Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.19.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
OPERATING REVENUES:        
Lease revenues $ 8,362   $ 16,192  
Lease revenues   $ 6,634   $ 13,328
Other operating revenues 0 4,760 0 7,311
Total operating revenues 8,362 11,394 16,192 20,639
OPERATING EXPENSES:        
Depreciation and amortization 2,936 2,242 5,533 4,430
Property operating expenses 586 318 1,403 746
Base management fee 974 754 1,879 1,411
Administration fee 250 275 556 549
General and administrative expenses 469 367 1,018 921
Other operating expenses 0 5,140 0 7,498
Total operating expenses 5,215 9,096 10,389 15,555
Credits to fees from Adviser (974) (174) (1,543) (174)
Total operating expenses, net of credits to fees 4,241 8,922 8,846 15,381
OTHER INCOME (EXPENSE):        
Other income 48 9 874 323
Interest expense (3,543) (2,815) (6,996) (5,646)
Dividends declared on Series A cumulative term preferred stock (458) (458) (916) (916)
Gain (loss) on dispositions of real estate assets, net 13 0 (19) 0
Property and casualty loss, net (7) 0 (7) (129)
Loss on write-down of crop inventory 0 (1,060) 0 (1,060)
Total other expense, net (3,947) (4,324) (7,064) (7,428)
NET INCOME (LOSS) 174 (1,852) 282 (2,170)
Net (income) loss attributable to non-controlling interests (1) 110 (3) 131
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY 173 (1,742) 279 (2,039)
Dividends declared on Series B cumulative redeemable preferred stock (893) (3) (1,494) (3)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (720) $ (1,745) $ (1,215) $ (2,042)
LOSS PER COMMON SHARE:        
Basic and diluted (in dollars per share) $ (0.04) $ (0.11) $ (0.07) $ (0.14)
WEIGHTED-AVERAGE SHARES OF COMMON STOCK OUTSTANDING:        
Basic and diluted (in shares) 18,641,738 15,506,512 18,336,975 14,736,400