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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE:        
Rental income $ 35,176 $ 34,185 $ 69,913 $ 68,938
Tenant reimbursement income 1,398 1,405 2,859 2,843
Other property income 2,857 2,737 5,554 5,212
Property management and other income 130   377  
Total revenue 39,561 38,327 78,703 76,993
EXPENSES:        
Property operating expenses 15,918 15,623 31,910 31,481
Property management expenses 1,444 1,229 2,982 2,491
General and administrative expenses 2,706 2,787 4,806 5,409
Acquisition and integration expenses 265 8 387 18
Depreciation and amortization expense 8,011 7,635 15,618 19,162
Total expenses 28,344 27,282 55,703 58,561
Operating income 11,217 11,045 23,000 18,432
Interest expense (7,162) (9,018) (14,610) (18,995)
Hedge ineffectiveness (12)   (12)  
Other income (expense)     (5)  
Net gains (losses) on sale of assets 16,050 29,321 15,965 31,774
Gains (losses) on extinguishment of debt (572) (558) (572) (558)
Gains (losses) on TSRE merger       91
Net income (loss): 19,521 30,790 23,766 30,744
(Income) loss allocated to noncontrolling interest (782) (1,803) (950) (1,832)
Net income (loss) allocable to common shares $ 18,739 $ 28,987 $ 22,816 $ 28,912
Earnings (loss) per share:        
Basic $ 0.27 $ 0.61 $ 0.33 $ 0.61
Diluted $ 0.27 $ 0.61 $ 0.33 $ 0.61
Weighted-average shares:        
Basic 68,832,855 47,183,804 68,810,131 47,138,573
Diluted 68,943,869 47,229,736 69,007,862 47,159,220