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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental and other revenue from real estate properties $ 23,255 $ 14,683 $ 46,194 $ 26,113
Other income 63 2 63 6
Total revenues 23,318 14,685 46,257 26,119
Expenses:        
Real estate operating expenses - including $10 and $8 to related parties for the three months ended and $16 and $19 for the six months ended 10,548 6,348 20,982 11,101
Interest expense 5,513 2,912 10,996 4,933
General and administrative - including $165 and $185 to related parties for the three months ended and $337 and $431 for the six months ended 3,848 3,533 7,903 7,166
Depreciation and amortization 7,543 5,010 15,551 8,616
Total expenses 27,452 17,803 55,432 31,816
Total revenues less total expenses (4,134) (3,118) (9,175) (5,697)
Equity in earnings (loss) of unconsolidated joint ventures 464 (50) 1,279 1,180
Equity in earnings from sale of unconsolidated joint ventures properties 14,744 40,098 14,744 53,059
Gain on sale of real estate 0 0 0 6
Insurance recovery of casualty loss 215 0 215 0
Gain on insurance recoveries 0 0 240 0
Loss on extinguishment of debt 0 (563) 0 (563)
Income from continuing operations 11,289 36,367 7,303 47,985
Income tax provision 51 724 127 798
Income from continuing operations, net of taxes 11,238 35,643 7,176 47,187
Net income attributable to non-controlling interest (36) (36) (72) (72)
Net income attributable to common stockholders $ 11,202 $ 35,607 $ 7,104 $ 47,115
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 18,155,062 17,671,073 18,110,508 17,616,740
Diluted (in shares) 18,220,814 17,726,343 18,157,804 17,690,601
Per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ 0.59 $ 1.91 $ 0.37 $ 2.54
Diluted (in dollars per share) $ 0.58 $ 1.91 $ 0.37 $ 2.53