Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.5.0.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating revenues        
Rental revenue $ 20,890 $ 20,012 $ 41,547 $ 39,300
Tenant recovery revenue 357 394 842 718
Interest income from mortgage note receivable 0 282 385 549
Total operating revenues 21,247 20,688 42,774 40,567
Operating expenses        
Depreciation and amortization 9,205 8,947 18,338 17,154
Property operating expenses 1,434 1,178 3,045 2,139
Acquisition related expenses 117 255 126 451
Base management fee [1] 856 866 1,717 1,717
Incentive fee [1] 655 1,760 1,273 3,433
Administration fee [1] 370 366 775 728
General and administrative 609 539 1,184 1,229
Impairment charge 187 0 230 0
Total operating expenses before credit to incentive fee 13,433 13,911 26,688 26,851
Credit to incentive fee [1] 0 (1,316)   (2,500)
Total operating expenses 13,433 12,595 26,688 24,351
Other (expense) income        
Interest expense (6,579) (6,999) (13,310) (13,770)
Distributions attributable to Series C mandatorily redeemable preferred stock 686 686 1,372 1,372
Other income 334 23 334 51
Total other expense (6,931) (7,662) (14,348) (15,091)
Net income 883 431 1,738 1,125
Distributions attributable to Series A, B and D preferred stock (1,263) (1,023) (2,290) (2,047)
Distributions attributable to senior common stock (251) (261) (504) (485)
Net loss attributable to common stockholders $ (631) $ (853) $ (1,056) $ (1,407)
Loss per weighted average share of common stock - basic & diluted        
Loss per weighted average share of common stock - basic & diluted Loss attributable to common shareholders $ (0.03) $ (0.04) $ (0.05) $ (0.07)
Weighted average shares of common stock outstanding        
Basic (in shares) 22,684,391 20,833,787 22,614,838 20,524,101
Diluted (in shares) 22,684,391 20,833,787 22,614,838 20,524,101
Earnings per weighted average share of senior common stock (in dollars per share) $ 0.26 $ 0.26 $ 0.52 $ 0.52
Weighted average shares of senior common stock outstanding - basic (in shares) 959,552 995,852 961,794 928,323
[1] Refer to Note 2 “Related-Party Transactions”