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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Rental income $ 69,887 $ 64,061 $ 139,183 $ 127,672
Expenses:        
Real estate taxes 7,941 7,566 16,118 15,219
Utility expenses 4,172 3,673 8,778 7,847
Other operating expenses 15,187 13,266 29,179 26,177
Depreciation and amortization 20,663 17,985 41,168 36,309
Acquisition related costs 0 64 0 216
General and administrative 5,086 4,008 9,048 7,534
Total expenses 53,049 46,562 104,291 93,302
Operating income 16,838 17,499 34,892 34,370
Dividend income 303 363 607 363
Interest income 67 10 128 16
Interest expense (including net amortization of debt premiums and discounts and debt issuance costs of $808, $747, $1,615 and $1,219, respectively) (13,963) (10,314) (27,544) (19,678)
Gain on early extinguishment of debt 0 0 0 104
Gain on issuance of shares by Select Income REIT 21 16 21 16
Income from continuing operations before income taxes and equity in earnings of investees 3,266 7,574 8,104 15,191
Income tax expense (25) (35) (43) (50)
Equity in earnings of investees 8,581 9,400 11,320 19,334
Income from continuing operations 11,822 16,939 19,381 34,475
Loss from discontinued operations (145) (126) (289) (275)
Net income 11,677 16,813 19,092 34,200
Other comprehensive income:        
Unrealized gain (loss) on investment in available for sale securities (1,032) 7,237 11,110 20,108
Equity in unrealized gain (loss) of investees (332) 2,606 4,283 7,150
Other comprehensive income (loss) (1,364) 9,843 15,393 27,258
Comprehensive income $ 10,313 $ 26,656 $ 34,485 $ 61,458
Weighted average common shares outstanding (basic) (in shares) 71,088 71,038 71,083 71,034
Weighted average common shares outstanding (diluted) (in shares) 71,119 71,061 71,109 71,046
Per common share amounts (basic and diluted):        
Income from continuing operations (in dollars per share) $ 0.17 $ 0.24 $ 0.27 $ 0.49
Loss from discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Net income (in dollars per share) $ 0.16 $ 0.24 $ 0.27 $ 0.48