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Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES:        
Rental and other property income $ 17,306,000 $ 36,606,000 $ 73,306,000 $ 109,575,000
Hotel income 7,734,000 7,715,000 27,087,000 27,564,000
Interest and other income 4,175,000 3,286,000 12,955,000 10,306,000
REVENUES 29,215,000 47,607,000 113,348,000 147,445,000
EXPENSES:        
Rental and other property operating 13,286,000 20,405,000 49,197,000 59,086,000
Asset management and other fees to related parties 3,981,000 6,121,000 14,155,000 18,475,000
Interest 2,403,000 6,965,000 8,998,000 20,409,000
General and administrative 1,384,000 1,205,000 4,793,000 6,496,000
Transaction costs 340,000 15,000 600,000 359,000
Depreciation and amortization 5,180,000 13,310,000 21,995,000 39,783,000
Loss on early extinguishment of debt (Note 7) 0 0 29,982,000 0
Impairment of real estate (Note 3) 0 0 69,000,000 0
EXPENSES 26,574,000 48,021,000 198,720,000 144,608,000
Gain on sale of real estate (Note 3) 302,000 0 433,104,000 0
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES 2,943,000 (414,000) 347,732,000 2,837,000
Provision for income taxes 87,000 115,000 686,000 795,000
NET INCOME (LOSS) 2,856,000 (529,000) 347,046,000 2,042,000
Net (income) loss attributable to noncontrolling interests (8,000) 1,000 165,000 (15,000)
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 2,848,000 (528,000) 347,211,000 2,027,000
Redeemable preferred stock dividends declared or accumulated (Note 10) (4,470,000) (3,921,000) (12,934,000) (11,380,000)
Redeemable preferred stock redemptions (Note 10) 0   (8,000)  
Redeemable preferred stock redemptions (Note 10)   1,000   3,000
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (1,622,000) $ (4,448,000) $ 334,269,000 $ (9,350,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE: (1)        
Basic (in usd per share) [1] $ (0.11) $ (0.30) $ 22.90 $ (0.64)
Diluted (in usd per share) [1] $ (0.11) $ (0.30) $ 21.24 $ (0.64)
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING: (1)        
Basic (in shares) [1] 14,598 14,598 14,598 14,597
Diluted (in shares) [1] 14,599 14,598 15,825 14,597
[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.