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Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUE        
Rental income $ 43,686 $ 56,641 $ 95,408 $ 114,999
TOTAL REVENUE 44,627 57,361 97,503 117,069
EXPENSES        
Real estate taxes 8,453 8,722 16,604 18,544
Recoverable operating expense 4,797 5,343 10,776 12,024
Non-recoverable operating expense 2,146 2,709 4,423 5,199
Depreciation and amortization 17,860 20,628 38,708 39,847
Transaction costs 12 0 186 0
General and administrative expense 6,695 6,530 12,917 12,596
Insured expenses, net (1,713) 0 (1,653) 0
TOTAL EXPENSES 38,250 43,932 81,961 88,210
OPERATING INCOME 6,377 13,429 15,542 28,859
OTHER INCOME AND EXPENSES        
Other income (expense), net 61 (123) 414 (231)
Gain on sale of real estate 0 371 0 6,073
Earnings from unconsolidated joint ventures 802 26 1,058 80
Interest expense (10,177) (10,084) (19,578) (20,433)
Loss on extinguishment of debt 0 (622) 0 (622)
(LOSS) INCOME BEFORE TAX (2,937) 2,997 (2,564) 13,726
Income tax provision (19) (35) (50) (71)
NET (LOSS) INCOME (2,956) 2,962 (2,614) 13,655
Net loss (income) attributable to noncontrolling partner interest 68 (69) 60 (319)
NET (LOSS) INCOME ATTRIBUTABLE TO RPT (2,888) 2,893 (2,554) 13,336
Preferred share dividends (1,675) (1,675) (3,350) (3,350)
NET (LOSS) INCOME AVAILABLE TO COMMON SHAREHOLDERS $ (4,563) $ 1,218 $ (5,904) $ 9,986
(LOSS) EARNINGS PER COMMON SHARE        
Basic (in usd per share) $ (0.06) $ 0.01 $ (0.08) $ 0.12
Diluted (in usd per share) $ (0.06) $ 0.01 $ (0.08) $ 0.12
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic (in shares) 79,976 79,764 79,942 79,754
Diluted (in shares) 79,976 80,156 79,942 80,148
Cash Dividend Declared per Common Share (in usd per share) $ 0 $ 0.22 $ 0.22 $ 0.44
OTHER COMPREHENSIVE INCOME        
Net (loss) income $ (2,956) $ 2,962 $ (2,614) $ 13,655
Other comprehensive gain (loss):        
(Loss) gain on interest rate swaps (2,125) (2,534) (19,436) (4,073)
Comprehensive (loss) income (5,081) 428 (22,050) 9,582
Comprehensive loss (income) attributable to noncontrolling interest 117 (10) 510 (224)
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO RPT (4,964) 418 (21,540) 9,358
Other property income        
REVENUE        
TOTAL REVENUE 713 681 1,516 1,980
Management and other fee income        
REVENUE        
TOTAL REVENUE $ 228 $ 39 $ 579 $ 90