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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Rental revenue $ 52,684 $ 48,071 $ 152,355 $ 139,066
Income from investment in leases - Financing receivables 17,133 15,044 46,704 42,673
Total revenues 69,817 63,115 199,059 181,739
Expenses        
Rental property operating 6,513 6,818 19,301 17,504
General and administrative 6,732 15,976 18,242 23,548
Impairment charges 0 9,033 4,849 9,033
Management fee 12,330 6,045 31,134 15,103
Performance participation allocation 7,440 5,791 22,602 13,925
Depreciation and amortization 24,489 21,707 70,641 50,377
Total expenses 57,504 65,370 166,769 129,490
Other income (expense)        
Income from unconsolidated real estate affiliates 22,811 13,152 96,205 29,926
Net gain on dispositions 42,906 0 43,620 0
Interest expense (27,602) (34,629) (96,705) (86,962)
Interest income 5,345 2,853 11,444 6,797
Other (expense) income, net (4,344) 228 (3,829) 257
Total other income (expense), net 39,116 (18,396) 50,735 (49,982)
Net income (loss) before income taxes 51,429 (20,651) 83,025 2,267
Income tax expense 1,026 0 2,438 0
Net income (loss) 50,403 (20,651) 80,587 2,267
Net (income) loss attributable to non-controlling interests (3,629) 2,858 (6,546) (1,904)
Net income (loss) attributable to ORENT shareholders $ 46,774 $ (17,793) $ 74,041 $ 363
Net income per common share– basic (in usd per share) $ 0.13 $ (0.11) $ 0.25 $ 0
Net income per common share – diluted (in usd per share) $ 0.13 $ (0.11) $ 0.25 $ 0
Weighted-average common shares outstanding, basic (in shares) 357,017,433 156,903,346 295,966,833 127,652,548
Weighted-average common shares outstanding, diluted (in shares) 386,191,878 156,919,558 324,923,336 127,668,760