XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental $ 61,925,000 $ 60,386,000 $ 179,738,000 $ 178,200,000
Related party revenue:        
Management fees and interest income from loans 1,338,000 1,470,000 4,108,000 4,355,000
Other 17,000 21,000 54,000 62,000
Total revenues 63,280,000 61,877,000 183,900,000 182,617,000
Expenses:        
Real estate operating expenses 16,905,000 15,951,000 47,126,000 45,951,000
Real estate taxes and insurance 10,218,000 9,941,000 29,522,000 29,458,000
Depreciation and amortization 23,298,000 22,911,000 68,095,000 68,790,000
Selling, general and administrative 3,419,000 3,071,000 10,443,000 10,163,000
Interest 6,767,000 6,425,000 19,617,000 18,977,000
Total expenses 60,607,000 58,299,000 174,803,000 173,339,000
Income before interest income, equity in losses of non-consolidated REITs, other, gain (loss) on sale of properties and property held for sale, less applicable income tax and taxes 2,673,000 3,578,000 9,097,000 9,278,000
Interest income       1,000
Equity in losses of non-consolidated REITs (196,000) (284,000) (568,000) (644,000)
Other 621,000   (388,000)  
Gain (loss) on sale of properties and property held for sale, less applicable income tax (523,000) 1,000 (1,166,000) 11,411,000
Income before taxes on income 2,575,000 3,295,000 6,975,000 20,046,000
Taxes on income 117,000 129,000 326,000.000 444,000.000
Net income $ 2,458,000 $ 3,166,000 $ 6,649,000 $ 19,602,000
Weighted average number of shares outstanding, basic and diluted (in shares) 103,709 100,187 101,370 100,187
Net income per share, basic and diluted (in dollars per share) $ 0.02 $ 0.03 $ 0.07 $ 0.20