Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue      
Rental revenue $ 70,515 $ 53,138 $ 30,223
Other income 211 54 121
Total revenue 70,726 53,192 30,344
Expenses      
General and administrative 6,536 5,537 5,489
Operating expenses 5,958 3,720 1,860
Management fees - related party 6,266 4,422 3,123
Depreciation expense 19,066 13,644 7,929
Amortization expense 5,569 3,625 2,072
Interest expense 17,472 14,975 7,435
Preacquisition fees 271 383 2,523
Total expenses 61,138 46,306 30,431
Income (Loss) before gain on sale of investment Property 9,588 6,886 (87)
Gain on sale of investment property   7,675 0
Net income (loss) 9,588 14,561 (87)
Less: Preferred stock dividends (5,822) (5,822) (1,714)
Less: Net (income) loss attributable to noncontrolling interest (354) (1,071) 49
Net income (loss) attributable to common stockholders $ 3,412 $ 7,668 $ (1,752)
Net income (loss) attributable to common stockholders per share - basic and diluted $ 0.10 $ 0.35 $ (0.09)
Weighted average shares outstanding - basic and diluted 33,865 21,971 19,617