XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental revenue $ 139,558 $ 139,909 $ 420,586 $ 426,021
Observatory revenue 12,796 4,419 23,758 24,049
Lease termination fees 11,321 331 15,949 1,575
Third-party management and other fees 314 283 917 930
Other revenue and fees 1,059 1,633 2,550 5,254
Total revenues 165,048 146,575 463,760 457,829
Operating expenses:        
Property operating expenses 33,357 33,836 92,429 105,054
Ground rent expenses 2,331 2,331 6,994 6,994
General and administrative expenses 14,427 14,517 42,369 48,617
Observatory expenses 6,370 5,931 16,226 18,087
Real estate taxes 29,566 31,196 92,367 90,029
Impairment charges 0 2,103 0 6,204
Depreciation and amortization 65,794 44,733 155,339 143,609
Total operating expenses 151,845 134,647 405,724 418,594
Total operating income 13,203 11,928 58,036 39,235
Other income (expense):        
Interest income 211 366 497 2,529
Interest expense (23,577) (23,360) (70,553) (66,906)
Loss on early extinguishment of debt 0 0 (214) (86)
IPO litigation expense 0 (1,165) 0 (1,165)
Loss before income taxes (10,163) (12,231) (12,234) (26,393)
Income tax (expense) benefit (20) (38) 3,271 2,794
Net income (loss) (10,183) (12,269) (8,963) (23,599)
Private perpetual preferred unit distributions (1,050) (1,050) (3,151) (3,147)
Net loss attributable to non-controlling interests 4,256 5,115 4,591 10,244
Net loss attributable to common stockholders $ (6,977) $ (8,204) $ (7,523) $ (16,502)
Total weighted average shares:        
Basic (in shares) 172,494 173,048 172,487 176,299
Diluted (in shares) 277,716 280,940 277,829 285,640
Earnings per share attributable to common stockholders:        
Basic (in USD per share) $ (0.04) $ (0.05) $ (0.04) $ (0.09)
Diluted (in USD per share) (0.04) (0.05) (0.04) (0.09)
Dividends per share (in USD per share) $ 0.035 $ 0 $ 0.070 $ 0.210