XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income        
Lease income, net $ 58,935 $ 50,978 $ 116,703 $ 100,904
Total income 59,893 52,140 118,679 103,261
Operating expenses        
Depreciation and amortization 24,205 21,995 47,034 43,682
Property operating 9,184 7,774 17,469 15,783
Real estate taxes 8,615 8,158 16,658 16,291
General and administrative 8,116 9,910 16,003 20,261
Total operating expenses 50,120 47,837 97,164 96,017
Other income (expense)        
Interest expense, net (5,631) (3,972) (10,440) (7,957)
Loss on extinguishment of debt 0 0 (96) 0
Gain on sale of investment properties, net 36,856 361 36,856 880
Equity in earnings of unconsolidated entities 716 775 3,432 1,395
Other income and expense, net 207 32 155 (163)
Total other income (expense), net 32,148 (2,804) 29,907 (5,845)
Net income $ 41,921 $ 1,499 $ 51,422 $ 1,399
Weighted-average common shares outstanding, basic (in shares) 67,413,049 71,943,542 67,384,044 71,970,945
Weighted-average common shares outstanding, diluted (in shares) 67,550,846 72,036,346 67,577,524 72,024,473
Net income per common share, basic (in dollars per share) $ 0.62 $ 0.02 $ 0.76 $ 0.02
Net income per common share, diluted (in dollars per share) 0.62 0.02 0.76 0.02
Distributions declared per common share outstanding (in dollars per share) 0.21 0.19 0.41 0.39
Distributions paid per common share outstanding (in dollars per share) $ 0.21 $ 0.20 $ 0.41 $ 0.38
Comprehensive income        
Net income $ 41,921 $ 1,499 $ 51,422 $ 1,399
Unrealized gain (loss) on derivatives 5,514 (138) 20,920 1,755
Reclassification to net income 492 1,078 1,517 2,126
Comprehensive income 47,927 2,439 73,859 5,280
Other property income        
Income        
Income 318 268 582 450
Other fee income        
Income        
Income $ 640 $ 894 $ 1,394 $ 1,907