XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income        
Lease income, net $ 68,132 $ 63,716 $ 201,681 $ 192,814
Total income 68,521 64,062 202,742 193,954
Operating expenses        
Depreciation and amortization 28,134 30,318 85,092 85,339
Property operating 10,795 11,070 31,037 31,056
Real estate taxes 9,205 8,781 27,232 27,361
General and administrative 8,133 7,610 24,768 23,389
Total operating expenses 56,267 57,779 168,129 167,145
Other (expense) income        
Interest expense, net (9,470) (9,555) (28,744) (28,441)
Impairment of real estate assets (3,854) 0 (3,854) 0
Gain on sale of investment properties 334 1,707 334 2,691
Equity in earnings (losses) of unconsolidated entities 0 67 0 (447)
Other income and expense, net 197 676 1,510 1,767
Total other (expense) income, net (12,793) (7,105) (30,754) (24,430)
Net (loss) income $ (539) $ (822) $ 3,859 $ 2,379
Weighted-average common shares outstanding - basic (in shares) 68,526,238 67,531,335 68,101,901 67,521,110
Weighted-average common shares outstanding - diluted (in shares) 68,526,238 67,531,335 68,659,319 67,720,485
Net (loss) income per common share - basic (in dollars per share) $ (0.01) $ (0.01) $ 0.06 $ 0.04
Net (loss) income per common share - diluted (in dollars per share) (0.01) (0.01) 0.06 0.04
Distributions declared per common share (in dollars per share) 0.23 0.22 0.68 0.65
Distributions paid per common share (in dollars per share) $ 0.23 $ 0.22 $ 0.67 $ 0.64
Comprehensive (loss) income        
Net (loss) income $ (539) $ (822) $ 3,859 $ 2,379
Unrealized (loss) gain on derivatives, net (7,145) 5,978 2,560 13,496
Reclassification to net (loss) income (3,315) (4,213) (9,946) (11,089)
Comprehensive (loss) income (10,999) 943 (3,527) 4,786
Other property income        
Income        
Income 389 346 1,061 1,060
Other fee income        
Income        
Income $ 0 $ 0 $ 0 $ 80