|
Total Revenue
|
|
$313.3m
|
$325.1m
|
$336.9m
|
$309.2m
|
$294.1m
|
$169.2m
|
$209.4m
|
$227.9m
|
$241.9m
|
$206.4m
|
|
Cost of Revenue
|
|
$122.2m
|
$235.9m
|
$116.2m
|
$115.6m
|
$112.9m
|
$60.8m
|
$74.0m
|
$79.8m
|
$88.7m
|
$76.6m
|
|
Gross Profit (derived)
|
|
$191.0m
|
$89.1m
|
$220.7m
|
$193.6m
|
$181.2m
|
$108.4m
|
$135.4m
|
$148.1m
|
$153.2m
|
$129.8m
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income (Loss)
|
|
$171.5m
|
$66.6m
|
$78.0m
|
$82.9m
|
$22.2m
|
($4.6m)
|
($1.7m)
|
($23.1m)
|
$23.5m
|
($122.2m)
|
|
Additional Financial Items
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains (Losses) on Sales of Investment Real Estate
|
|
$101.7m
|
$23.8m
|
—
|
—
|
—
|
$0
|
$0
|
—
|
—
|
—
|
|
Income (Loss) from Continuing Operations, Per Basic Share
|
|
$2
|
$0
|
$0
|
$0
|
($0)
|
($1)
|
($0)
|
($1)
|
($0)
|
—
|
|
Income (Loss) from Continuing Operations, Per Diluted Share
|
|
$2
|
$0
|
$0
|
$0
|
($0)
|
($1)
|
($0)
|
($1)
|
($0)
|
—
|
|
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic
|
|
$310k
|
$362k
|
$526k
|
—
|
—
|
—
|
—
|
—
|
—
|
$260k
|
|
Real estate rental revenue
|
|
$313.3m
|
$325.1m
|
$336.9m
|
$309.2m
|
$294.1m
|
$169.2m
|
$209.4m
|
$227.9m
|
$241.9m
|
$206.4m
|
|
Property operating and maintenance
|
|
—
|
—
|
—
|
$40.4m
|
$39.6m
|
$38.7m
|
$47.5m
|
$51.0m
|
$56.3m
|
$50.0m
|
|
Real estate taxes and insurance
|
|
—
|
—
|
—
|
$22.9m
|
$23.4m
|
$22.0m
|
$26.5m
|
$28.8m
|
$32.4m
|
$26.6m
|
|
Property management
|
|
—
|
—
|
—
|
$6.1m
|
$6.1m
|
$6.1m
|
$7.4m
|
$8.1m
|
$8.9m
|
$7.5m
|
|
General and administrative
|
|
$19.5m
|
$22.6m
|
$22.1m
|
$24.4m
|
$24.0m
|
$27.5m
|
$28.3m
|
$25.9m
|
$25.0m
|
$54.6m
|
|
Depreciation and amortization
|
|
$108.4m
|
$112.1m
|
$121.2m
|
$136.3m
|
$120.0m
|
$72.7m
|
$91.7m
|
$89.0m
|
$95.9m
|
$78.2m
|
|
Real estate impairment
|
|
—
|
$33.2m
|
$1.9m
|
$8.4m
|
$0
|
$0
|
$0
|
$41.9m
|
$0
|
$111.7m
|
|
Real estate operating (loss) income
|
|
$171.5m
|
$66.6m
|
$78.0m
|
$82.9m
|
$22.2m
|
($4.6m)
|
($1.7m)
|
($23.1m)
|
$23.5m
|
($122.2m)
|
|
Loss on extinguishment of debt, net
|
|
$0
|
$0
|
($1.2m)
|
$0
|
($34k)
|
($12.7m)
|
($4.9m)
|
($54k)
|
($147k)
|
$0
|
|
Net loss
|
|
$119.3m
|
$19.6m
|
$25.6m
|
$383.6m
|
—
|
—
|
($30.9m)
|
($53.0m)
|
($13.1m)
|
($154.2m)
|
|
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax
|
|
$0
|
—
|
—
|
$16.2m
|
$0
|
$23.1m
|
$0
|
$0
|
—
|
—
|
|
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
|
|
$119.3m
|
—
|
—
|
$29.1m
|
($15.7m)
|
($53.1m)
|
($30.9m)
|
($53.0m)
|
($13.1m)
|
($154.2m)
|
|
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
