MONMOUTH REAL ESTATE INVESTMENT CORPORATION MNR Income Statement

Monmouth real estate investment corporation (MNR)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Jun'10
Rental Revenue
136,957	134,777	132,524	128,983	125,112	120,788	115,864	111,926	107,070	102,071	97,660	93,418	89,808	85,808	81,592	77,633	74,099	70,694	67,059	63,364	59,492	57,371	55,512	53,160	51,488	49,141	46,880	45,994	44,972	43,925	43,273	42,059	41,478	40,927	40,234	39,641	0	0	0
Reimbursement Revenue
28,370	27,223	25,998	23,708	22,843	23,130	23,298	23,904	22,633	20,596	18,725	18,095	17,210	16,869	16,163	12,274	12,366	11,663	10,716	10,769	9,709	9,317	9,160	9,005	8,991	8,298	7,726	7,213	6,725	7,033	7,094	7,247	7,342	7,414	7,906	8,142	0	0	0
Lease Termination Income
-	-	-	-0	-	-	210	210	210	210	0	0	0	0	-	-	-	-	238	238	1,421	1,421	1,182	1,182	0	0	690	690	690	3,913	3,222	3,222	0	0	-	0	-	-	-
TOTAL INCOME
165,327	162,000	158,522	152,692	147,956	143,919	139,372	136,041	129,914	122,878	116,385	111,514	107,019	102,677	97,755	89,907	86,465	82,357	78,014	74,373	70,623	68,110	65,855	63,348	60,479	57,440	55,297	53,898	52,388	54,871	53,591	52,529	52,043	48,342	48,141	47,783	0	0	0
EXPENSES:
Real Estate Taxes
22,574	21,708	20,711	18,314	17,710	18,049	18,596	19,563	18,595	16,945	15,267	14,892	14,005	13,829	13,294	9,474	9,469	8,745	8,362	8,548	7,916	7,737	7,605	7,477	7,212	6,558	5,864	5,316	4,931	5,489	5,750	6,219	6,698	6,813	7,211	7,413	0	0	0
Operating Expenses
6,910	6,949	6,616	6,608	6,418	6,221	5,794	5,622	5,216	5,028	4,887	4,593	4,521	4,337	4,273	4,359	4,460	4,357	4,127	4,082	3,864	3,994	3,711	3,599	3,693	3,531	3,363	3,367	3,330	2,968	3,081	2,788	2,429	2,435	2,424	2,363	0	0	0
General & Administrative Expenses
9,672	9,528	9,081	9,142	8,679	8,645	8,776	8,554	8,453	8,313	7,809	8,144	7,899	8,042	7,936	6,990	7,055	6,401	6,305	6,170	6,069	5,830	5,709	5,316	5,217	4,833	4,982	5,172	4,917	4,899	4,644	3,959	3,727	3,754	3,880	4,334	0	0	0
Acquisition Costs
-	-	-	-	-	-	-	-	-	-	179	363	498	763	730	788	1,094	1,300	1,546	1,322	881	410	481	517	591	591	514	506	487	749	667	640	585	326	425	578	0	0	0
Non-recurring Severance Expense
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-
Depreciation
44,694	43,975	43,020	41,739	40,068	38,170	36,176	34,689	32,845	31,126	29,635	28,026	26,805	25,452	24,055	22,814	21,816	20,816	19,705	18,498	17,390	16,579	15,908	15,060	14,263	13,556	12,864	12,582	12,205	11,747	11,392	11,004	10,764	10,509	10,274	10,005	0	0	0
Amortization of Capitalized Lease Costs and Intangible Assets
2,967	2,921	2,870	2,793	2,686	2,554	2,391	2,238	2,076	1,915	1,825	1,941	1,935	1,993	2,032	1,988	2,035	2,078	2,067	1,962	1,921	1,843	1,810	1,912	1,942	1,968	2,018	1,909	1,842	0	-	0	0	-	-	-	-	-	-
TOTAL EXPENSES
87,603	85,867	82,298	78,599	75,564	73,642	71,733	70,668	67,187	63,330	59,602	57,961	55,666	54,418	52,322	46,415	45,931	43,698	42,114	40,585	38,044	36,395	35,228	33,885	32,920	31,040	29,609	29,333	29,203	29,120	28,310	26,770	25,406	25,080	25,888	26,468	0	0	0
