CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Apr. 30, 2019 |
Apr. 30, 2018 |
Apr. 30, 2019 |
Apr. 30, 2018 |
|
| Revenue: | ||||
| Rental income | $ 13,325 | $ 12,781 | $ 26,486 | $ 25,171 |
| Reimbursements | 1,337 | 1,411 | 2,995 | 2,987 |
| Sundry income | 124 | 133 | 233 | 361 |
| Total revenue | 14,786 | 14,325 | 29,714 | 28,519 |
| Expenses: | ||||
| Operating expenses | 4,571 | 4,208 | 8,438 | 8,350 |
| Management fees | 648 | 649 | 1,285 | 1,260 |
| Real estate taxes | 2,371 | 897 | 4,801 | 3,450 |
| Depreciation | 2,783 | 2,801 | 5,607 | 5,512 |
| Total expenses | 10,373 | 8,555 | 20,131 | 18,572 |
| Operating income | 4,413 | 5,770 | 9,583 | 9,947 |
| Investment income | 113 | 57 | 184 | 112 |
| Unrealized (loss) gain on interest rate cap contract | (5) | 19 | (159) | 19 |
| Gain on sale of property | 836 | 836 | ||
| Interest expense including amortization of deferred financing costs | (4,527) | (4,419) | (9,179) | (9,571) |
| Net income | 830 | 1,427 | 1,265 | 507 |
| Net (income) loss attributable to noncontrolling interests in subsidiaries | (44) | (312) | (20) | 251 |
| Net income attributable to common equity | $ 786 | $ 1,115 | $ 1,245 | $ 758 |
| Earnings per share - basic and diluted | $ 0.11 | $ 0.16 | $ 0.18 | $ 0.11 |
| Weighted average shares outstanding: | ||||
| Basic and Diluted | 6,932 | 6,876 | 6,923 | 6,869 |