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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Rental income $ 28,531 $ 25,098 $ 82,325 $ 75,375
Interest income from mortgage loans 6,117 4,213 15,777 12,445
Interest and other income 295 230 708 386
Total revenues 34,943 29,541 98,810 88,206
Expenses:        
Interest expense 4,296 3,170 11,916 9,445
Depreciation and amortization 7,365 6,335 21,121 18,935
Provision for doubtful accounts 31 40 463 77
Acquisition costs 539 2 564 22
General and administrative expenses 3,739 2,872 11,162 8,468
Total expenses 15,970 12,419 45,226 36,947
Operating income 18,973 17,122 53,584 51,259
Income from unconsolidated joint ventures (674)   (1,543)  
Gain on sale of real estate, net       1,140
Net income 19,647 17,122 55,127 52,399
Income allocated to participating securities (121) (123) (370) (343)
Preferred stock dividends (818) (818) (2,454) (2,454)
Net income available to common stockholders $ 18,708 $ 16,181 $ 52,303 $ 49,602
Earnings per common share        
Basic (in dollars per share) $ 0.53 $ 0.47 $ 1.48 $ 1.43
Diluted (in dollars per share) $ 0.52 $ 0.46 $ 1.47 $ 1.42
Weighted average shares used to calculate earnings per common share        
Basic (in shares) 35,341 34,605 35,306 34,596
Diluted (in shares) 37,352 36,629 37,319 36,620
Dividends declared and paid per common share (in dollars per share) $ 0.51 $ 0.51 $ 1.53 $ 1.53