XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Income (Loss) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenue:        
Rental $ 60,994 $ 46,017 $ 122,591 $ 88,859
Related party revenue:        
Management fees and interest income from loans 1,671 1,643 3,314 3,265
Other 76 12 99 43
Total revenue 62,741 47,672 126,004 92,167
Expenses:        
Real estate operating expenses 14,995 11,116 30,066 21,886
Real estate taxes and insurance 9,763 7,308 19,014 13,903
Depreciation and amortization 23,563 16,921 47,863 32,702
Selling, general and administrative 3,148 3,204 6,420 5,736
Interest 6,891 4,174 14,067 8,382
Total expenses 58,360 42,723 117,430 82,609
Income before interest income, equity in losses of non-consolidated REITs and taxes 4,381 4,949 8,574 9,558
Interest income 1 4 2 5
Equity in losses of non-consolidated REITs (552) (195) (1,036) (383)
Income before taxes on income 3,830 4,758 7,540 9,180
Taxes on income 117 115 254 234
Income from continuing operations 3,713 4,643 7,286 8,946
Discontinued operations:        
Income from discontinued operations, net of income tax   98   196
Total discontinued operations   98   196
Net income $ 3,713 $ 4,741 $ 7,286 $ 9,142
Weighted average number of shares outstanding, basic and diluted (in shares) 100,187 91,847 100,187 87,417
Earnings per share, basic and diluted, attributable to:        
Continuing operations (in dollars per share) $ 0.04 $ 0.05 $ 0.07 $ 0.10
Discontinued operations (in dollars per share)   $ 0.00   $ 0.00
Net income per share, basic and diluted (in dollars per share) $ 0.04 $ 0.05 $ 0.07 $ 0.10