Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income

v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
OPERATING REVENUES:        
Lease revenue, net $ 16,893 $ 12,638 $ 32,927 $ 27,918
Total operating revenues 16,893 12,638 32,927 27,918
OPERATING EXPENSES:        
Depreciation and amortization 6,285 3,843 12,336 8,100
Property operating expenses 906 717 1,336 1,238
Base management fee 1,376 1,047 2,746 2,081
Incentive fee 0 0 1,162 1,334
Administration fee 347 357 703 740
General and administrative expenses 581 490 1,119 1,044
Total operating expenses 9,495 6,454 19,402 14,537
OTHER INCOME (EXPENSE):        
Other income 20 21 2,255 1,345
Interest expense (6,141) (4,990) (12,334) (9,953)
Dividends declared on Series A and Series D cumulative term preferred stock (755) (458) (1,559) (916)
Loss on dispositions of real estate assets, net (1,042) (567) (1,840) (666)
Property and casualty recovery, net 0 0 0 66
(Loss) income from investments in unconsolidated entities     (24) 26
Total other expense, net (7,929) (6,002) (13,502) (10,098)
NET (LOSS) INCOME (531) 182 23 3,283
Net loss (income) attributable to non-controlling interests 1 2 0 (39)
NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY (530) 184 23 3,244
Dividends declared on Series B and Series C cumulative redeemable preferred stock (2,939) (2,262) (5,702) (4,388)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (3,469) $ (2,078) $ (5,679) $ (1,144)
LOSS PER COMMON SHARE:        
Basic (in dollars per share) $ (0.12) $ (0.10) $ (0.20) $ (0.05)
Diluted (in dollars per share) $ (0.12) $ (0.10) $ (0.20) $ (0.05)
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic (in shares) 29,360,515 21,418,455 28,124,440 21,340,268
Diluted (in shares) 29,360,515 21,418,455 28,124,440 21,340,268
COMPREHENSIVE INCOME:        
Net (loss) income attributable to the Company $ (530) $ 184 $ 23 $ 3,244
Change in fair value related to interest rate hedging instruments (1,211) (169) 156 (1,426)
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY $ (1,741) $ 15 $ 179 $ 1,818