Income Statement


All references to earnings per share are diluted earnings per share.
Financial Highlights
3/31/2017
3/31/2018
6/30/2018
12/31/2018
Revenues ($000)
Interest Income 6,748 6,816 7,007 28,200
Rental Revenue 35,035 34,505 33,930 135,405
Operating RE Revenue 0 0 0 0
Partnership Income 445 631 726 2,864
Property Management Revenue 0 0 0 0
Franchise Fees 0 0 0 0
Nonrecurring Revenue 0 0 0 3,074
Other Noninterest Income 839 489 535 1,966
Revenue 43,067 42,441 42,198 171,509
Expenses ($000)
Interest Expense 7,471 7,829 7,655 30,196
Rental Operating Expense 0 0 0 0
Operating RE Expense 0 0 0 0
Real Estate Depreciation & Amortization 9,359 9,444 9,268 37,555
Provision for Loan Losses 0 0 0 0
Advisory Fees 0 0 0 0
Non-Real Estate Depreciation 0 0 0 0
General & Administrative Expense 4,740 4,797 4,716 19,193
Property Acquisition Fees 22 4 6 84
Asset Writedowns 0 0 0 0
Other Nonrecurring Expense 0 0 0 0
Other Expense (38) 8 (38) 87
Expense 21,554 22,082 21,607 87,115
Net Income ($000)
Net Income before Gain on Sale of Real Estate 21,513 20,359 20,591 84,394
Gain on Sale of Real Estate 0 0 48,345 70,682
Total Minority Interest Expense 0 0 0 0
Provision for Taxes 0 0 0 0
Trust Preferred Distributions 0 0 0 0
Net Income before Extra 21,513 20,359 68,936 155,076
Extraordinary Items 0 0 0 0
Net Income 21,513 20,359 68,936 155,076
Net Income Attributable to Noncontrolling Int 0 0 0 95
Net Income Attributable to Parent 21,513 20,359 68,936 154,981
Preferred Dividends 0 0 0 0
Issue Costs of Redeemed Preferred Stock 0 0 0 0
Net Income Avail to Common 21,416 20,271 68,658 154,356
FFO 30,872 30,081 29,581 121,854
Adjusted FFO 28,493 26,989 28,034 110,510
Distributable Income NA NA NA NA
Per Share Information ($)
Diluted EPS after Extraordinary 0.54 0.51 1.73 3.89
FFO/ Share 0.78 0.75 0.75 3.06
AFFO per Share NA NA NA NA
Distributable Income per Share NA NA NA NA
Regular Dividends Paid 0.57 0.57 0.57 2.28
Regular Dividends Declared 0.57 0.57 0.57 2.28
Total Dividends Paid 0.57 0.57 0.57 2.28
Common Dividends Declared per Share 0.57 0.57 0.57 2.28
Avg Diluted Shares Out(actual) 39,612,000 39,454,000 39,765,000 39,839,000
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