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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUE:        
Rental and other property revenue $ 168,375 $ 160,300 $ 493,111 $ 464,921
Other revenue 232 300 826 805
Total revenue 168,607 160,600 493,937 465,726
EXPENSES:        
Property operating expenses 63,300 59,967 184,627 174,825
Property management expenses 7,232 5,744 20,421 17,440
General and administrative expenses 3,660 5,625 17,724 20,521
Depreciation and amortization expense 55,546 49,722 163,066 200,688
Casualty losses (gains), net 35 (191) 866 (7,176)
Total expenses 129,773 120,867 386,704 406,298
Interest expense (22,033) (22,093) (66,383) (63,618)
(Loss on impairment) gain on sale of real estate assets, net (11,268) 0 (10,284) 94,712
Merger and integration costs 0 (275) 0 (3,477)
Other (loss) income, net (369) 765 (348) 1,501
Loss from investments in unconsolidated real estate entities (1,178) (1,477) (3,158) (2,411)
Restructuring costs 0 0 (3,213) 0
Net income: 3,986 16,653 23,847 86,135
Income allocated to noncontrolling interest (56) (430) (559) (2,517)
Net income allocable to common shares $ 3,930 $ 16,223 $ 23,288 $ 83,618
Earnings per share:        
Basic (in dollars per share) $ 0.02 $ 0.07 $ 0.10 $ 0.38
Diluted (in dollars per share) $ 0.02 $ 0.07 $ 0.10 $ 0.38
Weighted-average shares:        
Basic (in shares) 224,498,374 221,960,609 224,383,590 221,312,261
Diluted (in shares) 225,140,555 222,867,546 225,103,475 222,359,585