|
|
$0
|
—
|
—
|
$354.4m
|
$0
|
$69.5m
|
$0
|
$0
|
—
|
—
|
|
Net Income (Loss) Attributable to Parent
|
|
$119.3m
|
$19.7m
|
$25.6m
|
$383.6m
|
($15.7m)
|
$16.4m
|
($30.9m)
|
($53.0m)
|
($13.1m)
|
($154.2m)
|
|
Net Income (Loss) Available to Common Stockholders, Basic
|
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
($13.4m)
|
($154.4m)
|
|
Net Income (Loss) Attributable to Noncontrolling Interest
|
|
($51k)
|
($56k)
|
$0
|
$0
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Earnings Per Share, Basic
|
|
$1.65
|
$0.25
|
$0.32
|
$4.75
|
($0.20)
|
$0.19
|
($0.36)
|
($0.61)
|
($0.15)
|
($1.75)
|
|
Earnings Per Share, Diluted
|
|
$1.65
|
$0.25
|
$0.32
|
$4.75
|
($0.20)
|
$0.19
|
($0.36)
|
($0.61)
|
($0.15)
|
($1.75)
|
|
Common Stock, Dividends, Per Share, Declared
|
|
$1.20
|
$1.20
|
$1.20
|
$1.20
|
$1.20
|
$0.94
|
$0.68
|
$0.72
|
$0.72
|
$0.54
|
|
Weighted Average Number of Shares Outstanding, Basic
|
|
72.2m
|
76.8m
|
79.0m
|
80.3m
|
82.3m
|
84.5m
|
87.4m
|
87.7m
|
87.9m
|
88.1m
|
|
Weighted average shares outstanding – basic (in shares)
|
|
72.2m
|
76.8m
|
79.0m
|
80.3m
|
82.3m
|
84.5m
|
87.4m
|
87.7m
|
87.9m
|
88.1m
|
|
Weighted average shares outstanding – diluted (in shares)
|
|
72.3m
|
76.9m
|
79.0m
|
80.3m
|
82.3m
|
84.5m
|
87.4m
|
87.7m
|
87.9m
|
88.1m
|
|
Weighted Average Number of Shares Outstanding, Diluted
|
|
72.3m
|
76.9m
|
79.0m
|
80.3m
|
82.3m
|
84.5m
|
87.4m
|
87.7m
|
87.9m
|
88.1m
|
|
General and Administrative Expense
|
|
$19.5m
|
$22.6m
|
$22.1m
|
$24.4m
|
$24.0m
|
$27.5m
|
$28.3m
|
$25.9m
|
$25.0m
|
$54.6m
|
|
Other Nonoperating Income (Expense)
|
|
$297k
|
$507k
|
$0
|
$0
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Business Combination, Acquisition Related Costs
|
|
$1.2m
|
$0
|
$0
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|
Transformation costs
|
|
—
|
—
|
—
|
$0
|
$0
|
$6.6m
|
$9.7m
|
$6.3m
|
$0
|
$0
|
|
Interest Expense (non-operating)
|
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
$37.8m
|
$32.0m
|
|
Interest Expense
|
|
$53.1m
|
$47.5m
|
$51.1m
|
$53.7m
|
$37.3m
|
$34.1m
|
$24.9m
|
$30.4m
|
($37.8m)
|
($32.0m)
|
|
Interest Expense, Debt
|
|
—
|
—
|
—
|
—
|
$3.0m
|
$390k
|
$912k
|
$4.4m
|
$10.5m
|
$8.4m
|
|
Total expenses
|
|
$243.5m
|
$283.4m
|
$261.4m
|
$286.3m
|
$256.9m
|
$173.7m
|
$211.1m
|
$251.0m
|
$218.5m
|
$328.6m
|
|
Total other income (expense)
|
|
($52.2m)
|
($46.9m)
|
($52.3m)
|
($53.7m)
|
($37.9m)
|
($48.5m)
|
($29.1m)
|
($29.9m)
|
($36.6m)
|
($32.0m)
|
|
Income Tax Expense (Benefit)
|
|
($615k)
|
($84k)
|
$0
|
$0
|
—
|
—
|
—
|
—
|
—
|
—
|