Monmouth real estate investment corporation (MNR)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Jun'10
Rental Revenue

35,114

34,870

33,846

33,127

32,934

32,617

30,305

29,256

28,610

27,692

26,368

24,400

23,610

23,280

22,126

20,789

19,610

19,064

18,167

17,256

16,205

15,430

14,472

13,383

14,085

13,570

12,120

11,712

11,738

11,309

11,234

10,689

10,691

10,657

10,019

10,109

10,141

9,964

9,426

Reimbursement Revenue

6,594

6,830

8,601

6,345

5,447

5,605

6,311

5,480

5,734

5,772

6,918

4,208

3,697

3,900

6,288

3,324

3,355

3,194

2,399

3,416

2,653

2,247

2,453

2,356

2,260

2,090

2,298

2,342

1,567

1,518

1,785

1,853

1,875

1,579

1,938

1,948

1,947

2,072

2,173

Lease Termination Income

-

-

-

0

-

-

-0

0

0

210

0

0

0

0

-

-

-

-

0

0

0

238

0

1,182

0

0

0

0

0

690

0

0

3,222

0

-

0

-

-

-

TOTAL INCOME

41,708

41,700

42,447

39,472

38,381

38,222

36,617

34,736

34,344

33,674

33,286

28,609

27,308

27,181

28,415

24,113

22,966

22,259

20,567

20,672

18,858

17,916

16,926

16,922

16,345

15,661

14,419

14,054

13,306

13,518

13,019

12,543

15,790

12,237

11,957

12,057

12,088

12,036

11,599

EXPENSES:
Real Estate Taxes

5,029

5,036

7,417

5,092

4,163

4,039

5,020

4,488

4,502

4,585

5,987

3,520

2,851

2,906

5,613

2,633

2,675

2,372

1,792

2,629

1,951

1,988

1,979

1,997

1,771

1,857

1,851

1,731

1,117

1,163

1,303

1,347

1,675

1,424

1,772

1,826

1,790

1,822

1,974

Operating Expenses

1,634

2,197

1,430

1,649

1,673

1,864

1,422

1,459

1,476

1,436

1,251

1,053

1,288

1,294

957

981

1,103

1,231

1,042

1,083

999

1,002

997

865

1,129

719

885

959

967

551

888

922

605

664

595

563

612

653

534

General & Administrative Expenses

2,396

2,264

2,661

2,351

2,252

1,817

2,722

1,888

2,218

1,947

2,501

1,786

2,078

1,442

2,836

1,542

2,221

1,335

1,891

1,606

1,567

1,240

1,755

1,505

1,328

1,120

1,362

1,405

944

1,269

1,552

1,150

926

1,015

867

918

953

1,140

1,321

Acquisition Costs

-

-

-

-

-

-

-

-

-

-

0

0

0

178

184

135

265

145

242

440

471

391

19

0

0

462

54

74

0

385

46

55

261

304

19

0

2

403

173

Non-recurring Severance Expense

0

786

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

965

-

-

-

0

-

-

-

Depreciation

11,475

11,433

10,953

10,833

10,756

10,478

9,672

9,162

8,858

8,483

8,185

7,318

7,139

6,992

6,576

6,096

5,786

5,595

5,336

5,099

4,785

4,484

4,129

3,991

3,975

3,813

3,281

3,193

3,268

3,121

2,999

2,816

2,810

2,766

2,611

2,576

2,556

2,531

2,342

Amortization of Capitalized Lease Costs and Intangible Assets

767

753

726

721

721

702

649

614

589

538

497

451

427

447

614

445

486

486

569

492

529

475

464

451

451

443

566

480

477

492

-

458

413

-

-

-

-

-

-

TOTAL EXPENSES

21,301

22,469

23,187

20,646

19,565

18,900

19,488

17,611

17,643

16,990

18,423

14,130

13,785

13,262

16,782

11,835

12,537

11,167

10,875

11,351

10,305

9,582

9,345

8,810

8,656

8,416

8,002

7,846

6,775

6,984

7,727

7,715

6,692

6,175

6,186

6,351

6,366

6,983

6,766

OTHER INCOME (EXPENSE):
Dividend Income

3,404

3,238

3,599

3,686

3,515

4,368

3,740

3,628

2,888

2,864

2,299

1,899

1,439

1,292

1,565

1,486

1,379

1,184

852

872

962

1,035

1,005

941

996

938

913

844

1,004

1,123

783

732

892

949

870

742

760

726

679

Amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

628

-

467

452

432

420

Gain on Sale of Securities Transactions

