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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUE:        
Rental income $ 35,531 $ 34,333 $ 105,444 $ 103,271
Tenant reimbursement income 1,373 1,351 4,232 4,194
Other property income 2,960 2,680 8,514 7,892
Property management and other income 202   579  
Total revenue 40,066 38,364 118,769 115,357
EXPENSES:        
Property operating expenses 16,196 16,107 48,106 47,588
Property management expenses 1,328 1,219 4,310 3,710
General and administrative expenses 2,322 2,665 7,128 8,074
Acquisition and integration expenses 569 19 956 37
Depreciation and amortization expense 8,671 7,765 24,289 26,927
Total expenses 29,086 27,775 84,789 86,336
Operating income 10,980 10,589 33,980 29,021
Interest expense (6,963) (8,820) (21,573) (27,815)
Hedge ineffectiveness 12      
Other income (expense)   (2) (5) (2)
Net gains (losses) on sale of assets (92) (1) 15,873 31,773
Gains (losses) on extinguishment of debt     (572) (558)
Acquisition related debt extinguishment expenses (2,781)   (2,781)  
Gains (losses) on TSRE merger   641   732
Net income (loss): 1,156 2,407 24,922 33,151
(Income) loss allocated to noncontrolling interest (59) (140) (1,009) (1,972)
Net income (loss) allocable to common shares $ 1,097 $ 2,267 $ 23,913 $ 31,179
Earnings (loss) per share:        
Basic $ 0.02 $ 0.05 $ 0.34 $ 0.66
Diluted $ 0.02 $ 0.05 $ 0.34 $ 0.66
Weighted-average shares:        
Basic 71,972,394 47,215,918 69,875,802 47,164,543
Diluted 72,144,544 47,314,629 70,105,571 47,190,139