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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Rental income $ 114,351,000 $ 109,566,000 $ 225,046,000 $ 219,795,000
Other operating 1,966,000 2,068,000 3,928,000 3,963,000
Revenues 116,317,000 111,634,000 228,974,000 223,758,000
EXPENSES        
Property operating 44,286,000 41,737,000 87,012,000 83,556,000
General and administrative 7,845,000 8,373,000 16,355,000 17,473,000
Acquisition and pursuit costs 422,000 120,000 726,000 397,000
Depreciation and amortization 43,926,000 40,130,000 86,588,000 79,703,000
Bad debts, net of recoveries   104,000   104,000
Total Expenses 96,479,000 90,464,000 190,681,000 181,233,000
OTHER INCOME (EXPENSE)        
Gain on sales of real estate assets 4,849,000 29,590,000 4,865,000 29,590,000
Interest expense (13,850,000) (13,069,000) (27,438,000) (25,737,000)
Impairment of real estate assets (5,610,000)   (5,610,000)  
Interest and other income (expense), net (743,000) 38,000 (735,000) 530,000
Total other income (expense) (15,354,000) 16,559,000 (28,918,000) 4,383,000
NET INCOME $ 4,484,000 $ 37,729,000 $ 9,375,000 $ 46,908,000
Basic earnings per common share (in dollars per share) $ 0.03 $ 0.30 $ 0.07 $ 0.37
Diluted earnings per common share (in dollars per share) $ 0.03 $ 0.30 $ 0.07 $ 0.37
Weighted average common shares outstanding - basic (in shares) 127,449,454 123,284,634 125,798,715 123,271,068
Weighted average common shares outstanding - diluted (in shares) 127,524,607 123,321,005 125,889,355 123,324,160
Dividends declared, per common share, during the period (in dollars per share) $ 0.30 $ 0.30 $ 0.60 $ 0.60