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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Rental income $ 102,534 $ 95,383 $ 302,746 $ 285,867
Mortgage interest 0 29   91
Other operating 1,125 1,313 3,576 3,931
Revenues 103,659 96,725 306,322 289,889
EXPENSES        
Property operating 37,504 35,247 109,173 103,437
General and administrative 8,724 6,258 27,098 19,709
Depreciation 29,273 26,571 85,494 79,511
Amortization 2,712 2,386 8,174 7,528
Bad debts, net of recoveries (47) (21) (8) (202)
Total Expenses 78,166 70,441 229,931 209,983
OTHER INCOME (EXPENSE)        
Gain on sales of real estate assets 0 5,915 1 47,464
Interest expense (13,759) (15,113) (43,512) (50,649)
Loss on extinguishment of debt 0 0 0 (27,998)
Pension termination 0 0 (4) (5,260)
Impairment of real estate assets 0 (310) 0 (3,638)
Impairment of internally-developed software 0 0 0 (654)
Interest and other income, net 123 72 301 311
Total other income (expense) (13,636) (9,436) (43,214) (40,424)
INCOME FROM CONTINUING OPERATIONS 11,857 16,848 33,177 39,482
DISCONTINUED OPERATIONS        
Income (loss) from discontinued operations (23) 61 (50) 725
Gain on sales of real estate properties 0 10,571 7 10,571
INCOME (LOSS) FROM DISCONTINUED OPERATIONS (23) 10,632 (43) 11,296
NET INCOME $ 11,834 $ 27,480 $ 33,134 $ 50,778
BASIC EARNINGS PER COMMON SHARE:        
Income from continuing operations (in dollars per share) $ 0.10 $ 0.17 $ 0.31 $ 0.40
Discontinued operations (in dollars per share) 0.00 0.11 0.00 0.11
Net income (in dollars per share) 0.10 0.28 0.31 0.51
DILUTED EARNINGS PER COMMON SHARE:        
Income from continuing operations (in dollars per share) 0.10 0.17 0.31 0.40
Discontinued operations (in dollars per share) 0.00 0.10 0.00 0.11
Net income (in dollars per share) $ 0.10 $ 0.27 $ 0.31 $ 0.51
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC (in shares) 114,152,146 99,337,084 106,551,834 98,993,602
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED (in shares) 115,052,036 99,996,555 107,365,847 99,693,670
DIVIDENDS DECLARED, PER COMMON SHARE, DURING THE PERIOD (in dollars per share) $ 0.30 $ 0.30 $ 0.90 $ 0.90