| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
REVENUE: | |||||||||
Rental and other property revenue | |||||||||
202,620 | 190,712 | 160,497 | 137,416 | 98,216 | 44,834 | 17,843 | 14,849 | 7,716 | 0 |
Property management and other income | |||||||||
- | - | - | 29 | - | - | - | - | - | - |
Total revenue | |||||||||
203,223 | 191,232 | 161,216 | 153,388 | 109,576 | 49,171 | 19,943 | 16,629 | 8,668 | 5 |
EXPENSES: | |||||||||
Property operating expenses | |||||||||
79,568 | 76,363 | 64,716 | 63,148 | 46,281 | 21,636 | 9,429 | 8,066 | 4,477 | 0 |
Property management expenses | |||||||||
7,726 | 6,963 | 6,006 | 4,847 | 3,674 | 1,759 | - | - | - | - |
General and administrative expenses | |||||||||
12,745 | 10,817 | 9,526 | 10,864 | 7,790 | 1,137 | 648 | 968 | 566 | 0 |
Asset management fees | |||||||||
- | - | - | - | - | 1,736 | 272 | 240 | 9 | - |
Acquisition and integration expenses | |||||||||
- | - | 1,342 | 43 | 13,555 | 1,842 | 248 | 157 | 488 | 0 |
Depreciation and amortization expense | |||||||||
52,815 | 45,221 | 34,201 | 34,824 | 28,094 | 12,520 | 4,413 | 3,466 | 1,771 | 0 |
Casualty related costs | |||||||||
- | 46 | - | - | - | - | - | - | - | - |
Total expenses | |||||||||
152,854 | 139,410 | 115,791 | 113,726 | 99,394 | 40,630 | 15,010 | 12,897 | 7,311 | 0 |
Operating income | |||||||||
- | - | - | 39,662 | 10,182 | 8,541 | 4,933 | 3,732 | 1,357 | 5 |
Interest expense | |||||||||
39,226 | 36,006 | 28,702 | 35,535 | 23,553 | 8,496 | 3,659 | 3,305 | 1,727 | 0 |
Other income (expense) | |||||||||
- | 144 | 89 | -4 | 19 | 17 | - | 0 | - | - |
Net gains (losses) on sale of assets | |||||||||
35,211 | 10,650 | 18,825 | 31,776 | 6,412 | - | - | 0 | - | - |
TSRE financing extinguishment and employee separation expenses | |||||||||
- | - | - | - | 27,508 | - | - | - | - | - |
Gain (loss) on extinguishment of debt | |||||||||
- | - | -572 | -1,210 | - | - | - | - | - | - |
Acquisition related debt extinguishment expenses | |||||||||
- | - | 3,624 | - | - | - | - | - | - | - |
Management internalization expense | |||||||||
- | - | - | 44,976 | - | - | - | - | - | - |
Gains (losses) on TSRE merger and property acquisitions | |||||||||
- | - | - | 732 | 64,604 | 2,882 | - | - | - | - |
Income (loss) before taxes | |||||||||
- | - | - | - | - | - | - | - | - | 5 |
Income tax provision | |||||||||
- | - | - | - | - | - | - | - | - | 1 |
Net income (loss): | |||||||||
46,354 | 26,610 | 31,441 | -9,555 | 30,156 | 2,944 | 1,274 | 427 | -370 | 4 |
(Income) loss allocated to preferred shares | |||||||||
- | - | - | - | - | - | 10 | 15 | 0 | 0 |
Income allocated to noncontrolling interest | |||||||||
458 | 322 | 1,235 | 246 | 1,914 | 4 | 649 | 535 | -258 | 0 |
Net income allocable to common shares | |||||||||
45,896 | 26,288 | 30,206 | -9,801 | 28,242 | 2,940 | 615 | -123 | -112 | 4 |
Earnings per share: | |||||||||
Basic | |||||||||
0.51 | 0.30 | 0.41 | -0.19 | 0.78 | 0.14 | 0.12 | -0.45 | -5.60 | 0.20 |
Diluted | |||||||||
0.51 | 0.30 | 0.41 | -0.19 | 0.78 | 0.14 | 0.12 | -0.45 | -5.60 | 0.20 |
Weighted-average shares: | |||||||||
Basic | |||||||||
89,799 | 87,086 | 73,338 | 52,182 | 36,153 | 21,315 | 5,330 | 275 | 20 | 20 |
Diluted | |||||||||
90,417 | 87,376 | 73,599 | 52,182 | 36,160 | 21,532 | 5,330 | 275 | 20 | 20 |
Dividends declared per common share | |||||||||
- | - | - | - | - | - | - | - | 0.30 | 0.00 |
Tenant reimbursement income | |||||||||
Revenue | |||||||||
- | - | - | 5,587 | 4,401 | 1,924 | 943 | 818 | 441 | 0 |
Other property income | |||||||||
Revenue | |||||||||
603 | 520 | 719 | 10,356 | 6,959 | 2,413 | 1,157 | 962 | 511 | 5 |