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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Rental revenues $ 50,768   $ 154,946  
Rental revenues   $ 48,313   $ 128,984
Total revenues 50,768 48,313 154,946 128,984
Expenses:        
Residential property operating expenses 20,775 17,269 58,180 45,372
Property management expenses 4,187 3,400 11,400 9,286
Depreciation and amortization 19,662 21,100 61,983 59,051
Acquisition and integration costs 202 25,220 3,064 26,012
Impairment 495 1,276 3,091 10,994
Mortgage loan servicing costs 246 479 827 1,153
Interest expense 21,135 20,142 63,810 52,543
Share-based compensation 1,457 1,200 4,387 1,880
General and administrative 5,519 3,483 19,277 8,633
Management fees to AAMC 3,584 3,648 10,715 11,135
Total expenses 77,262 97,217 236,734 226,059
Net gain (loss) on real estate and mortgage loans 354 1,177 12,973 (763)
Operating loss (26,140) (47,727) (68,815) (97,838)
Casualty (losses) loss reversals, net (287) (461) (864) 59
Insurance recoveries 48 133 586 248
Other (expense) income (9,989) 128 (10,786) 918
Loss before income taxes (36,368) (47,927) (79,879) (96,613)
Income tax expense 0 6 14 6
Net loss $ (36,368) $ (47,933) $ (79,893) $ (96,619)
Loss per share of common stock - basic:        
Loss per basic share (usd per share) $ (0.68) $ (0.89) $ (1.49) $ (1.81)
Weighted average common stock outstanding – basic (in shares) 53,857,616 53,601,208 53,735,106 53,525,792
Loss per share of common stock - diluted:        
Loss per diluted share (usd per share) $ (0.68) $ (0.89) $ (1.49) $ (1.81)
Weighted average common stock outstanding – diluted (in shares) 53,857,616 53,601,208 53,735,106 53,525,792
Dividends declared per common share (usd per share) $ 0.15 $ 0.15 $ 0.45 $ 0.45