Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue      
Rental revenue $ 115,804 $ 93,518 $ 70,515
Other income 132 212 211
Total revenue 115,936 93,730 70,726
Expenses      
General and administrative 16,453 11,935 6,536
Operating expenses 15,488 10,867 5,958
Management fees - related party 0 4,024 6,266
Depreciation expense 33,825 26,747 19,066
Amortization expense 13,050 9,606 5,569
Interest expense 19,696 18,680 17,472
Management internalization expense 0 14,005 0
Preacquisition expense 151 365 271
Total expenses 98,663 96,229 61,138
Income (loss) before gain on sale of investment property 17,273 (2,499) 9,588
Gain on sale of investment property 1,069 0 0
Net income (loss) 18,342 (2,499) 9,588
Less: Preferred stock dividends (5,822) (5,822) (5,822)
Less: Net (income) loss attributable to noncontrolling interest (720) 574 (354)
Net income (loss) attributable to common stockholders $ 11,800 $ (7,747) $ 3,412
Net income (loss) attributable to common stockholders per share - basic $ 0.19 $ (0.17) $ 0.10
Net income (loss) attributable to common stockholders per share - diluted $ 0.19 $ (0.17) $ 0.10
Weighted average shares outstanding - basic 60,640 46,256 33,865
Weighted average shares outstanding - diluted 60,640 46,256 33,865