 2,227 |
| | 2,922 |
| | — |
| | — |
| Revenues from continuing operations, as adjusted | $ | 68,617 |
| | $ | 68,360 |
| | $ | 64,332 |
| | $ | 64,622 |
| | | | | | | | | Net income (loss) from continuing operations (2) | $ | 25,554 |
| | $ | (1,965 | ) | | $ | 8,382 |
| | $ | (3,153 | ) | Net income from continuing operations subsequently reclassified from discontinued operations | 739 |
| | 1,155 |
| | — |
| | — |
| Net income (loss) from continuing operations, as adjusted | $ | 26,293 |
| | $ | (810 | ) | | $ | 8,382 |
| | $ | (3,153 | ) | | | | | | | | | Net income from discontinued operations (2) | $ | 1,429 |
| | $ | 2,823 |
| | $ | 703 |
| | $ | 792 |
| Net income from discontinued operations subsequently reclassified to continuing operations | (739 | ) | | (1,155 | ) | | — |
| | — |
| Net income from discontinued operations, as adjusted | $ | 690 |
| | $ | 1,668 |
| | $ | 703 |
| | $ | 792 |
|
| | (1) | EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding. |
| | (2) | For the three months ended March 31, June 30 and September 30, 2016, as previously reported in the respective Form 10-Qs. |
The following is a summary of quarterly financial information for the year ended December 31, 2015.
| | | | | | | | | | | | | | | | | | Three Months Ended | | March 31, | | June 30, | | September 30, | | December 31, | | (in thousands except per share data) | 2015 | | | | | | | | Revenues from continuing operations | $ | 69,249 |
| | $ | 69,237 |
| | $ | 68,460 |
| | $ | 70,002 |
| Gain on sale of real estate | — |
| | — |
| | — |
| | 3,092 |
| Net income from continuing operations | 12 |
| | 1,802 |
| | 601 |
| | 3,697 |
| Net income from discontinued operations | 2,720 |
| | 3,180 |
| | 4,640 |
| | 7,751 |
| Net income | 2,732 |
| | 4,982 |
| | 5,241 |
| | 11,448 |
| Net income attributable to the Company | 2,732 |
| | 4,976 |
| | 5,242 |
| | 11,442 |
| Redeemable preferred stock dividends | — |
| | — |
| | — |
| | — |
| Net income available to common stockholders | 2,732 |
| | 4,976 |
| | 5,242 |
| | 11,442 |
| BASIC AND DILUTED NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE (1): | | | | | | | | Continuing operations | $ | — |
| | $ | 0.02 |
| | $ | 0.01 |
| | $ | 0.04 |
| Discontinued operations | $ | 0.03 |
| | $ | 0.03 |
| | $ | 0.05 |
| | $ | 0.08 |
| Net income | $ | 0.03 |
| | $ | 0.05 |
| | $ | 0.05 |
| | $ | 0.12 |
| Weighted average shares of common stock outstanding - basic | 97,582 |
| | 97,589 |
| | 97,590 |
| | 97,590 |
| Weighted average shares of common stock outstanding - diluted | 97,582 |
| | 97,589 |
| | 97,590 |
| | 97,590 |
| | | | | | | | | Revenues from continuing operations (2) | $ | 67,239 |
| | $ | 66,919 |
| | $ | 66,395 |
| | $ | 67,874 |
| Revenues subsequently reclassified from discontinued operations | 2,010 |
| | 2,318 |
| | 2,065 |
| | 2,128 |
| Revenues from continuing operations, as adjusted | $ | 69,249 |
| | $ | 69,237 |
| | $ | 68,460 |
| | $ | 70,002 |
| | | | | | | | | Net income (loss) from continuing operations (2) | $ | (230 | ) | | $ | 998 |
| | $ | 233 |
| | $ | 3,123 |
| Net income from continuing operations subsequently reclassified from discontinued operations | 242 |
| | 804 |
| | 368 |
| | 574 |
| Net income from continuing operations, as adjusted | $ | 12 |
| | $ | 1,802 |
| | $ | 601 |
| | $ | 3,697 |
| | | | | | | | | Net income from discontinued operations (2) | $ | 2,962 |
| | $ | 3,984 |
| | $ | 5,008 |
| | $ | 8,325 |
| Net income from discontinued operations subsequently reclassified to continuing operations | (242 | ) | | (804 | ) | | (368 | ) | | (574 | ) | Net income from discontinued operations, as adjusted | $ | 2,720 |
| | $ | 3,180 |
| | $ | 4,640 |
| | $ | 7,751 |
|
| | (1) | EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding. |
| | (2) | For the three months ended March 31, June 30, September 30 and December 31, 2015, as previously reported in the Form 10-K. |
|