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v2.4.0.8

Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012
REVENUE: |  |  |  |
Rental income | $ 4,218 | $ 3,652 | $ 8,396 | $ 7,218
Tenant reimbursement and other property income | 220 | 201 | 443 | 394
Other income | 262 | 233 | 549 | 464
Total revenue | 4,700 | 4,086 | 9,388 | 8,076
EXPENSES: |  |  |  |
Property operating expenses | 2,241 | 1,924 | 4,406 | 3,809
General and administrative expenses | 94 | 247 | 271 | 499
Asset Management Fees | 79 | 53 | 161 | 106
Acquisition expenses |  | 13 |  | 40
Depreciation and amortization | 1,063 | 811 | 2,099 | 1,631
Total expenses | 3,477 | 3,048 | 6,937 | 6,085
Operating Income | 1,223 | 1,038 | 2,451 | 1,991
Interest expense | (899) | (799) | (1,787) | (1,599)
Net income (loss): | 324 | 239 | 664 | 392
Income allocated to preferred shares | (4) | (4) | (8) | (8)
Income (loss) allocated to non-controlling interest | (272) | (249) | (604) | (424)
Net income (loss) allocable to common shares | $ 48 | $ (14) | $ 52 | $ (40)
Earnings (loss) per share: |  |  |  |
Basic | $ 0.01 | $ (0.04) | $ 0.03 | $ (0.18)
Diluted | $ 0.01 | $ (0.04) | $ 0.03 | $ (0.18)
Weighted-average shares: |  |  |  |
Basic | 3,556,349 | 320,000 | 1,959,998 | 222,747
Diluted | 3,556,349 | 320,000 | 1,959,998 | 222,747
Dividends declared per common share | $ 0.16 | $ 0.15 | $ 0.31 | $ 0.30

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