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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income        
Lease income, net $ 53,965 $ 51,489 $ 154,869 $ 143,491
Total income 55,138 52,545 158,399 146,622
Operating expenses        
Depreciation and amortization 21,318 22,170 65,000 66,697
Property operating 8,143 6,677 23,926 19,969
Real estate taxes 8,490 8,940 24,781 24,647
General and administrative 8,782 10,106 29,043 25,688
Direct listing costs 1,704 0 1,704 0
Total operating expenses 48,437 47,893 144,454 137,001
Other (expense) income        
Interest expense, net (3,999) (4,594) (11,956) (14,327)
Loss on extinguishment of debt (400) 0 (400) (2,543)
Provision for asset impairment 0 0 0 (9,002)
Gain on sale of investment properties, net 636 424 1,516 668
Equity in earnings of unconsolidated entities 1,046 951 2,441 1,591
Other income and expense, net 8 244 (155) 2,572
Total other expense income, net (2,709) (2,975) (8,554) (21,041)
Net income (loss) $ 3,992 $ 1,677 $ 5,391 $ (11,420)
Weighted-average common shares outstanding, basic (in shares) 71,261,403 71,945,847 71,731,832 72,072,252
Weighted-average common shares outstanding, diluted (in shares) 71,395,625 72,009,209 71,802,082 72,072,252
Net income (loss) per common share, basic (in dollars per share) $ 0.06 $ 0.02 $ 0.08 $ (0.16)
Net income (loss) per common share, diluted (in dollars per share) 0.06 0.02 0.08 (0.16)
Distributions declared per common share outstanding (in dollars per share) 0.20 0.19 0.58 0.57
Distributions paid per common share outstanding (in dollars per share) $ 0.20 $ 0.19 $ 0.58 $ 0.56
Comprehensive income (loss)        
Net income (loss) $ 3,992 $ 1,677 $ 5,391 $ (11,420)
Unrealized (loss) gain on derivatives (195) (25) 1,560 (16,498)
Reclassification to net income (loss) 1,102 1,043 3,228 1,643
Comprehensive income (loss) 4,899 2,695 10,179 (26,275)
Other property income        
Income        
Income 310 177 760 576
Other fee income        
Income        
Income $ 863 $ 879 $ 2,770 $ 2,555