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Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income        
Rental income $ 47,443 $ 48,686 $ 96,089 $ 96,458
Tenant recovery income 14,188 12,920 28,076 25,950
Other property income 626 374 1,091 1,875
Other fee income 1,102 988 2,194 2,082
Total income 63,359 62,968 127,450 126,365
Expenses        
General and administrative expenses 11,921 14,876 24,260 28,257
Property operating expenses 7,920 7,300 15,767 15,327
Real estate taxes 9,364 9,317 17,695 18,861
Depreciation and amortization 23,333 22,542 46,778 43,291
Provision for asset impairment 0 29,931 16,440 38,321
Total expenses 52,538 83,966 120,940 144,057
Operating income (loss) 10,821 (20,998) 6,510 (17,692)
Interest and dividend income 745 2,707 2,915 5,409
Gain on sale of investment properties 13,360 52,385 14,381 76,411
Gain (loss) on extinguishment of debt 882 (4,723) 882 (5,672)
Other (expense) income (79) 364 (3,282) 448
Interest expense (8,617) (13,873) (16,871) (28,600)
Equity in earnings of unconsolidated entities 675 2,596 1,247 3,890
Marketable securities realized gain 16,339 73 30,869 628
Income from continuing operations before income taxes 34,126 18,531 36,651 34,822
Income tax (expense) benefit (231) 63 (513) (193)
Net income from continuing operations 33,895 18,594 36,138 34,629
Net income (loss) from discontinued operations 25 145,106 (122) 154,478
Net income $ 33,920 $ 163,700 $ 36,016 $ 189,107
Weighted average number of common shares outstanding, basic and diluted (shares) 773,381,165 862,205,672 773,348,893 862,205,672
Net income per common share, from continuing operations, basic and diluted (in dollars per share) $ 0.04 $ 0.02 $ 0.05 $ 0.04
Net income per common share, from discontinued operations, basic and diluted (in dollars per share) 0.00 0.17 0.00 0.18
Net income per common share, basic and diluted (in dollars per share) 0.04 0.19 0.05 0.22
Distributions declared per common share outstanding (in dollars per share) 0.02 0.03 0.03 0.06
Distributions paid per common share outstanding (in dollars per share) $ 0.02 $ 0.01 $ 0.03 $ 0.06
Comprehensive income (loss)        
Unrealized gain (loss) on investment securities $ 2,907 $ 11,274 $ (17,664) $ 16,486
Unrealized (loss) gain on derivatives (182) 1,705 315 (2,616)
Reclassification for amounts recognized in net income (16,339) 427 (30,869) 425
Comprehensive income (loss) $ 20,306 $ 177,106 $ (12,202) $ 203,402