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 |
| Revenues: |
|
|
|
|
| Rentals |
$ 161,765
|
$ 159,183
|
$ 484,090
|
$ 473,308
|
| Interest income on loans receivable |
1,042
|
1,764
|
4,326
|
5,216
|
| Earned income from direct financing leases |
660
|
725
|
2,082
|
2,299
|
| Tenant reimbursement income |
3,469
|
3,780
|
10,493
|
11,903
|
| Other income and interest from real estate transactions |
5,572
|
2,973
|
11,600
|
5,920
|
| Total revenues |
172,508
|
168,425
|
512,591
|
498,646
|
| Expenses: |
|
|
|
|
| General and administrative |
15,112
|
12,165
|
40,611
|
36,737
|
| Restructuring charges |
3,264
|
100
|
5,726
|
100
|
| Property costs |
6,916
|
6,496
|
20,854
|
20,317
|
| Real estate acquisition costs |
1,056
|
576
|
2,092
|
2,122
|
| Interest |
47,653
|
54,673
|
149,842
|
168,754
|
| Depreciation and amortization |
65,300
|
64,493
|
194,227
|
195,460
|
| Impairments |
15,407
|
21,027
|
41,396
|
56,998
|
| Total expenses |
154,708
|
159,530
|
454,748
|
480,488
|
| Income from continuing operations before other (expense) income and income tax expense |
17,800
|
8,895
|
57,843
|
18,158
|
| Other (expense) income: |
|
|
|
|
| (Loss) gain on debt extinguishment |
(8,349)
|
342
|
326
|
2,489
|
| Total other (expense) income |
(8,349)
|
342
|
326
|
2,489
|
| Income from continuing operations before income tax expense |
9,451
|
9,237
|
58,169
|
20,647
|
| Income tax expense |
(12)
|
(184)
|
(932)
|
(707)
|
| Income from continuing operations |
9,439
|
9,053
|
57,237
|
19,940
|
| Discontinued operations: |
|
|
|
|
| (Loss) income from discontinued operations |
0
|
(41)
|
0
|
90
|
| Gain on disposition of assets |
0
|
0
|
0
|
590
|
| (Loss) income from discontinued operations |
0
|
(41)
|
0
|
680
|
| Income before gain on disposition of assets |
9,439
|
9,012
|
57,237
|
20,620
|
| Gain on disposition of assets |
17,960
|
5,991
|
39,221
|
66,291
|
| Net income attributable to common stockholders |
$ 27,399
|
$ 15,003
|
$ 96,458
|
$ 86,911
|
| Net income per share of common stock—basic: |
|
|
|
|
| Continuing operations (in USD per share) |
$ 0.06
|
$ 0.03
|
$ 0.21
|
$ 0.20
|
| Discontinued operations (in USD per share) |
0.00
|
0.00
|
0.00
|
0.00
|
| Net income per share attributable to common stockholders—basic (in USD per share) |
0.06
|
0.03
|
0.21
|
0.20
|
| Net income per share of common stock—diluted: |
|
|
|
|
| Continuing operations (in USD per share) |
0.06
|
0.03
|
0.21
|
0.20
|
| Discontinued operations (in USD per share) |
0.00
|
0.00
|
0.00
|
0.00
|
| Net income per share attributable to common stockholders—diluted (in USD per share) |
$ 0.06
|
$ 0.03
|
$ 0.21
|
$ 0.20
|
| Weighted average shares of common stock outstanding: |
|
|
|
|
| Basic (in shares) |
479,554,362
|
440,205,348
|
457,263,526
|
429,387,707
|
| Diluted (in shares) |
480,598,610
|
440,353,965
|
457,301,623
|
429,738,776
|
| Dividends declared per common share issued (in USD per share) |
$ 0.175
|
$ 0.17
|
$ 0.525
|
$ 0.51
|