XML 59 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income from rental operations    
Real estate rental income $ 29,906 $ 29,831
Expenses from rental operations    
Operating expenses, excluding real estate taxes 12,535 12,179
Real estate taxes 3,164 3,029
Depreciation and amortization 5,252 5,538
Interest 4,350 4,715
Total expenses from rental operations 25,301 25,461
Administration of REIT    
Administration of REIT 1,162 1,111
Total expenses 26,463 26,572
Income from operations 3,443 3,259
Other income    
Equity in income of unconsolidated affiliates 158 132
Other income 119 70
Gain on sale of real estate and non-real estate investments 1,455  
(Loss)/gain on involuntary conversion 52 329
Total other income 1,784 531
Net income 5,227 3,790
Net income attributable to noncontrolling interest in operating partnership 3,419 2,532
Net income (loss) attributable to noncontrolling interest in partially owned properties (5) (30)
Net income attributable to Sterling Real Estate Trust $ 1,813 $ 1,288
Net income per common share, basic and diluted $ 190.00 $ 140.00
Comprehensive income:    
Net income $ 5,227 $ 3,790
Other comprehensive (loss) gain - change in fair value of interest rate swaps (1,486) 4
Comprehensive income 3,741 3,794
Comprehensive income attributable to noncontrolling interest 2,442 2,505
Comprehensive income attributable to Sterling Real Estate Trust $ 1,299 $ 1,289
Weighted average Common Shares outstanding 9,562,000 9,091,000