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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental revenues $ 29,464 $ 25,771 $ 86,570 $ 74,325
Expenses:        
Depreciation 7,134 6,534 21,348 18,995
Amortization 1,207 757 3,318 2,271
Loss on real estate investment impairment 2,451
General and administrative expenses 1,428 1,560 5,064 3,974
Property taxes 3,481 3,717 10,650 11,152
Facility rent expenses 184 147 577 419
Total expenses 13,434 12,715 40,957 39,262
Income from operations 16,030 13,056 45,613 35,063
Interest expense, net (8,590) (7,865) (24,028) (17,983)
Amortization of deferred financing costs (165) (148) (488) (401)
Mortgage insurance premium (374) (420) (1,164) (1,253)
Total interest expense (9,129) (8,433) (25,680) (19,637)
Other (loss) Income:        
Other expense (982)
Foreign currency transaction gain 81 81
Net income 6,901 4,704 19,933 14,525
Less -        
Net income attributable to non-controlling interest (5,957) (4,115) (17,305) (12,743)
Net income attributable to common stockholders 944 589 2,628 1,782
Other comprehensive income:        
Gain (loss) due to foreign currency translation (869) 3,041 3,116 7,325
Reclassification of foreign currency transaction gain (81) (81)
Comprehensive (income) loss attributable to non-controlling interest 746 (2,590) (2,720) (6,355)
Comprehensive income 821 959 3,024 2,671
Net income attributable to common stockholders $ 944 $ 589 $ 2,628 $ 1,782
Basic income per common share $ 0.14 $ 0.09 $ 0.40 $ 0.28
Diluted income per common share $ 0.14 $ 0.09 $ 0.40 $ 0.28
Weighted average number of common shares outstanding, Basic 6,950,305 6,366,548 6,636,699 6,366,090
Weighted average number of common shares outstanding, Diluted 6,950,305 6,366,548 6,636,699 6,366,090