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Selected Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
Summarized quarterly financial data is as follows:
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2018
 
 
 
 
 
 
 
Revenue
$
225,405

 
$
224,902

 
$
229,753

 
$
235,376

Operating income
$
86,145

 
$
89,896

 
$
90,342

 
$
83,338

Net income(1)
$
62,931

 
$
65,533

 
$
64,180

 
$
56,382

Net income attributable to the Trust(1)
$
61,247

 
$
63,595

 
$
62,558

 
$
54,507

Net income available for common shareholders(1)
$
59,237

 
$
61,584

 
$
60,548

 
$
52,496

Earnings per common share—basic(1)
$
0.81

 
$
0.84

 
$
0.82

 
$
0.71

Earnings per common share—diluted(1)
$
0.81

 
$
0.84

 
$
0.82

 
$
0.71

 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands, except per share data)
2017
 
 
 
 
 
 
 
Revenue
$
207,389

 
$
208,049

 
$
217,953

 
$
223,957

Operating income
$
81,544

 
$
83,090

 
$
84,497

 
$
83,157

Net income(2)
$
58,070

 
$
78,133

 
$
108,882

 
$
52,785

Net income attributable to the Trust(2)
$
56,190

 
$
76,291

 
$
106,777

 
$
50,656

Net income available for common shareholders(2)
$
56,055

 
$
76,156

 
$
106,600

 
$
48,645

Earnings per common share—basic(2)
$
0.78

 
$
1.05

 
$
1.47

 
$
0.67

Earnings per common share—diluted(2)
$
0.78

 
$
1.05

 
$
1.47

 
$
0.67

 
(1)
First and second quarter 2018 include net gains of $3.3 million and $4.0 million, respectively, related to condominiums sold at our Assembly Row and Pike & Rose properties. Third quarter 2018 includes a $3.1 million gain on sale of real estate from our residential building at our Chelsea Commons property. Fourth quarter 2018 includes a $1.6 million gain on sale of real estate from our Atlantic Plaza property. All of these transactions are further discussed in Note 3.
(2)
Second quarter 2017 includes a $15.4 million gain related to the sale of three ground lease parcels at our Assembly Row property in Somerville, Massachusetts. Third quarter 2017 includes a $50.8 million gain on sale of real estate from our 150 Post Street and North Lake Commons properties. Fourth quarter 2017 includes a $6.5 million gain related to the sale of a parcel of land at our Bethesda Row property. Additionally, second, third, and fourth quarter 2017 include net percentage-of-completion gains of $3.3 million, $0.6 million, and $1.5 million, respectively, related to condominiums under binding contract at our Assembly Row property. All of these transactions are further discussed in Note 3. Fourth quarter 2017 includes a $12.3 million early extinguishment of debt charge.