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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Rental revenue $ 165,506,000 $ 177,243,000 $ 347,219,000 $ 347,165,000
Fee and other income 7,156,000 8,274,000 13,917,000 22,037,000
Total revenues 172,662,000 185,517,000 361,136,000 369,202,000
Expenses:        
Operating 71,078,000 67,814,000 141,387,000 134,475,000
Depreciation and amortization 62,627,000 57,398,000 121,515,000 113,022,000
General and administrative 16,224,000 16,706,000 30,847,000 32,351,000
Transaction related costs 63,000 159,000 191,000 276,000
Total expenses 149,992,000 142,077,000 293,940,000 280,124,000
Other income (expense):        
Loss from real estate related fund investments (42,644,000) 0 (39,094,000) 0
Income (loss) from unconsolidated real estate related funds 32,000 155,000 (146,000) 325,000
Loss from unconsolidated joint ventures (28,402,000) (4,416,000) (34,164,000) (9,529,000)
Interest and other income, net 2,967,000 796,000 5,892,000 1,027,000
Interest and debt expense (36,879,000) (35,578,000) (73,338,000) (69,855,000)
(Loss) income before income taxes (82,256,000) 4,397,000 (73,654,000) 11,046,000
Income tax expense (573,000) (359,000) (861,000) (886,000)
Net (loss) income (82,829,000) 4,038,000 (74,515,000) 10,160,000
Less net (income) loss attributable to noncontrolling interests in:        
Consolidated joint ventures (5,351,000) (4,779,000) (10,992,000) (8,204,000)
Consolidated real estate related funds 37,301,000 352,000 36,478,000 1,368,000
Operating Partnership 3,341,000 29,000 3,220,000 (313,000)
Net (loss) income attributable to common stockholders $ (47,538,000) $ (360,000) $ (45,809,000) $ 3,011,000
(Loss) income per Common Share - Basic:        
(Loss) income per common share $ (0.22) $ 0.00 $ (0.21) $ 0.01
Weighted average shares outstanding 217,003,931 222,971,886 216,784,737 220,888,664
(Loss) income per Common Share - Diluted:        
(Loss) income per common share $ (0.22) $ 0.00 $ (0.21) $ 0.01
Weighted average shares outstanding 217,003,931 222,971,886 216,784,737 220,930,019