|
REVENUES
|
|
|
|
|
|
|
|
|
|
|
|
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Rental income
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|
$19.0m
|
$31.1m
|
$40.1m
|
$58.3m
|
$73.9m
|
$87.7m
|
$94.1m
|
$108.7m
|
$114.6m
|
$121.4m
|
|
Other operating interest
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|
$0
|
$179k
|
$2.1m
|
$2.6m
|
$1.8m
|
$2.9m
|
$3.6m
|
$4.2m
|
$1.2m
|
($156k)
|
|
Property operating
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|
$4.7m
|
$8.7m
|
$9.9m
|
$12.2m
|
$13.6m
|
$15.2m
|
$16.6m
|
$20.7m
|
$22.8m
|
$23.6m
|
|
General and administrative
|
|
$3.2m
|
$3.5m
|
$5.7m
|
$7.7m
|
$8.8m
|
$12.1m
|
$14.8m
|
$27.3m
|
$19.1m
|
$25.1m
|
|
Depreciation and amortization
|
|
$13.2m
|
$17.7m
|
$19.5m
|
$22.2m
|
$25.4m
|
$30.4m
|
$32.3m
|
$39.7m
|
$42.8m
|
$43.5m
|
|
Gains on the sales of depreciable real estate assets, net of losses and impairments
|
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
($102k)
|
($121k)
|
$11.8m
|
|
Credit loss reserve
|
|
—
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
($11.0m)
|
($8.7m)
|
|
Interest and other income, net
|
|
$30k
|
$71k
|
$420k
|
$437k
|
$166k
|
$57k
|
$66k
|
$813k
|
$530k
|
$34k
|
|
Total
|
|
$30k
|
$71k
|
$420k
|
—
|
—
|
($10.4m)
|
($11.8m)
|
($17.4m)
|
($34.3m)
|
($23.8m)
|
|
NET INCOME (LOSS)
|
|
$2.7m
|
$3.5m
|
$4.4m
|
$8.4m
|
$19.1m
|
$22.5m
|
$22.0m
|
$7.7m
|
($3.2m)
|
$5.1m
|
|
Net (loss) income per common share - Basic (in dollars per share)
|
|
$0.24
|
$0.19
|
$0.19
|
$0.37
|
$0.80
|
$0.87
|
$0.81
|
$0.20
|
($0.23)
|
$0.08
|
|
Net (loss) income per common share - Diluted (in dollars per share)
|
|
$0.24
|
$0.19
|
$0.19
|
$0.37
|
$0.80
|
$0.87
|
$0.81
|
$0.20
|
($0.23)
|
$0.08
|
|
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC (in shares)
|
|
11.2m
|
14.8m
|
17.7m
|
18.7m
|
21.6m
|
23.3m
|
23.6m
|
25.2m
|
26.5m
|
26.9m
|
|
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED (in shares)
|
|
11.3m
|
14.8m
|
17.7m
|
18.7m
|
21.6m
|
23.3m
|
23.6m
|
25.2m
|
26.5m
|
26.9m
|
|
OTHER (EXPENSE) INCOME
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
($1.2m)
|
($3.9m)
|
($6.3m)
|
($9.3m)
|
($8.6m)
|
($10.5m)
|
($11.9m)
|
($17.8m)
|
($23.7m)
|
($27.0m)
|
|
Deferred income tax expense
|
|
—
|
$478k
|
$1.5m
|
($1.4m)
|
($80k)
|
($167k)
|
($41k)
|
($306k)
|
$0
|
($23k)
|
|
Total expenses
|
|
$21.3m
|
$30.0m
|
$35.2m
|
$42.2m
|
$47.8m
|
$57.7m
|
$63.8m
|
$87.7m
|
$84.7m
|
$92.3m
|