OTHER INCOME (EXPENSE):
Dividend Income
13,927	14,038	15,168	15,309	15,251	14,624	13,121	11,679	9,950	8,502	6,930	6,196	5,783	5,723	5,616	4,903	4,289	3,873	3,723	3,876	3,945	3,979	3,882	3,791	3,693	3,701	3,885	3,755	3,644	3,532	3,358	3,445	3,454	3,323	3,100	2,909	0	0	0
Amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,773	0	0	0
Gain on Sale of Securities Transactions
-	-	-	-0	-	-	111	129	1,617	1,606	2,312	5,533	4,317	5,196	4,398	1,587	1,315	436	805	1,060	1,967	2,393	2,166	1,640	1,795	5,173	7,133	7,342	6,959	5,366	6,044	5,824	6,427	5,218	5,238	5,763	0	0	0
Unrealized Holding Gains (Losses) Arising During the Periods
84,331	-14,312	24,680	38,668	27,059	42,627	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense, including Amortization of Financing Costs
36,567	37,115	36,912	36,589	35,593	33,950	32,350	30,558	28,414	26,996	25,754	25,081	24,751	23,769	22,953	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,303	16,667	16,359	16,104	15,704	15,299	14,956	14,956	15,393	15,437	15,374	15,352	15,056	14,952	14,889	14,870	15,026	0	0	0
Amortization of Financing Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	798	783	749	725	685	651	635	647	692	643	0	-	0	0	-	-	-	-	-	-
TOTAL OTHER INCOME (EXPENSE)
-106,971	-8,765	-46,424	-59,947	-47,400	-61,941	-19,118	-18,749	-16,846	-16,888	-16,512	-13,351	-14,650	-12,849	-12,938	-16,023	-16,121	-16,558	-15,314	-13,165	-11,538	-10,735	-10,781	-10,957	-10,461	-6,716	-4,584	-4,484	-5,052	-6,658	-6,580	-7,182	-6,271	-7,433	-6,989	-6,353	0	0	0
INCOME FROM OPERATIONS
-	-	-	14,145	-	-	48,521	46,623	45,879	42,659	40,271	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	21,103	20,080	18,131	19,092	18,699	18,576	20,365	15,827	15,263	0	0	0	-
Gain on Sale of Real Estate Investments
-	-	-	0	-	-	7,485	7,484	5,387	5,387	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	291	275	276	-67	-15	-42	30	142	154	0	0	0	-
NET INCOME
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Less: Net Income Attributable to Noncontrolling Interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
NET INCOME (LOSS)
-29,247	67,368	29,800	14,145	27,088	10,432	56,006	54,108	51,267	48,047	40,271	40,201	36,702	35,409	32,494	32,489	29,434	27,120	25,605	20,622	21,040	20,978	19,845	18,505	17,092	19,978	21,395	20,356	18,408	19,025	18,684	0	0	0	-	-	0	0	0
Less: Preferred Dividends
22,734	20,450	18,774	17,026	17,527	17,295	17,191	7,853	16,147	15,481	14,862	13,890	11,996	10,566	9,020	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	8,607	7,777	6,645	5,513	4,381	4,079	4,079	4,079	3,689	0	0	0
Less: Redemption of Preferred Stock
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS
-51,981	46,918	11,026	-3,882	9,561	-6,862	38,815	37,759	32,653	30,099	22,942	20,901	21,763	21,901	20,531	23,882	20,827	18,513	16,998	12,015	12,433	12,371	11,238	9,898	8,485	11,371	12,788	11,749	10,631	12,379	13,171	14,200	16,364	11,918	11,338	11,369	0	0	0
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