| Selected Quarterly Financial Data |
Note 12 – Selected Quarterly Financial Data (Unaudited)
The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. As a result of acquisition activity and equity offerings throughout 2019 and 2018, the quarterly periods presented are not comparable quarter over quarter. The amounts below represent the Company’s actual quarterly results. Additionally, the total for the year may differ from the sum of the quarters due to rounding.
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Year Ended December 31, 2019
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First Quarter
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Second Quarter
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Third Quarter
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Fourth Quarter
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Total revenue
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$
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15,200
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$
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16,880
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$
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18,195
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$
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20,452
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Total expenses
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13,157
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14,418
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15,887
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17,677
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Net income
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2,043
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2,462
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2,308
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2,775
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Less: Preferred stock dividends
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(1,455)
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(1,455)
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(1,455)
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(1,455)
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Less: Net income attributable to noncontrolling interest
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(60)
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(103)
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(83)
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(108)
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Net income attributable to common stockholders
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$
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528
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$
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904
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$
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770
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$
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1,212
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Net income attributable to common stockholders per share – basic and diluted
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$
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0.02
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$
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0.03
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$
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0.02
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$
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0.03
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Weighted average shares outstanding – basic and diluted
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27,380
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34,559
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35,512
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37,876
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Year Ended December 31, 2018
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First Quarter
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Second Quarter
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Third Quarter
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Fourth Quarter
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Total revenue
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$
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11,564
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$
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13,249
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$
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14,003
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$
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14,376
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Total expenses
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9,663
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11,865
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12,230
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12,547
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Income before gain on sale of investment property
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1,901
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1,384
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1,773
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1,829
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Gain on sale of investment property
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—
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—
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—
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7,675
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Net income
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1,901
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1,384
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1,773
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9,504
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Less: Preferred stock dividends
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(1,455)
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(1,455)
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(1,455)
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(1,455)
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Less: Net (income) loss attributable to noncontrolling interest
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(35)
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7
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(32)
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(1,013)
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Net income (loss) attributable to common stockholders
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$
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411
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$
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(64)
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$
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286
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$
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7,036
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Net income (loss) attributable to common stockholders per share – basic and diluted
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$
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0.02
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$
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(0.00)
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$
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0.01
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$
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0.31
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Weighted average shares outstanding – basic and diluted
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21,631
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21,631
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21,797
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22,815
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