| Quarterly Financial Information (unaudited) |
The following table reflects the quarterly results of operations for the years ended December 31, 2018 and 2017 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended |
|
|
December 31, 2018 |
|
September 30, 2018 |
|
June 30, 2018 |
|
March 31, 2018 |
Operating revenues |
|
$ |
27,261 |
|
|
$ |
26,591 |
|
|
$ |
26,593 |
|
|
$ |
26,353 |
|
Operating expenses |
|
(18,771 |
) |
|
(17,422 |
) |
|
(17,542 |
) |
|
(17,402 |
) |
Other expense, net |
|
(5,973 |
) |
|
(6,492 |
) |
|
(6,526 |
) |
|
(4,346 |
) |
Net income |
|
2,517 |
|
|
2,677 |
|
|
2,525 |
|
|
4,605 |
|
Net (income) loss attributable to OP Units held by Non-controlling OP Unitholders |
|
(4 |
) |
|
— |
|
|
— |
|
|
— |
|
Dividends attributable to preferred and senior common stock |
|
(2,844 |
) |
|
(2,847 |
) |
|
(2,842 |
) |
|
(2,814 |
) |
Net (loss) income (attributable) available to common stockholders |
|
(331 |
) |
|
(170 |
) |
|
(317 |
) |
|
1,791 |
|
Net (loss) income (attributable) available to common stockholders - basic & diluted |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
0.06 |
|
|
|
Quarter ended |
|
|
December 31, 2017 |
|
September 30, 2017 |
|
June 30, 2017 |
|
March 31, 2017 |
Operating revenues |
|
$ |
25,253 |
|
|
$ |
24,365 |
|
|
$ |
22,867 |
|
|
$ |
22,314 |
|
Operating expenses |
|
(20,405 |
) |
|
(15,867 |
) |
|
(14,357 |
) |
|
(17,708 |
) |
Other expense, net |
|
(6,311 |
) |
|
(6,115 |
) |
|
(7,849 |
) |
|
(250 |
) |
Net income |
|
(1,463 |
) |
|
2,383 |
|
|
661 |
|
|
4,356 |
|
Dividends attributable to preferred and senior common stock |
|
(2,802 |
) |
|
(2,767 |
) |
|
(2,686 |
) |
|
(2,621 |
) |
Net (loss) income (attributable) available to common stockholders |
|
$ |
(4,265 |
) |
|
$ |
(384 |
) |
|
$ |
(2,025 |
) |
|
$ |
1,735 |
|
Net (loss) income (attributable) available to common stockholders - basic & diluted |
|
$ |
(0.17 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.08 |
) |
|
$ |
0.07 |
|
|