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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE:        
Rental and other property revenue $ 158,104 $ 163,601 $ 318,436 $ 324,736
Other revenue 298 354 501 594
Total revenue 158,402 163,955 318,937 325,330
EXPENSES:        
Property operating expenses 60,883 62,071 120,854 121,327
Property management expenses 7,666 6,818 15,165 13,189
General and administrative expenses 6,244 5,910 14,624 14,063
Depreciation and amortization expense 54,127 53,984 107,850 107,520
Casualty losses 465 680 2,767 831
Total expenses 129,385 129,463 261,260 256,930
Interest expense (17,460) (22,227) (38,063) (44,351)
(Loss on impairment) gain on sale of real estate assets, net (152) 0 10,378 985
Gain on extinguishment of debt 0 0 203 0
Other (loss) income, net 0 (72) (1) 21
Loss from investments in unconsolidated real estate entities (850) (1,205) (1,679) (1,981)
Restructuring costs 0 0 0 (3,213)
Net income: 10,555 10,988 28,515 19,861
Income allocated to noncontrolling interest (201) (279) (585) (503)
Net income allocable to common shares $ 10,354 $ 10,709 $ 27,930 $ 19,358
Earnings per share:        
Basic (in dollars per share) $ 0.05 $ 0.05 $ 0.12 $ 0.09
Diluted (in dollars per share) $ 0.05 $ 0.05 $ 0.12 $ 0.09
Weighted-average shares:        
Basic (in shares) 224,793,229 224,422,515 224,710,259 224,325,246
Diluted (in shares) 225,418,825 225,073,890 225,403,082 225,088,261