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Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income        
Lease income, net $ 55,509 $ 60,034 $ 110,544 $ 122,373
Total income 57,190 61,490 113,581 125,324
Operating expenses        
Depreciation and amortization 24,692 23,254 47,554 48,084
Property operating expenses 7,035 8,463 14,509 17,648
Real estate taxes 8,958 9,671 18,009 19,030
General and administrative expenses 8,886 8,720 17,409 16,989
Total operating expenses 49,571 50,108 97,481 101,751
Interest, dividend and other income 656 953 1,310 1,643
Interest expense, net (5,627) (6,451) (11,105) (13,093)
(Loss) gain on extinguishment of debt, net (809) (55) (809) 10,697
Provision for asset impairment 0 0 0 (797)
Gain on sale and transfer of investment properties, net 5,662 17,960 5,662 38,265
Equity in losses of unconsolidated entities (1,079) (711) (620) (2,752)
Realized and unrealized investment gains 0 236 0 223
Total other (expense) income (1,197) 11,932 (5,562) 34,186
Income before income taxes 6,422 23,314 10,538 57,759
Income tax expense (144) (151) (259) (364)
Net income from continuing operations 6,278 23,163 10,279 57,395
Net loss from discontinued operations (12,000) 0 (25,500) 0
Net (loss) income $ (5,722) $ 23,163 $ (15,221) $ 57,395
Weighted average number of common shares outstanding, basic (in shares) 728,654,374 774,391,881 728,606,945 774,351,790
Weighted average number of common shares outstanding, diluted (in shares) 729,287,663 774,930,240 728,623,337 774,351,790
Net income per common share, from continuing operations, basic and diluted (in dollars per share) $ 0.01 $ 0.03 $ 0.01 $ 0.07
Net loss per common share, from discontinued operations, basic and diluted (in dollars per share) (0.02) 0 (0.03) 0
Net income per common share, basic and diluted (in dollars per share) (0.01) 0.03 (0.02) 0.07
Distributions declared per common share outstanding (in dollars per share) 0.02 0.02 0.04 0.04
Distributions paid per common share outstanding (in dollars per share) $ 0.02 $ 0.02 $ 0.04 $ 0.04
Comprehensive (loss) income        
Net (loss) income $ (5,722) $ 23,163 $ (15,221) $ 57,395
Unrealized (loss) gain on derivatives (204) 316 (316) 1,076
Reclassification to interest expense, net (427) (216) (859) (309)
Comprehensive (loss) income (6,353) 23,263 (16,396) 58,162
Other property income        
Income        
Income 821 532 1,272 951
Other fee income        
Income        
Income $ 860 $ 924 $ 1,765 $ 2,000