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Consolidated Statements of Income - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenue     $ 59,000 $ 152,000
Total revenues $ 62,247,000 $ 68,539,000 186,038,000 200,068,000
Expenses:        
Real estate operating expenses 16,730,000 18,041,000 49,498,000 52,883,000
Real estate taxes and insurance 12,279,000 12,505,000 36,348,000 37,408,000
Depreciation and amortization 22,076,000 22,559,000 66,659,000 67,913,000
General and administrative 3,817,000 3,886,000 11,159,000 11,097,000
Interest 8,953,000 9,036,000 26,996,000 27,775,000
Total expenses 63,855,000 66,027,000 190,660,000 197,076,000
Income (loss) before taxes (1,608,000) 2,512,000 (4,622,000) 2,992,000
Tax expense on income 71,000 113,000 203,000 165,000
Net income (loss) $ (1,679,000) $ 2,399,000 $ (4,825,000) $ 2,827,000
Weighted average number of shares outstanding, basic and diluted 107,328 107,231 107,295 107,231
Net income (loss) per share, basic and diluted $ (0.02) $ 0.02 $ (0.04) $ 0.03
Rental        
Revenues:        
Rental $ 61,834,000 $ 68,108,000 $ 184,799,000 $ 196,952,000
Related party revenue: Management fees and interest income from loans        
Revenues:        
Revenue 400,000 426,000 1,208,000 3,100,000
Related party revenue: Other        
Revenues:        
Revenue $ 13,000 $ 5,000 $ 31,000 $ 16,000