v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income:    
Rental income $ 38,756 $ 37,349
Other property income 49 118
Total income 38,805 37,467
Expenses:    
Property operating expenses 8,584 7,316
Real estate tax expense 4,504 4,783
General and administrative expenses 1,924 1,544
Business management fee 2,242 2,255
Depreciation and amortization 14,465 14,559
Total expenses 31,719 30,457
Other Income (Expense):    
Interest expense (9,727) (10,430)
Interest and other income 40 82
Net loss $ (2,601) $ (3,338)
Net loss per common share, basic $ (0.07) $ (0.09)
Net loss per common share, diluted $ (0.07) $ (0.09)
Weighted average number of common shares outstanding, basic 36,104,130 36,151,697
Weighted average number of common shares outstanding, diluted 36,104,130 36,151,697
Comprehensive (loss) income:    
Net Income (Loss) $ (2,601) $ (3,338)
Unrealized (loss) gain on derivatives (2,497) 10,066
Reclassification adjustment for amounts included in net loss (2,900) (4,337)
Comprehensive (loss) income $ (7,998) $ 2,391