-

-

-

0

-

-

-0

0

11

100

18

1,487

0

806

3,239

272

878

8

428

0

0

377

683

907

425

150

157

1,062

3,802

2,110

366

680

2,209

2,788

146

1,282

1,000

2,808

672

Unrealized Holding Gains (Losses) Arising During the Periods

83,075

3,635

-13,988

11,609

-15,568

42,627

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest Expense, including Amortization of Financing Costs

9,050

9,209

9,033

9,275

9,598

9,006

8,710

8,279

7,955

7,405

6,918

6,135

6,537

6,163

6,245

5,805

5,555

5,346

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,805

4,493

4,129

3,874

4,170

4,185

3,875

3,473

3,764

3,842

3,875

3,909

3,809

3,779

3,853

3,613

3,704

3,717

3,834

3,769

Amortization of Financing Costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

212

203

192

190

197

168

169

149

164

152

180

-

195

115

-

-

-

-

-

-

TOTAL OTHER INCOME (EXPENSE)

-88,721

-9,606

8,554

-17,198

9,485

-47,265

-4,969

-4,651

-5,056

-4,441

-4,600

-2,748

-5,098

-4,064

-1,440

-4,047

-3,296

-4,153

-4,525

-4,145

-3,734

-2,909

-2,375

-2,518

-2,931

-2,954

-2,552

-2,022

812

-822

-2,451

-2,591

-793

-744

-3,053

-1,679

-1,956

-300

-2,417

INCOME FROM OPERATIONS

-

-

-

1,628

-

-

12,159

12,474

11,645

12,242

10,262

11,730

8,424

9,853

-

-

-

-

-

-

-

-

-

-

-

-

3,864

4,185

7,343

5,710

2,841

2,236

8,304

5,317

2,717

4,026

3,766

4,753

-

Gain on Sale of Real Estate Investments

-

-

-

0

-

-

0

2,097

0

5,387

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from Discontinued Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-4

300

-4

-15

-3

-44

48

-42

69

67

61

-

NET INCOME

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,095

3,833

4,814

2,415

Less: Net Income Attributable to Noncontrolling Interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18

28

52

NET INCOME (LOSS)

-68,314

9,625

27,814

1,628

28,301

-27,943

12,159

14,571

11,645

17,630

10,262

11,730

8,424

9,853

10,192

8,231

7,131

6,938

10,187

5,175

4,818

5,423

5,204

5,593

4,757

4,290

3,864

4,180

7,643

5,706

2,825

2,233

8,260

5,366

-

-

3,814

4,786

2,363

Less: Preferred Dividends

6,764

6,097

14,622

-4,749

4,480

4,421

12,874

-4,248

4,248

4,316

3,536

4,045

3,582

3,697

2,565

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

2,151

1,321

1,019

1,019

1,019

1,019

1,019

1,019

630

Less: Redemption of Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

2,467

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS

-75,078

3,528

22,690

-3,121

23,821

-32,364

7,781

10,323

7,397

13,313

6,725

5,217

4,842

6,156

4,685

6,079

4,980

4,786

8,035

3,024

2,666

3,271

3,052

3,441

2,605

2,138

1,712

2,028

5,492

3,554

673

911

7,240

4,346

1,702

3,075

2,794

3,766

1,733

BASIC INCOME (LOSS) – PER SHARE
Income from Continuing Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.08

0.10

0.17

0.14

0.06

0.06

0.21

0.14

0.07

0.12

0.11

0.14

-

Income from Discontinued Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.01

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

-

Net Income (Loss)

-0.70

0.10

0.31

0.02

0.30

-0.31

0.15

0.18

0.15

0.23

0.14

0.16

0.12

0.14

0.16

0.12

0.11

0.11

0.17

0.08

0.08

0.10

0.09

0.11

0.10

0.10

0.08

0.10

0.18

0.14

0.06

0.06

0.21

0.14

0.07

0.12

0.11

0.14

0.07

Less: Net Income Attributable to Noncontrolling Interests (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

