XML 19 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenue:      
Rental $ 237,856 $ 243,341 $ 206,926
Related party revenue:      
Management fees and interest income from loans 5,930 6,241 6,646
Other 81 101 64
Total revenues 243,867 249,683 213,636
Expenses:      
Real estate operating expenses 61,890 62,032 51,100
Real estate taxes and insurance 38,660 36,857 31,616
Depreciation and amortization 91,359 95,915 78,839
Selling, general and administrative 13,291 12,983 11,911
Interest 25,432 27,433 21,054
Total expenses 230,632 235,220 194,520
Income before interest income, equity in losses of non-consolidated REITs and taxes 13,235 14,463 19,116
Interest income 1 3 16
Equity in losses of non-consolidated REITs (1,451) (1,760) (1,358)
Gain on sale of properties, less applicable income tax 23,662 940  
Income before taxes on income 35,447 13,646 17,774
Taxes on income 433 498 480
Income from continuing operations 35,014 13,148 17,294
Discontinued operations:      
Income from discontinued operations, net of income tax     375
Gain on sale, less applicable income tax     2,158
Total discontinued operations     2,533
Net income $ 35,014 $ 13,148 $ 19,827
Weighted average number of shares outstanding, basic and diluted (in shares) 100,187,000 100,187,000 93,855,000
Earnings per share, basic and diluted:      
Continuing operations (in dollars per share) $ 0.35 $ 0.13 $ 0.18
Discontinued operations (in dollars per share)     0.03
Net income per share, basic and diluted (in dollars per share) $ 0.35 $ 0.13 $ 0.21