XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
REVENUE $ 50,413 $ 44,138 $ 143,717 $ 132,454
EXPENSES        
Property operating expenses, excluding real estate taxes 14,434 13,129 40,901 38,957
Real estate taxes 5,916 5,402 17,450 16,277
Property management expense 2,203 1,442 6,055 4,341
Casualty (gain) loss (10) 91 64 1,331
Depreciation and amortization 22,447 18,995 61,747 55,311
General and administrative expenses 4,279 3,077 11,982 9,707
TOTAL EXPENSES 49,269 42,136 138,199 125,924
Operating income 1,144 2,002 5,518 6,530
Interest expense (7,302) (6,771) (21,622) (20,622)
Interest and other income (loss) (5,082) 277 (4,032) (1,979)
Income (loss) before gain (loss) on sale of real estate and other investments (11,240) (4,492) (20,136) (16,071)
Gain (loss) on sale of real estate and other investments 0 25,676 26,840 25,486
NET INCOME (LOSS) (11,240) 21,184 6,704 9,415
Dividends to Series D preferred unitholders (160) (160) (480) (480)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 1,930 (1,387) 1,013 (248)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (22) (8) (58) 132
Net income (loss) attributable to controlling interests (9,492) 19,629 7,179 8,819
Dividends to preferred shareholders (1,607) (1,607) (4,821) (4,921)
Discount (premium) on redemption of preferred shares 0 (1) 0 297
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (11,099) $ 18,021 $ 2,358 $ 4,195
NET EARNINGS (LOSS) PER COMMON SHARE - BASIC (in dollars per share) $ (0.79) $ 1.40 $ 0.17 $ 0.33
NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED (in dollars per share) $ (0.81) $ 1.38 $ 0.12 $ 0.33