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 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating revenues        
Rental revenue $ 21,205 $ 20,653 $ 62,752 $ 59,953
Tenant recovery revenue 384 437 1,226 1,195
Interest income from mortgage note receivable 0 285 385 835
Total operating revenues 21,589 21,375 64,363 61,983
Operating expenses        
Depreciation and amortization 9,459 9,006 27,796 26,160
Property operating expenses 1,410 1,612 4,455 3,752
Acquisition related expenses 149 138 275 589
Base management fee [1] 1,072 872 2,789 2,589
Incentive fee [1] 564 621 1,837 4,054
Administration fee [1] 311 326 1,086 1,054
General and administrative 421 446 1,607 1,675
Impairment charge 1,786 622 2,016 622
Total operating expenses before credit to incentive fee 15,172 13,643 41,861 40,495
Credit to incentive fee [1] 0 0   (2,500)
Total operating expenses 15,172 13,643 41,861 37,995
Other (expense) income        
Interest expense (6,338) (7,142) (19,648) (20,912)
Distributions attributable to Series C mandatorily redeemable preferred stock 131 686 1,502 2,057
Loss on sale of real estate (24) 0 (24) 0
Other income 3 0 337 11
Total other expense, net (6,490) (7,828) (20,837) (22,958)
Net (loss) income (73) (96) 1,665 1,030
Distributions attributable to Series A, B and D preferred stock (2,002) (1,023) (4,292) (3,070)
Distributions attributable to senior common stock (254) (263) (758) (748)
Net loss attributable to common stockholders $ (2,329) $ (1,382) $ (3,385) $ (2,788)
Loss per weighted average share of common stock - basic & diluted        
Loss attributable to common shareholders - basic and diluted (in dollars per share) $ (0.10) $ (0.06) $ (0.15) $ (0.13)
Weighted average shares of common stock outstanding        
Basic (in shares) 23,509,054 21,403,808 22,915,086 20,820,559
Diluted (in shares) 23,509,054 21,403,808 22,915,086 20,820,559
Earnings per weighted average share of senior common stock (in dollars per share) $ 0.26 $ 0.26 $ 0.79 $ 0.79
Weighted average shares of senior common stock outstanding - basic (in shares) 959,552 993,069 961,041 948,347
[1] Refer to Note 2 “Related-Party Transactions”