XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Income (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Rental revenue $ 148,113 $ 143,417
Observatory revenue 19,544 20,569
Lease termination fees 211 388
Third-party management and other fees 346 320
Other revenue and fees 2,010 2,599
Total revenues 170,224 167,293
Operating expenses:    
Property operating expenses 41,468 42,955
Ground rent expenses 2,331 2,331
General and administrative expenses 15,951 14,026
Observatory expenses 8,154 7,575
Real estate taxes 29,254 28,232
Depreciation and amortization 46,093 46,098
Total operating expenses 143,251 141,217
Total operating income 26,973 26,076
Other income (expense):    
Interest income 637 3,739
Interest expense (19,618) (20,689)
Loss on early extinguishment of debt (86) 0
Income before income taxes 7,906 9,126
Income tax benefit 382 730
Net income 8,288 9,856
Private perpetual preferred unit distributions (1,050) (234)
Net income attributable to non-controlling interests (2,743) (3,945)
Net income attributable to common stockholders $ 4,495 $ 5,677
Total weighted average shares:    
Basic (in shares) 181,741 175,850
Diluted (in shares) 292,645 298,049
Earnings per share attributable to common stockholders:    
Basic (in USD per share) $ 0.02 $ 0.03
Diluted (in USD per share) 0.02 0.03
Dividends per share (in USD per share) $ 0.105 $ 0.105