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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income        
Lease income, net $ 64,268 $ 58,935 $ 129,098 $ 116,703
Total income 64,687 59,893 129,892 118,679
Operating expenses        
Depreciation and amortization 28,263 24,205 55,021 47,034
Property operating 9,756 9,184 19,986 17,469
Real estate taxes 8,952 8,615 18,580 16,658
General and administrative 8,048 8,116 15,779 16,003
Total operating expenses 55,019 50,120 109,366 97,164
Other (expense) income        
Interest expense, net (9,377) (5,631) (18,886) (10,440)
Loss on extinguishment of debt 0 0 0 (96)
Gain on sale of investment properties 984 36,856 984 36,856
Equity in earnings (losses) of unconsolidated entities 149 716 (514) 3,432
Other income and expense, net 644 207 1,091 155
Total other (expense) income, net (7,600) 32,148 (17,325) 29,907
Net income $ 2,068 $ 41,921 $ 3,201 $ 51,422
Weighted-average common shares outstanding - basic (in shares) 67,523,105 67,413,049 67,515,913 67,384,044
Weighted-average common shares outstanding - diluted (in shares) 67,711,848 67,550,846 67,683,226 67,577,524
Net income per common share - basic (in dollars per share) $ 0.03 $ 0.62 $ 0.05 $ 0.76
Net income per common share - diluted (in dollars per share) 0.03 0.62 0.05 0.76
Distributions declared per common share outstanding (in dollars per share) 0.22 0.21 0.43 0.41
Distributions paid per common share outstanding (in dollars per share) $ 0.22 $ 0.21 $ 0.42 $ 0.41
Comprehensive income        
Net income $ 2,068 $ 41,921 $ 3,201 $ 51,422
Unrealized gain on derivatives 10,835 5,514 7,518 20,920
Reclassification (to) from net income (3,984) 492 (6,876) 1,517
Comprehensive income 8,919 47,927 3,843 73,859
Other property income        
Income        
Income 419 318 714 582
Other fee income        
Income        
Income $ 0 $ 640 $ 80 $ 1,394