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Condensed Consolidated Statements of 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
Revenues:        
Rental revenue $ 120,844 $ 112,613 $ 237,957 $ 227,521
Tenant expense reimbursement 17,569 19,054 33,543 37,174
Observatory revenue 33,966 31,838 54,906 53,019
Third-party management and other fees 392 423 743 968
Other revenue and fees 4,353 1,887 14,929 4,207
Total revenues 177,124 165,815 342,078 322,889
Operating expenses:        
Property operating expenses 38,529 37,386 80,739 76,490
Ground rent expenses 2,332 2,330 4,663 4,663
General and administrative expenses 12,579 12,907 23,667 23,825
Observatory expenses 7,176 6,895 14,431 14,650
Real estate taxes 24,542 23,557 49,100 47,082
Acquisition expenses 0 0 0 98
Depreciation and amortization 40,532 38,548 81,378 77,775
Total operating expenses 125,690 121,623 253,978 244,583
Total operating income 51,434 44,192 88,100 78,306
Other expense:        
Interest expense (17,477) (17,420) (35,219) (35,371)
Loss from derivative financial instruments (42) 0 (289) 0
Income before income taxes 33,915 26,772 52,592 42,935
Income tax expense (2,556) (2,132) (2,088) (1,590)
Net income 31,359 24,640 50,504 41,345
Private perpetual preferred unit distributions (234) (234) (468) (468)
Net income attributable to non-controlling interests (14,541) (13,317) (23,467) (22,360)
Net income attributable to common stockholders $ 16,584 $ 11,089 $ 26,569 $ 18,517
Total weighted average shares:        
Basic (in shares) 157,921 122,502 157,265 121,640
Diluted (in shares) 298,398 266,167 298,180 267,121
Earnings per share attributable to common stockholders:        
Basic (in USD per share) $ 0.10 $ 0.09 $ 0.17 $ 0.15
Diluted (in USD per share) 0.10 0.09 0.17 0.15
Dividends per share (in USD per share) $ 0.105 $ 0.105 $ 0.21 $ 0.19