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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental revenue $ 182,515,000 $ 179,250,000 $ 529,734,000 $ 526,415,000
Fee and other income 6,666,000 7,897,000 20,583,000 29,934,000
Total revenues 189,181,000 187,147,000 550,317,000 556,349,000
Expenses:        
Operating 75,502,000 72,845,000 216,889,000 207,320,000
Depreciation and amortization 60,263,000 58,284,000 181,778,000 171,306,000
General and administrative 15,460,000 13,150,000 46,307,000 45,501,000
Transaction related costs 132,000 105,000 323,000 381,000
Total expenses 151,357,000 144,384,000 445,297,000 424,508,000
Other income (expense):        
Income (loss) from real estate related fund investments 2,060,000 0 (37,034,000) 0
(Loss) income from unconsolidated real estate related funds (721,000) 300,000 (867,000) 625,000
Loss from unconsolidated joint ventures (28,974,000) (5,797,000) (63,138,000) (15,326,000)
Interest and other income, net 4,115,000 1,580,000 10,007,000 2,607,000
Interest and debt expense (39,102,000) (36,949,000) (112,440,000) (106,804,000)
(Loss) income before income taxes (24,798,000) 1,897,000 (98,452,000) 12,943,000
Income tax expense (263,000) (673,000) (1,124,000) (1,559,000)
Net (loss) income (25,061,000) 1,224,000 (99,576,000) 11,384,000
Less net (income) loss attributable to noncontrolling interests in:        
Consolidated joint ventures (4,887,000) (4,179,000) (15,879,000) (12,383,000)
Consolidated real estate related funds 20,934,000 1,309,000 57,412,000 2,677,000
Operating Partnership 629,000 109,000 3,849,000 (204,000)
Net (loss) income attributable to common stockholders $ (8,385,000) $ (1,537,000) $ (54,194,000) $ 1,474,000
(Loss) Income per Common Share - Basic:        
(Loss) income per common share $ (0.04) $ (0.01) $ (0.25) $ 0.01
Weighted average shares outstanding 217,043,022 224,864,791 216,871,778 222,228,605
(Loss) Income per Common Share - Diluted:        
(Loss) income per common share $ (0.04) $ (0.01) $ (0.25) $ 0.01
Weighted average shares outstanding 217,043,022 224,864,791 216,871,778 222,262,748