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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Business Segments |
Financial Information By Segment
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Three Months Ended June 30, 2024 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 46,765 |  |  | $ | 20,178 |  |  | $ | — |  |  | $ | 66,943 |
Expenses | (9,953) |  |  | (7,311) |  |  | — |  |  | (17,264) |
Income from real estate | 36,812 |  |  | 12,867 |  |  | — |  |  | 49,679 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (12,267) |  |  | (12,267) |
Depreciation and amortization of deferred leasing costs | (7,084) |  |  | (4,917) |  |  | — |  |  | (12,001) |
General and administrative | — |  |  | — |  |  | (6,102) |  |  | (6,102) |
Gain on disposition of property | 181 |  |  | — |  |  | — |  |  | 181 |
Net income (loss) | $ | 29,909 |  |  | $ | 7,950 |  |  | $ | (18,369) |  |  | $ | 19,490 |
Capital investment | $ | 4,648 |  |  | $ | 39,977 |  |  | $ | — |  |  | $ | 44,625 |
Total assets | $ | 900,335 |  |  | $ | 1,156,510 |  |  | $ | 14,752 |  |  | $ | 2,071,597 |
Three Months Ended June 30, 2023 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 43,974 |  |  | $ | 19,735 |  |  | $ | — |  |  | $ | 63,709 |
Expenses | (9,462) |  |  | (6,988) |  |  | — |  |  | (16,450) |
Income from real estate | 34,512 |  |  | 12,747 |  |  | — |  |  | 47,259 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (12,278) |  |  | (12,278) |
Depreciation and amortization of deferred leasing costs | (7,066) |  |  | (5,048) |  |  | — |  |  | (12,114) |
General and administrative | — |  |  | — |  |  | (5,678) |  |  | (5,678) |
Net income (loss) | $ | 27,446 |  |  | $ | 7,699 |  |  | $ | (17,956) |  |  | $ | 17,189 |
Capital investment | $ | 4,221 |  |  | $ | 51,989 |  |  | $ | — |  |  | $ | 56,210 |
Total assets | $ | 915,274 |  |  | $ | 972,258 |  |  | $ | 19,162 |  |  | $ | 1,906,694 |
Financial Information By Segment
(In thousands) | Shopping Centers |  | Mixed-Use Properties |  | Corporate and Other |  | Consolidated Totals
Six Months Ended June 30, 2024 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 93,698 |  |  | $ | 39,937 |  |  | $ | — |  |  | $ | 133,635 |
Expenses | (20,917) |  |  | (14,516) |  |  | — |  |  | (35,433) |
Income from real estate | 72,781 |  |  | 25,421 |  |  | — |  |  | 98,202 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (24,715) |  |  | (24,715) |
Depreciation and amortization of deferred leasing costs | (14,158) |  |  | (9,872) |  |  | — |  |  | (24,030) |
General and administrative | — |  |  | — |  |  | (11,885) |  |  | (11,885) |
Gain on disposition of property | 181 |  |  | — |  |  | — |  |  | 181 |
Net income (loss) | $ | 58,804 |  |  | $ | 15,549 |  |  | $ | (36,600) |  |  | $ | 37,753 |
Capital investment | $ | 8,789 |  |  | $ | 81,405 |  |  | $ | — |  |  | $ | 90,194 |
Total assets | $ | 900,335 |  |  | $ | 1,156,510 |  |  | $ | 14,752 |  |  | $ | 2,071,597 |
Six Months Ended June 30, 2023 |  |  |  |  |  |  |
Real estate rental operations: |  |  |  |  |  |  |
Revenue | $ | 88,199 |  |  | $ | 38,559 |  |  | $ | — |  |  | $ | 126,758 |
Expenses | (18,722) |  |  | (14,009) |  |  | — |  |  | (32,731) |
Income from real estate | 69,477 |  |  | 24,550 |  |  | — |  |  | 94,027 |
Interest expense, net and amortization of deferred debt costs | — |  |  | — |  |  | (24,099) |  |  | (24,099) |
Depreciation and amortization of deferred leasing costs | (14,193) |  |  | (9,937) |  |  | — |  |  | (24,130) |
General and administrative | — |  |  | — |  |  | (10,946) |  |  | (10,946) |
Net income (loss) | $ | 55,284 |  |  | $ | 14,613 |  |  | $ | (35,045) |  |  | $ | 34,852 |
Capital investment | $ | 5,888 |  |  | $ | 93,478 |  |  | $ | — |  |  | $ | 99,366 |
Total assets | $ | 915,274 |  |  | $ | 972,258 |  |  | $ | 19,162 |  |  | $ | 1,906,694 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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