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Quarterly Results (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Summary of the unaudited quarterly financial information
Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2017 and 2016:
 
 
 
2017
 
 
 
Year ended
 
Quarter ended
 
Quarter ended
 
Quarter ended
 
Quarter ended
 
 
 
December 31,
 
December 31,
 
September 30,
 
June 30,
 
March 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
37,544
 
$
5,992
 
$
8,775
 
$
11,360
 
$
11,417
 
Net income (loss)
 
 
29,043
 
 
10,774
(2)
 
20,537
(1)
 
(1,517)
 
 
(751)
 
Add: net (income)/loss attributable to noncontrolling interest
 
 
(4,485)
 
 
72
 
 
(4,430)
 
 
(22)
 
 
(105)
 
Net income/(loss) applicable to Company's common shares
 
$
24,558
 
$
10,846
 
$
16,107
 
$
(1,539)
 
$
(856)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss) per common share, basic and diluted
 
$
0.98
 
$
0.29
 
$
0.65
 
$
(0.06)
 
$
(0.03)
 
 
 
 
2016
 
 
 
Year ended
 
Quarter ended
 
Quarter ended
 
Quarter ended
 
Quarter ended
 
 
 
December 31,
 
December 31,
 
September 30,
 
June 30,
 
March 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
46,131
 
$
10,595
 
$
11,393
 
$
11,693
 
$
12,450
 
Net income (loss)(3)
 
 
4,908
 
 
(2,223)
 
 
9,324
 
 
(1,226)
 
 
(967)
 
Add: net (income)/loss attributable to noncontrolling interest
 
 
35
 
 
21
 
 
59
 
 
61
 
 
(106)
 
Net income/(loss) applicable to Company's common shares
 
$
4,943
 
$
(2,202)
 
$
9,383
 
$
(1,165)
 
$
(1,073)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income/(loss) per common share, basic and diluted
 
$
0.19
 
$
(0.09)
 
$
0.37
 
$
(0.05)
 
$
(0.04)
 
 
(1)
Income from continuing operations for the quarter ended September 30, 2017 includes (i) a gain on the sale of real estate of approximately $20.9 million in connection with the sale of the Courtyard Kauai Coconut Beach Hotel and (ii) an aggregate income tax benefit of approximately $1.6 million related to two foreign investments, AJS and Holstenplatz, which were sold in 2015. See Notes 2 and 6 of the Notes to Consolidated Financial Statements for additional information.
(2)
Income from continuing operations for the quarter ended December 31, 2017 includes a non-cash impairment charge of $4.1million on our investment in 22 Exchange offset by income from our investment in unconsolidated affiliated joint venture of $17.9 million. See Note 2 and 7 of the Notes to Consolidated Financial Statements for additional information.
(3)
Income from continuing operations for the quarter ended September 30, 2016 includes gain on the sale of Lakewood Flats of $11.5 million. See Note 6 of the Notes to Consolidated Financial Statements for additional information.