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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental revenues $ 53,327 $ 28,145 $ 130,378 $ 72,111
Expense recoveries 14,361 5,821 31,816 14,265
Interest income on real estate loans and other 2,322 904 5,166 2,661
Total revenues 70,010 34,870 167,360 89,037
Expenses:        
Interest expense 7,300 3,341 15,776 7,244
General and administrative 4,917 4,018 13,964 11,359
Operating expenses 19,159 7,966 43,994 20,979
Depreciation and amortization 23,969 12,476 59,778 31,067
Acquisition expenses 4,398 3,257 11,031 11,764
Total expenses 59,743 31,058 144,543 82,413
Income before equity in income of unconsolidated entity and gain on sale of investment property: 10,267 3,812 22,817 6,624
Equity in income of unconsolidated entity 27 26 85 78
Gain on sale of investment property 0 145 0 130
Net income 10,294 3,983 22,902 6,832
Net income attributable to noncontrolling interests:        
Operating Partnership (255) (200) (629) (333)
Partially owned properties (176) (79) (553) (255)
Net income attributable to controlling interest 9,863 3,704 21,720 6,244
Preferred distributions (436) (300) (1,421) (791)
Numerator for earnings per share - basic $ 9,427 $ 3,404 $ 20,299 $ 5,453
Net income per share:        
Basic (in dollars per share) $ 0.07 $ 0.05 $ 0.17 $ 0.08
Diluted (in dollars per share) $ 0.07 $ 0.05 $ 0.16 $ 0.08
Weighted average common shares:        
Basic (in shares) 134,608,396 71,034,747 122,973,862 69,040,121
Diluted (in shares) 138,880,787 75,104,821 127,395,989 73,040,846
Dividends and distributions declared per common share and OP Unit (in dollars per share) $ 0.225 $ 0.225 $ 0.675 $ 0.675