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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income from rental operations        
Real estate rental income $ 30,821 $ 30,270 $ 60,727 $ 60,102
Expenses from rental operations        
Operating expenses, excluding real estate taxes 10,961 11,832 23,496 24,011
Real estate taxes 3,139 3,019 6,303 6,048
Depreciation and amortization 5,246 5,353 10,498 10,891
Interest 4,224 4,582 8,574 9,298
Total expenses from rental operations 23,570 24,786 48,871 50,248
Administration of REIT        
Administration of REIT 1,085 971 2,247 2,082
Total expenses 24,655 25,757 51,118 52,330
Income from operations 6,166 4,513 9,609 7,772
Other income        
Equity in income of unconsolidated affiliates 80 262 238 394
Other income 150 46 269 116
Gain on sale of real estate and non-real estate investments 1   1,456  
Gain on involuntary conversion     52 329
Total other income 231 308 2,015 839
Net income 6,397 4,821 11,624 8,611
Net income (loss) attributable to noncontrolling interest in operating partnership 4,177 3,191 7,596 5,723
Net income (loss) attributable to noncontrolling interest in partially owned properties 18 (17) 13 (47)
Net income attributable to Sterling Real Estate Trust $ 2,202 $ 1,647 $ 4,015 $ 2,935
Net income per common share, basic and diluted $ 0.23 $ 0.18 $ 0.42 $ 0.32
Comprehensive income:        
Net income $ 6,397 $ 4,821 $ 11,624 $ 8,611
Other comprehensive (loss) gain - change in fair value of interest rate swaps (622) 3 (2,108) 7
Comprehensive income 5,775 4,824 9,516 8,618
Comprehensive income attributable to noncontrolling interest 3,788 3,176 6,229 5,681
Comprehensive income attributable to Sterling Real Estate Trust $ 1,987 $ 1,648 $ 3,287 $ 2,937
Weighted average Common Shares outstanding 9,611,000 9,209,000 9,587,000 9,151,000