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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Rental income $ 70,179 $ 64,478 $ 209,362 $ 192,150
Expenses:        
Real estate taxes 8,862 7,591 24,980 22,810
Utility expenses 5,408 5,483 14,186 13,330
Other operating expenses 14,867 13,854 44,046 40,031
Depreciation and amortization 20,781 18,404 61,949 54,713
Loss on impairment of real estate 230 0 230 0
Acquisition related costs 0 147 0 363
General and administrative 3,266 3,816 12,314 11,350
Total expenses 53,414 49,295 157,705 142,597
Operating income 16,765 15,183 51,657 49,553
Dividend income 304 304 911 667
Interest income 1,715 47 1,843 63
Interest expense (including net amortization of debt premiums and discounts and debt issuance costs of $990, $805, $2,605 and $2,024, respectively) (16,055) (12,608) (43,599) (32,286)
(Loss) gain on early extinguishment of debt (1,715) 0 (1,715) 104
Gain on issuance of shares by Select Income REIT 51 72 72 88
Income (loss) from continuing operations before income taxes and equity in earnings of investees 1,065 2,998 9,169 18,189
Income tax expense (22) (13) (65) (63)
Equity in earnings of investees 9,484 8,668 20,804 28,002
Income from continuing operations 10,527 11,653 29,908 46,128
Income (loss) from discontinued operations 462 (154) 173 (429)
Income before gain on sale of property 10,989 11,499 30,081 45,699
Gain on sale of property 0 79 0 79
Net income 10,989 11,578 30,081 45,778
Other comprehensive income:        
Unrealized gain on investment in available for sale securities 3,279 8,463 14,389 28,571
Equity in unrealized gain of investees 1,351 3,273 5,634 10,423
Other comprehensive income 4,630 11,736 20,023 38,994
Comprehensive income $ 15,619 $ 23,314 $ 50,104 $ 84,772
Weighted average common shares outstanding (basic) (in shares) 96,883 71,054 79,778 71,041
Weighted average common shares outstanding (diluted) (in shares) 96,958 71,084 79,852 71,064
Per common share amounts (basic and diluted):        
Income from continuing operations (in dollars per share) $ 0.11 $ 0.16 $ 0.37 $ 0.65
Income (loss) from discontinued operations (in dollars per share) 0.00 0.00 0.00 (0.01)
Net income (in dollars per share) $ 0.11 $ 0.16 $ 0.38 $ 0.64