Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.25.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue      
Rental revenue $ 138,410 $ 140,934 $ 137,167
Other income 370 115 116
Total revenue 138,780 141,049 137,283
Expenses      
General and administrative 21,123 16,853 16,545
Operating expenses 29,251 28,082 25,188
Depreciation expense 40,427 41,266 40,008
Amortization expense 14,932 16,869 16,715
Interest expense 28,689 30,893 25,230
Transaction expense 155 44 354
Total expenses 134,577 134,007 124,040
Income before other income (expense) 4,203 7,042 13,243
Gain on sale of investment property 4,205 15,560 6,753
Impairment of investment property (1,696) 0 0
Equity loss from unconsolidated joint venture (20) 0 0
Loss on extinguishment of debt 0 (868) 0
Net income 6,692 21,734 19,996
Less: Preferred stock dividends (5,822) (5,822) (5,822)
Less: Net income attributable to noncontrolling interest (59) (1,122) (854)
Net income (loss) attributable to common stockholders $ 811 $ 14,790 $ 13,320
Net income (loss) attributable to common stockholders per share - basic $ 0.01 $ 0.23 $ 0.2
Net income (loss) attributable to common stockholders per share - diluted $ 0.01 $ 0.23 $ 0.2
Weighted average shares outstanding - basic 65,936 65,550 65,462
Weighted average shares outstanding - diluted 65,936 65,550 65,462