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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Rental revenue $ 33,875 $ 31,283 $ 97,507 $ 90,710
Other income 161 198 595 576
Total revenues 34,036 31,481 98,102 91,286
Expenses:        
Real estate operating expenses - including $960 and $896 to related parties for the three months ended and $2,877 and $2,583 for the nine months ended 16,281 15,661 47,195 44,318
Interest expense 9,845 8,965 28,353 26,408
General and administrative - including $105 and $109 to related parties for the three months ended and $403 and $416 for the nine months ended 2,430 2,002 7,455 6,907
Depreciation 9,950 10,416 29,914 29,856
Total expenses 38,506 37,044 112,917 107,489
Total revenues less total expenses (4,470) (5,563) (14,815) (16,203)
Equity in loss of unconsolidated joint ventures (259) (174) (643) (364)
Gain on sale of real estate 9,938 424 9,938 52,405
Gain on insurance recoveries 0 1,272 517 4,499
Loss on extinguishment of debt (1,766) 0 (1,766) (593)
Income (loss) from continuing operations 3,443 (4,041) (6,769) 39,744
Income tax provision (benefit) 98 97 219 (55)
Net income (loss) from continuing operations, net of taxes 3,345 (4,138) (6,988) 39,799
Net (income) loss attributable to non-controlling interests (73) 1,027 1,696 (22,377)
Net income (loss) attributable to common stockholders $ 3,272 $ (3,111) $ (5,292) $ 17,422
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 15,913,975 15,635,953 15,900,362 14,768,429
Diluted (in shares) 16,113,975 15,635,953 15,900,362 14,968,429
Per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ 0.21 $ (0.20) $ (0.33) $ 1.18
Diluted (in dollars per share) $ 0.20 $ (0.20) $ (0.33) $ 1.16