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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Rental revenues $ 28,598 $ 26,755 $ 57,297 $ 53,987
Total revenues 49,252 83,426 101,001 174,177
Expenses        
Rental expenses 6,522 6,171 12,946 12,239
Real estate taxes 2,735 2,595 5,548 5,104
Depreciation and amortization 9,179 9,304 18,457 18,779
General and administrative expenses 2,764 2,678 5,725 5,664
Acquisition, development and other pursuit costs 9 369 93 416
Impairment charges 98 27 98 31
Total expenses 41,394 75,159 85,368 157,444
Operating income 7,858 8,267 15,633 16,733
Interest income 2,375 1,658 4,607 3,056
Interest expense (4,497) (4,494) (8,870) (9,029)
Gain on real estate dispositions 0 0 0 3,395
Change in fair value of interest rate derivatives (11) (81) 958 213
Other income 54 43 168 80
Income before taxes 5,779 5,393 12,496 14,448
Income tax benefit (provision) 166 (450) 432 (752)
Net income 5,945 4,943 12,928 13,696
Net income attributable to noncontrolling interests (1,626) (1,472) (3,569) (4,289)
Net income attributable to stockholders $ 4,319 $ 3,471 $ 9,359 $ 9,407
Net income attributable to stockholders per share (basic and diluted) (in dollars per share) $ 0.09 $ 0.08 $ 0.21 $ 0.24
Weighted-average common shares outstanding (basic and diluted) (in shares) 45,928 42,091 45,532 39,869
Dividends and distributions declared per common share and unit (in dollars per share) $ 0.2 $ 0.19 $ 0.4 $ 0.38
General contracting and real estate services        
General contracting and real estate services revenues $ 20,654 $ 56,671 $ 43,704 $ 120,190
General contracting and real estate services expenses $ 20,087 $ 54,015 $ 42,501 $ 115,211