XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES:        
Rental and other property income $ 55,956,000 $ 61,624,000 $ 116,765,000 $ 124,472,000
Expense reimbursements 2,526,000 3,316,000 5,556,000 6,244,000
Interest and other income 2,817,000 3,420,000 5,927,000 6,261,000
REVENUES 61,299,000 68,360,000 128,248,000 136,977,000
EXPENSES:        
Rental and other property operating 27,249,000 32,299,000 50,209,000 63,577,000
Asset management and other fees to related parties 7,863,000 8,376,000 16,563,000 17,007,000
Interest 9,513,000 7,295,000 19,286,000 14,110,000
General and administrative 1,647,000 2,131,000 3,326,000 4,073,000
Transaction costs 11,615,000 118,000 11,628,000 267,000
Depreciation and amortization 14,761,000 18,480,000 31,992,000 36,538,000
Impairment of real estate 13,100,000 0 13,100,000 0
EXPENSES 85,748,000 68,699,000 146,104,000 135,572,000
Gain on sale of real estate 116,283,000 0 304,017,000 24,739,000
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES 91,834,000 (339,000) 286,161,000 26,144,000
Provision for income taxes 462,000 471,000 854,000 661,000
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 91,372,000 (810,000) 285,307,000 25,483,000
DISCONTINUED OPERATIONS:        
Income from operations of assets held for sale 0 1,668,000 0 2,358,000
NET INCOME FROM DISCONTINUED OPERATIONS 0 1,668,000 0 2,358,000
NET INCOME 91,372,000 858,000 285,307,000 27,841,000
Net income attributable to noncontrolling interests (9,000) (9,000) (14,000) (12,000)
NET INCOME ATTRIBUTABLE TO THE COMPANY 91,363,000 849,000 285,293,000 27,829,000
Redeemable preferred stock dividends (72,000) 0 (103,000) 0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 91,291,000 $ 849,000 $ 285,190,000 $ 27,829,000
BASIC AND DILUTED NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS PER SHARE:        
Continuing operations (in usd per share) $ 1.16 $ (0.01) $ 3.50 $ 0.26
Discontinued operations (in usd per share) 0.00 0.02 0.00 0.02
Net income (in usd per share) $ 1.16 $ 0.01 $ 3.50 $ 0.29
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 78,871 96,683 81,445 97,173
Diluted (in shares) 78,871 96,683 81,445 97,173