Net Income Attributable to MREIC's Shareholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.11

0.14

0.07

Less: Preferred Dividends

-0.07

-0.06

-0.16

0.05

-0.04

-0.05

-0.38

0.05

0.05

0.06

-0.17

0.06

-0.05

-0.05

0.23

-0.03

-0.03

-0.03

-

-

-

-

-0.03

-0.04

-0.05

-0.05

-0.05

-0.05

-0.05

-0.05

-0.05

-0.04

-0.03

-0.02

-0.21

0.03

0.03

0.03

-0.02

Less: Redemption of Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

0.03

-

-

-

0.00

-

-

0.11

-0.03

-0.04

-0.04

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Common Shareholders - Basic

-0.77

0.04

0.25

-0.03

0.26

-0.36

0.09

0.13

0.10

0.17

0.09

0.07

0.07

0.09

0.06

0.09

0.08

0.08

0.14

0.05

0.04

0.06

0.06

0.07

0.05

0.05

0.03

0.05

0.13

0.09

0.01

0.02

0.18

0.12

0.04

0.09

0.08

0.11

0.05

DILUTED INCOME (LOSS) – PER SHARE
Income from Continuing Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.08

0.10

0.17

0.14

0.06

0.06

0.21

0.14

0.07

0.12

0.11

0.14

-

Income from Discontinued Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.01

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

-

Net Income (Loss)

-0.70

0.10

0.31

0.02

0.30

-0.31

0.15

0.18

0.15

0.23

0.14

0.16

0.12

0.14

0.16

0.12

0.11

0.11

0.17

0.08

0.08

0.10

0.09

0.11

0.10

0.10

0.08

0.10

0.18

0.14

0.06

0.06

0.21

0.14

0.07

0.12

0.11

0.14

0.07

Less: Preferred Dividends

-0.07

-0.06

-0.06

-0.05

-0.04

-0.05

-0.06

-0.05

-0.05

-0.06

-0.05

-0.06

-0.05

-0.05

-0.05

-0.03

-0.03

-0.03

-

-

-

-

-0.03

-0.04

-0.05

-0.05

-0.05

-0.05

-0.05

-0.05

-0.05

-0.04

-0.03

-0.02

-

-0.03

-

-

-

Less: Redemption of Preferred Stock

-

-

-

-

-

-

-

-

-

-

-

-0.03

-

-

-

0.00

-

-

0.11

-0.03

-0.04

-0.04

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less: Net Income Attributable to Noncontrolling Interests (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

Net Income Attributable to MREIC's Shareholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.11

0.14

0.07

Less: Preferred Dividend (in dollars per share)

-0.07

-0.06

-0.16

0.05

-0.04

-0.05

-0.38

0.05

0.05

0.06

-0.17

0.06

-0.05

-0.05

-

-0.03

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.03

0.03

0.03

-0.02

Net Income (Loss) Attributable to Common Shareholders - Diluted

-0.77

0.04

0.25

-0.03

0.26

-0.36

0.09

0.13

0.10

0.17

0.09

0.07

0.07

0.09

0.06

0.09

0.08

0.08

0.14

0.05

0.04

0.06

0.06

0.07

0.05

0.05

0.03

0.05

0.13

0.09

0.01

0.02

0.18

0.12

0.04

0.09

0.08

0.11

0.05

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands)
Basic

97,864

96

186,080

94,399

92,978

90

80,694

79,414

77,992

76,375

74,644

72,881

71,243

69,686

68,013

66,337

64,657

62,866

61,205

59,539

58,308

57,289

56,677

50,659

46,739

45,243

43,790

42,638

41,770

40,902

41,255

40,111

39,883

37,392

36,207

35,488

34,612

34,024

32,022

Diluted

97,941

97

186,297

94,493

93,059

90

80,893

79,572

78,156

76,586

74,709

73,053

71,406

69,829

68,085

66,462

64,736

62,948

61,258

59,637

58,462

57,445

56,763

50,760

46,845

45,331

43,806

42,822

41,989

41,110

41,422

40,339

40,043

37,472

36,215

35,545

34,670

34,095

32,045