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Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income      
Rental income $ 176,640 $ 188,235 $ 181,481
Total income 242,674 251,809 242,693
Expenses      
General and administrative expenses 35,267 42,661 49,107
Property operating expenses 34,822 35,656 35,364
Real estate taxes 35,205 35,566 35,703
Depreciation and amortization 100,593 95,345 83,685
Provision for asset impairment 3,510 27,754 11,208
Total expenses 209,397 236,982 215,067
Operating income 33,277 14,827 27,626
Interest and dividend income 2,044 4,249 11,849
Gain on sale and transfer of investment properties, net 95,097 24,066 117,848
Gain (loss) on extinguishment of debt, net 9,103 840 (10,498)
Other income (expense) 450 (308) 2,330
Interest expense, net (24,943) (30,155) (44,135)
Equity in (losses) earnings and (impairment), net, of unconsolidated entities (31,393) (804) 9,299
Realized and unrealized investment gains (losses) and (impairment), net 244 46,563 5,081
Income from continuing operations before income taxes 83,879 59,278 119,400
Income tax expense (30) (1,324) (201)
Net income from continuing operations 83,849 57,954 119,199
Net income from discontinued operations 0 3,839 133,523
Net income $ 83,849 $ 61,793 $ 252,722
Weighted average number of common shares outstanding, basic and diluted (in shares) 761,139,011 773,445,341 854,638,497
Net income, per common share, from continuing operations, basic and diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.14
Net income, per common share, from discontinued operations, basic and diluted (in dollars per share) 0.00 0.00 0.15
Net income per common share, basic and diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.29
Comprehensive income      
Net income $ 83,849 $ 61,793 $ 252,722
Unrealized (loss) gain on investment securities 0 (11,734) 24,540
Unrealized gain on derivatives 923    
Unrealized gain on derivatives   1,183 623
Reclassification for amounts recognized in net income (956) (46,563) (3,394)
Comprehensive income 83,816 4,679 274,491
Tenant recovery income      
Income      
Income 57,993 57,192 53,218
Other property income      
Income      
Income 3,651 2,160 3,646
Other fee income      
Income      
Income $ 4,390 $ 4,222 $ 4,348