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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Rental income $ 117,740,000 $ 111,452,000 $ 342,787,000 $ 331,247,000
Other operating 2,059,000 2,010,000 5,987,000 5,973,000
Revenues 119,799,000 113,462,000 348,774,000 337,220,000
EXPENSES        
Property operating 46,777,000 44,135,000 133,790,000 127,691,000
General and administrative 10,802,000 8,504,000 27,157,000 25,977,000
Acquisition and pursuit costs 501,000 141,000 1,227,000 538,000
Depreciation and amortization 45,137,000 42,061,000 131,725,000 121,764,000
Bad debts, net of recoveries   (62,000)   42,000
Total Expenses 103,217,000 94,779,000 293,899,000 276,012,000
OTHER INCOME (EXPENSE)        
Gain on sales of real estate assets 200,000 1,288,000 5,065,000 30,879,000
Interest expense (14,181,000) (13,464,000) (41,619,000) (39,202,000)
Impairment of real estate assets 0   (5,610,000)  
Interest and other income (expense), net 0 41,000 (736,000) 571,000
Total other income (expense) (13,981,000) (12,135,000) (42,900,000) (7,752,000)
NET INCOME $ 2,601,000 $ 6,548,000 $ 11,975,000 $ 53,456,000
Basic earnings per common share (in dollars per share) $ 0.02 $ 0.05 $ 0.08 $ 0.42
Diluted earnings per common share (in dollars per share) $ 0.02 $ 0.05 $ 0.08 $ 0.42
Weighted average common shares outstanding - basic 128,090,074 123,299,809 126,570,895 123,280,753
Weighted average common shares outstanding - diluted 128,168,684 123,351,956 126,656,585 123,335,516
Dividends declared, per common share, during the period (in dollars per share) $ 0.30 $ 0.30 $ 0.90 $ 0.90