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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Rental revenues $ 28,930 $ 27,096 $ 86,227 $ 81,083
Total revenues 48,880 68,297 149,881 242,474
Expenses        
Rental expenses 7,103 6,830 20,049 19,069
Real estate taxes 2,840 2,693 8,388 7,797
Depreciation and amortization 10,196 9,239 28,653 28,018
General and administrative expenses 2,367 2,098 8,092 7,762
Acquisition, development and other pursuit costs 69 61 162 477
Impairment charges 3 19 101 50
Total expenses 41,551 60,317 126,919 217,761
Operating income 7,329 7,980 22,962 24,713
Interest income 2,545 1,910 7,152 4,966
Interest expense (4,677) (4,253) (13,547) (13,282)
Loss on extinguishment of debt (11) 0 (11) 0
Gain on real estate dispositions 0 4,692 0 8,087
Change in fair value of interest rate derivatives 298 87 1,256 300
Other income 65 74 233 154
Income before taxes 5,549 10,490 18,045 24,938
Income tax benefit (provision) 120 (29) 552 (781)
Net income 5,669 10,461 18,597 24,157
Net income attributable to noncontrolling interests (1,467) (2,973) (5,036) (7,262)
Net income attributable to stockholders $ 4,202 $ 7,488 $ 13,561 $ 16,895
Net income attributable to stockholders per share (basic and diluted) (in dollars per share) $ 0.09 $ 0.17 $ 0.29 $ 0.41
Weighted-average common shares outstanding (basic and diluted) (in shares) 49,194 44,934 46,766 41,575
Dividends and distributions declared per common share and unit (in dollars per share) $ 0.20 $ 0.19 $ 0.60 $ 0.57
Comprehensive income:        
Net income $ 5,669 $ 10,461 $ 18,597 $ 24,157
Unrealized cash flow hedge losses (130) 0 (130) 0
Realized cash flow hedge losses reclassified to net income 67 0 67 0
Comprehensive income 5,606 10,461 18,534 24,157
Comprehensive income attributable to noncontrolling interests (1,450) (2,973) (5,019) (7,262)
Comprehensive income attributable to stockholders 4,156 7,488 13,515 16,895
General contracting and real estate services        
General contracting and real estate services revenues 19,950 41,201 63,654 161,391
General contracting and real estate services expenses $ 18,973 $ 39,377 $ 61,474 $ 154,588