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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue $ 201,705 $ 177,994 $ 185,755
EXPENSES      
Property operating expenses, excluding real estate taxes 57,753 51,625 57,249
Real estate taxes 24,104 21,533 21,066
Property management expense 8,752 5,801 6,186
Casualty loss 344 1,662 1,116
Depreciation and amortization 92,165 75,593 74,271
General and administrative expenses 16,213 13,440 14,450
TOTAL EXPENSES 199,331 169,654 174,338
Gain (loss) on sale of real estate and other investments 27,518 25,503 97,624
Operating income (loss) 29,892 33,843 109,041
Interest expense (29,078) (27,525) (30,537)
Loss on extinguishment of debt (535) (23) (2,360)
Interest and other income (loss) (2,380) (1,552) 2,092
Gain (loss) on litigation settlement 0 0 6,586
Net income (loss) (2,101) 4,743 84,822
Dividends to preferred unitholders (640) (640) (537)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 2,806 212 (6,752)
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities (94) 126 1,136
Net income (loss) attributable to controlling interests (29) 4,441 78,669
Dividends to preferred shareholders (6,428) (6,528) (6,821)
Redemption of preferred shares 0 297 0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (6,457) $ (1,790) $ 71,848
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC (in dollars per share) $ (0.47) $ (0.15) $ 6.06
NET EARNINGS (LOSS) PER COMMON SHARE - DILUTED (in dollars per share) $ (0.47) $ (0.15) $ 6.00
Weighted average shares - basic (in shares) 13,803 12,564 11,744
Weighted average shares - diluted (in shares) 15,704 13,594 13,182