v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Rental revenue $ 35,487 $ 35,347 $ 108,003 $ 100,877
Other income 20 59 85 100
Total revenue 35,507 35,406 108,088 100,977
Expenses        
General and administrative 4,367 3,961 12,633 12,494
Operating expenses 7,231 6,679 21,989 18,050
Depreciation expense 10,100 10,128 31,062 29,428
Amortization expense 4,095 4,287 12,828 12,202
Interest expense 7,170 6,963 23,909 17,166
Preacquisition expense   112 44 242
Total expenses 32,963 32,130 102,465 89,582
Income before gain on sale of investment property 2,544 3,276 5,623 11,395
Gain on sale of investment property 2,289 6,753 15,560 6,753
Net income 4,833 10,029 21,183 18,148
Less: Preferred stock dividends (1,455) (1,455) (4,366) (4,366)
Less: Net income attributable to noncontrolling interest (240) (517) (1,187) (830)
Net income (loss) attributable to common stockholders $ 3,138 $ 8,057 $ 15,630 $ 12,952
Net income (loss) attributable to common stockholders per share - basic $ 0.05 $ 0.12 $ 0.24 $ 0.20
Net income (loss) attributable to common stockholders per share - diluted $ 0.05 $ 0.12 $ 0.24 $ 0.20
Weighted average shares outstanding - basic 65,565 65,518 65,545 65,443
Weighted average shares outstanding - diluted 65,565 65,518 65,545 65,443

Source