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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental and other revenue from real estate properties $ 7,709 $ 7,020 $ 21,762 $ 20,422
Other income 5 293 12 631
Total revenues 7,714 7,313 21,774 21,053
Expenses:        
Real estate operating expenses - including $8 and $8 to related parties for the three months ended and $23 and $24 for the nine months ended 3,404 3,289 9,687 9,351
Interest expense 1,535 1,731 4,804 5,400
General and administrative - including $172 and $167 to related parties for the three months ended and $523 and $631 for the nine months ended 3,114 2,730 9,382 9,054
Impairment charge 0 3,642 520 3,642
Depreciation 1,787 1,777 4,740 5,147
Total expenses 9,840 13,169 29,133 32,594
Total revenues less total expenses (2,126) (5,856) (7,359) (11,541)
Equity in loss of unconsolidated joint ventures (4,196) (1,529) (6,033) (4,731)
Equity in earnings from sale of unconsolidated joint ventures properties 34,982 0 34,982 0
Gain on sale of real estate 414 0 7,693 0
Gain on sale of partnership interest 0 0 2,244 0
Loss on extinguishment of debt (902) 0 (902) 0
Income (loss) from continuing operations 28,172 (7,385) 30,625 (16,272)
Income tax provision 31 65 155 192
Net income (loss) from continuing operations, net of taxes 28,141 (7,450) 30,470 (16,464)
Net income attributable to non-controlling interests (35) (34) (102) (97)
Net income (loss) attributable to common stockholders $ 28,106 $ (7,484) $ 30,368 $ (16,561)
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 17,261,520 17,176,401 16,916,623 17,095,315
Diluted (in shares) 17,292,988 17,176,401 16,992,974 17,095,315
Per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ 1.55 $ (0.44) $ 1.71 $ (0.97)
Diluted (in dollars per share) $ 1.54 $ (0.44) $ 1.70 $ (0.97)