XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental (including tenant reimbursements) $ 77,286 $ 70,345 $ 228,734 $ 204,454
Other 540 538 1,616 1,444
Total revenues 77,826 70,883 230,350 205,898
Expenses:        
Property expenses 6,318 2,823 17,700 7,232
General and administrative expense 10,981 10,804 31,924 28,288
Depreciation and amortization expense 16,678 15,900 50,096 45,001
Total expenses 33,977 29,527 99,720 80,521
Income from operations 43,849 41,356 130,630 125,377
Interest and other income 2,075 773 6,625 1,411
Interest expense (4,330) (4,513) (13,322) (13,783)
Gain (loss) on exchange of Exchangeable Senior Notes     22 (125)
Net income 41,594 37,616 123,955 112,880
Preferred stock dividends (338) (338) (1,014) (1,014)
Net income attributable to common stockholders $ 41,256 $ 37,278 $ 122,941 $ 111,866
Net income attributable to common stockholders per share (Note 8):        
Basic (in dollars per share) $ 1.46 $ 1.33 $ 4.36 $ 4.10
Diluted (in dollars per share) $ 1.45 $ 1.32 $ 4.32 $ 4.06
Weighted-average shares outstanding:        
Basic (in shares) 27,983,004 27,938,568 27,971,544 27,144,953
Diluted (in shares) 28,265,605 28,157,934 28,248,054 27,496,151