Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenue    
Rental revenue $ 15,141 $ 11,556
Other income 59 8
Total revenue 15,200 11,564
Expenses    
General and administrative 1,606 1,005
Operating expenses 1,323 1,105
Management fees – related party 1,334 [1] 1,081
Depreciation expense 3,867 2,906
Amortization expense 1,002 765
Interest expense 4,025 2,684
Acquisition fees 0 117
Total expenses 13,157 9,663
Net income 2,043 1,901
Less: Preferred stock dividends (1,455) (1,455)
Less: Net income attributable to noncontrolling interest (60) (35)
Net income attributable to common stockholders $ 528 $ 411
Net income attributable to common stockholders per share – basic and diluted $ 0.02 $ 0.02
Weighted average shares outstanding – basic and diluted 27,380 21,631
[1] Net amount accrued of $192 consists of $1,334 in management fee expense incurred, net of $1,142 of accrued management fees that were paid to the Advisor. This represents a cash flow operating activity.