Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue    
Rental revenue $ 35,069 $ 36,199
Other income 49 31
Total revenue 35,118 36,230
Expenses    
General and administrative 4,446 3,804
Operating expenses 7,384 7,536
Depreciation expense 10,113 10,494
Amortization expense 3,971 4,395
Interest expense 6,890 8,271
Preacquisition expense   42
Total expenses 32,804 34,542
Income before gain on sale of investment property 2,314 1,688
Gain on sale of investment property   485
Net income 2,314 2,173
Less: Preferred stock dividends (1,455) (1,455)
Less: Net income attributable to noncontrolling interest (65) (45)
Net income (loss) attributable to common stockholders $ 794 $ 673
Net income (loss) attributable to common stockholders per share - basic $ 0.01 $ 0.01
Net income (loss) attributable to common stockholders per share - diluted $ 0.01 $ 0.01
Weighted average shares outstanding - basic 65,573 65,525
Weighted average shares outstanding - diluted 65,573 65,525