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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUE        
Minimum rent $ 49,736 $ 47,591 $ 149,970 $ 144,540
Percentage rent 106 71 570 511
Recovery income from tenants 14,923 15,289 46,655 48,067
Other property income 1,078 1,055 3,310 2,927
Management and other fee income 88 73 314 429
TOTAL REVENUE 65,931 64,079 200,819 196,474
EXPENSES        
Real estate taxes 10,948 10,269 32,670 31,710
Recoverable operating expense 6,660 6,475 20,699 21,227
Non-recoverable operating expense 825 603 3,216 2,560
Depreciation and amortization 23,130 23,245 69,282 69,806
Acquisition costs 0 55 0 118
General and administrative expense 5,952 5,787 18,775 17,075
Provision for impairment 1,885 977 8,423 977
TOTAL EXPENSES 49,400 47,411 153,065 143,473
OPERATING INCOME 16,531 16,668 47,754 53,001
OTHER INCOME AND EXPENSES        
Other (expense) income, net 123 (158) (612) (307)
Gain on sale of real estate 24,545 9,359 35,920 35,684
Earnings from unconsolidated joint ventures 81 119 223 337
Interest expense (11,586) (11,140) (33,871) (33,818)
Other gain on unconsolidated joint ventures 0 0 0 215
Loss on extinguishment of debt 0 (847) 0 (847)
INCOME BEFORE TAX 29,694 14,001 49,414 54,265
Income tax provision (65) (133) (119) (234)
NET INCOME 29,629 13,868 49,295 54,031
Net income attributable to noncontrolling partner interest (696) (326) (1,158) (1,282)
NET INCOME ATTRIBUTABLE TO RPT 28,933 13,542 48,137 52,749
Preferred share dividends (1,675) (1,675) (5,026) (5,026)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 27,258 $ 11,867 $ 43,111 $ 47,723
EARNINGS PER COMMON SHARE        
Basic (in usd per share) $ 0.34 $ 0.15 $ 0.54 $ 0.60
Diluted (in usd per share) $ 0.33 $ 0.15 $ 0.54 $ 0.60
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic (in shares) 79,381 79,249 79,337 79,226
Diluted (in shares) 86,259 79,437 79,514 79,404
Cash Dividend Declared per Common Share (in usd per share) $ 0.22 $ 0.21 $ 0.66 $ 0.64
OTHER COMPREHENSIVE INCOME        
Net income $ 29,629 $ 13,868 $ 49,295 $ 54,031
Other comprehensive gain (loss):        
Gain (loss) on interest rate swaps 196 1,745 287 (5,252)
Comprehensive income 29,825 15,613 49,582 48,779
Comprehensive income attributable to noncontrolling interest (701) (367) (1,164) (1,154)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT $ 29,124 $ 15,246 $ 48,418 $ 47,625