| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 |
|---|---|---|---|---|---|---|---|---|---|
Revenues | |||||||||
Income from direct financing and sales-type leases | |||||||||
224,252 | 218,905 | 206,001 | 201,549 | 195,750 | 187,271 | 189,938 | 182,319 | 182,036 | 150,171 |
Income from operating leases | |||||||||
10,913 | 10,913 | 10,913 | 10,914 | 10,913 | 11,345 | 12,209 | 12,209 | 12,209 | 11,529 |
Income from lease financing receivables and loans | |||||||||
12,843 | - | - | - | 0 | - | - | - | - | - |
Tenant reimbursements and other income | |||||||||
693 | - | - | - | 0 | - | - | - | - | - |
Tenant reimbursement of property taxes | |||||||||
- | - | 0 | 0 | - | 19,918 | 25,147 | 18,932 | 17,243 | 19,558 |
Revenues | |||||||||
255,001 | 237,537 | 222,513 | 220,746 | 214,002 | 226,039 | 232,687 | 220,975 | 218,276 | 187,609 |
Operating expenses | |||||||||
General and administrative | |||||||||
7,015 | 5,109 | 6,717 | 6,518 | 6,225 | 4,283 | 5,678 | 7,160 | 7,308 | 9,939 |
Depreciation | |||||||||
867 | 883 | 1,000 | 1,018 | 930 | 929 | 929 | 922 | 906 | 751 |
Tenant reimbursements and other expenses | |||||||||
703 | - | - | - | 0 | - | - | - | - | - |
Property taxes | |||||||||
- | - | 0 | 0 | - | 20,212 | 25,423 | 18,932 | 17,243 | 19,558 |
Golf operations | |||||||||
4,370 | 4,538 | 5,423 | 4,848 | 4,092 | 4,540 | 4,223 | 4,513 | 4,095 | 4,126 |
Change in allowance for credit losses | |||||||||
149,500 | - | - | - | 0 | - | - | - | - | - |
Loss on impairment | |||||||||
- | - | 0 | - | - | - | 12,334 | - | - | 0 |
Transaction and acquisition expenses | |||||||||
4,517 | 249 | 993 | 2,867 | 889 | - | 0 | - | 0 | 9,039 |
Total operating expenses | |||||||||
166,980 | 10,779 | 14,133 | 15,251 | 12,136 | 30,357 | 48,587 | 31,527 | 29,552 | 43,413 |
Direct | |||||||||
Operating income | |||||||||
88,021 | 226,758 | 208,380 | 205,495 | 201,866 | 195,682 | 184,100 | 189,448 | 188,724 | 144,196 |
Interest expense | |||||||||
76,093 | 71,448 | 68,531 | 54,819 | 53,586 | 54,297 | 54,051 | 51,440 | 52,875 | 63,354 |
Interest income | |||||||||
5,520 | 4,153 | 6,690 | 4,004 | 5,167 | 3,803 | 2,027 | 3,799 | 1,678 | 282 |
Loss from extinguishment of debt | |||||||||
-39,059 | -58,143 | 0 | 0 | 0 | 0 | 0 | 0 | -23,040 | -38,488 |
(Loss) income before income taxes | |||||||||
-21,611 | 101,320 | 146,539 | 154,680 | 153,447 | 145,188 | 132,076 | 141,807 | 114,487 | 42,636 |
Income tax expense | |||||||||
454 | 607 | 24 | 553 | 521 | 557 | 52 | 448 | 384 | -1,901 |
Net (loss) income | |||||||||
-22,065 | 100,713 | 146,515 | 154,127 | 152,926 | 144,631 | 132,024 | 141,359 | 114,103 | 44,537 |
Less: Net income attributable to non-controlling interest | |||||||||
1,947 | 2,082 | 2,080 | 2,078 | 2,077 | 2,090 | 2,112 | 2,315 | 1,981 | 1,875 |
Net (loss) income attributable to common stockholders | |||||||||
-24,012 | 98,631 | 144,435 | 152,049 | 150,849 | 142,541 | 129,912 | 139,044 | 112,122 | 42,662 |
Net (loss) income per common share | |||||||||
Earnings Per Share [Abstract] | |||||||||
Basic (in dollars per share) | |||||||||
-0.05 | 0.20 | 0.31 | 0.37 | 0.37 | 0.37 | 0.35 | 0.38 | 0.33 | 0.19 |
Diluted (in dollars per share) | |||||||||
-0.05 | 0.19 | 0.31 | 0.37 | 0.37 | 0.37 | 0.35 | 0.38 | 0.33 | 0.19 |
Dividends declared per common share (in dollars per share) | |||||||||
- | - | - | - | - | - | - | 0.26 | 0.16 | - |
Weighted average number of shares of common stock outstanding | |||||||||
Basic (in shares) | |||||||||
465,177 | 461,574 | 460,666 | 412,310 | 405,734 | 386,135 | 369,935 | 369,933 | 342,901 | 227,829 |
Diluted (in shares) | |||||||||
465,177 | 471,984 | 465,772 | 412,821 | 406,035 | 386,092 | 370,127 | 369,992 | 343,057 | 227,985 |
Other comprehensive income | |||||||||
Net (loss) income attributable to common stockholders | |||||||||
-24,012 | 98,631 | 144,435 | 152,049 | 150,849 | 142,541 | 129,912 | 139,044 | 112,122 | 42,662 |
Unrealized loss on cash flow hedges | |||||||||
-53,138 | 12,038 | -7,113 | -30,688 | -17,191 | -27,589 | 10,105 | -4,640 | 0 | 0 |
Comprehensive (loss) income attributable to common stockholders | |||||||||
-77,150 | 110,669 | 137,322 | 121,361 | 133,658 | 114,952 | 140,017 | 134,404 | 112,122 | 42,662 |
Golf operations | |||||||||
Revenues | |||||||||
6,300 | 7,719 | 5,599 | 8,283 | 7,339 | 7,505 | 5,393 | 7,515 | 6,788 | 6,351 |