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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, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUE        
TOTAL REVENUE $ 55,175 $ 46,487 $ 157,492 $ 143,990
EXPENSES        
Real estate taxes 8,249 8,509 25,558 25,113
Recoverable operating expense 6,003 5,118 17,935 15,894
Non-recoverable operating expense 2,507 2,126 7,186 6,549
Depreciation and amortization 18,487 18,295 53,463 57,003
Transaction costs 389 0 389 186
General and administrative expense 7,330 6,062 22,298 18,979
Provision for impairment 5 0 5 0
Insured expenses, net 0 (1,092) 0 (2,745)
Total expenses 42,970 39,018 126,834 120,979
Gain on sale of real estate 22,196 0 75,415 0
OPERATING INCOME 34,401 7,469 106,073 23,011
OTHER INCOME AND EXPENSES        
Other (expense) income, net (38) (92) (223) 322
Earnings from unconsolidated joint ventures 1,074 456 2,947 1,514
Interest expense (9,297) (9,913) (28,008) (29,491)
INCOME (LOSS) BEFORE TAX 26,140 (2,080) 80,789 (4,644)
Income tax benefit 157 87 47 37
NET INCOME (LOSS) 26,297 (1,993) 80,836 (4,607)
Net (income) loss attributable to noncontrolling partner interest (595) 46 (1,843) 106
NET INCOME (LOSS) ATTRIBUTABLE TO RPT 25,702 (1,947) 78,993 (4,501)
Preferred share dividends (1,676) (1,676) (5,026) (5,026)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ 24,026 $ (3,623) $ 73,967 $ (9,527)
EARNINGS (LOSS) PER COMMON SHARE        
Basic (in usd per share) $ 0.30 $ (0.05) $ 0.92 $ (0.12)
Diluted (in usd per share) $ 0.29 $ (0.05) $ 0.89 $ (0.12)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic (in shares) 80,418 80,051 80,228 79,978
Diluted (in shares) 88,851 80,051 88,544 79,978
Cash Dividend Declared per Common Share (in usd per share) $ 0.120 $ 0 $ 0.270 $ 0.220
OTHER COMPREHENSIVE INCOME (LOSS)        
Net income (loss) $ 26,297 $ (1,993) $ 80,836 $ (4,607)
Other comprehensive (loss) gain:        
Gain (loss) on interest rate swaps, net 1,201 936 7,906 (18,500)
Comprehensive income (loss) 27,498 (1,057) 88,742 (23,107)
Comprehensive (income) loss attributable to noncontrolling interest (620) 25 (2,022) 535
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO RPT 26,878 (1,032) 86,720 (22,572)
Rental income        
REVENUE        
TOTAL REVENUE 53,385 45,375 153,203 140,783
Other property income        
REVENUE        
TOTAL REVENUE 1,364 774 3,017 2,290
Management and other fee income        
REVENUE        
TOTAL REVENUE $ 426 $ 338 $ 1,272 $ 917