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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental revenues $ 78,091 $ 78,820 $ 235,762 $ 224,206
Expense recoveries 26,271 26,295 76,099 76,508
Interest income on real estate loans and other 5,204 2,478 14,199 7,150
Total revenues 109,566 107,593 326,060 307,864
Expenses:        
Interest expense 13,698 16,185 43,521 48,507
General and administrative 8,346 8,110 25,565 24,758
Operating expenses 32,503 31,504 94,495 94,348
Depreciation and amortization 37,952 36,614 111,744 109,348
Total expenses 92,499 92,413 275,325 276,961
Income before equity in (loss) income of unconsolidated entities and gain on sale of investment properties, net: 17,067 15,180 50,735 30,903
Equity in (loss) income of unconsolidated entities (592) 30 (856) 90
Gain on sale of investment properties, net 0 409 0 3,442
Net income 16,475 15,619 49,879 34,435
Net income attributable to noncontrolling interests:        
Operating Partnership (425) (434) (1,305) (939)
Net income attributable to noncontrolling interests - partially owned properties [1] (151) (136) (441) (410)
Net income attributable to controlling interest 15,899 15,049 48,133 33,086
Preferred distributions (317) (314) (951) (892)
Net income attributable to common shareholders $ 15,582 $ 14,735 $ 47,182 $ 32,194
Net income per share:        
Basic (in dollars per share) $ 0.07 $ 0.08 $ 0.23 $ 0.17
Diluted (in dollars per share) $ 0.07 $ 0.08 $ 0.23 $ 0.17
Weighted average common shares:        
Weighted average common shares - basic (in shares) 208,187,129 186,328,500 202,717,190 184,760,335
Weighted average common shares - diluted (in shares) 215,129,968 191,980,222 209,555,060 190,489,654
Dividends and distributions declared per common share and OP Unit (in dollars per share) $ 0.23 $ 0.23 $ 0.69 $ 0.69
[1] Includes amounts attributable to redeemable noncontrolling interests.