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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Rental and related revenues $ 436,893,000 $ 418,190,000 $ 404,379,000
Interest income on real estate loans and other 20,806,000 19,315,000 10,902,000
Total revenues 457,699,000 437,505,000 415,281,000
Expenses:      
Interest expense 60,136,000 57,179,000 65,022,000
General and administrative 37,757,000 33,763,000 33,099,000
Operating expenses 137,408,000 128,198,000 124,819,000
Depreciation and amortization 157,870,000 149,590,000 146,436,000
Impairment loss 340,000 4,872,000 0
Total expenses 393,511,000 373,602,000 369,376,000
Income before equity in loss of unconsolidated entities and gain on sale of investment properties, net: 64,188,000 63,903,000 45,905,000
Equity in loss of unconsolidated entities (1,570,000) (1,257,000) (28,000)
Gain on sale of investment properties, net 24,165,000 5,842,000 31,309,000
Net income 86,783,000 68,488,000 77,186,000
Net income attributable to noncontrolling interests:      
Operating Partnership (2,211,000) (1,797,000) (2,155,000)
Partially owned properties [1] (607,000) (574,000) (548,000)
Net income attributable to controlling interest 83,965,000 66,117,000 74,483,000
Preferred distributions (13,000) (1,241,000) (1,209,000)
Net income attributable to common shareholders $ 83,952,000 $ 64,876,000 $ 73,274,000
Net income per share:      
Basic (in dollars per share) $ 0.39 $ 0.32 $ 0.39
Diluted (in dollars per share) $ 0.39 $ 0.32 $ 0.39
Weighted average common shares:      
Basic (in shares) 216,135,385 204,243,768 185,770,251
Diluted (in shares) 223,060,556 211,145,917 191,626,320
Dividends and distributions declared per common share (in dollars per share) $ 0.92 $ 0.92 $ 0.92
[1] Includes amounts attributable to redeemable noncontrolling interests.