Consolidated Statements of Operation - USD ($) $ in Thousands |
3 Months Ended |
Mar. 31, 2019 |
Mar. 31, 2018 |
| Revenues: |
|
|
| Rental income |
$ 104,067
|
|
| Rental income |
|
$ 101,507
|
| Interest income on loans receivable |
986
|
995
|
| Earned income from direct financing leases |
396
|
|
| Earned income from direct financing leases |
|
465
|
| Related party fee income |
6,927
|
0
|
| Other income |
217
|
572
|
| Total revenues |
112,593
|
103,539
|
| Expenses: |
|
|
| General and administrative |
13,181
|
15,290
|
| Property costs (including reimbursable) |
5,154
|
5,551
|
| Real estate acquisition costs |
71
|
47
|
| Interest |
26,611
|
23,053
|
| Depreciation and amortization |
41,349
|
40,694
|
| Impairments |
3,692
|
3,497
|
| Total expenses |
90,058
|
88,132
|
| Other income: |
|
|
| Gain on debt extinguishment |
8,783
|
21,583
|
| Gain on disposition of assets |
8,730
|
1,251
|
| Preferred dividend income from SMTA |
3,750
|
0
|
| Total other income |
21,263
|
22,834
|
| Income from continuing operations before income tax expense |
43,798
|
38,241
|
| Income tax expense |
(220)
|
(163)
|
| Income from continuing operations |
43,578
|
38,078
|
| Loss from discontinued operations |
0
|
(7,360)
|
| Net income |
43,578
|
30,718
|
| Dividends paid to preferred shareholders |
(2,588)
|
(2,588)
|
| Net income attributable to common stockholders/after preferred distributions |
$ 40,990
|
$ 28,130
|
| Net income per share attributable to common stockholders - basic: |
|
|
| Continuing operations (in USD per share) |
$ 0.48
|
$ 0.39
|
| Discontinued operations (in USD per share) |
0.00
|
(0.08)
|
| Net income per share attributable to common stockholders - basic (in USD per share) |
0.48
|
0.31
|
| Net income per share attributable to common stockholders - diluted |
|
|
| Continuing operations (in USD per share) |
0.48
|
0.39
|
| Discontinued operations (in USD per share) |
0.00
|
(0.08)
|
| Net income per share attributable to common stockholders - diluted (in USD per share) |
$ 0.48
|
$ 0.31
|
| Weighted average shares of common stock outstanding: |
|
|
| Basic (in shares) |
85,497,093
|
88,975,391
|
| Diluted (in shares) |
85,504,897
|
89,020,751
|
| Weighted average partnership units outstanding: |
|
|
| Dividends declared per common share/per partnership unit issued (in USD per share) |
$ 0.625
|
$ 0.9
|
| Spirit Realty, L.P. |
|
|
| Revenues: |
|
|
| Rental income |
$ 104,067
|
|
| Rental income |
|
$ 101,507
|
| Interest income on loans receivable |
986
|
995
|
| Earned income from direct financing leases |
396
|
|
| Earned income from direct financing leases |
|
465
|
| Related party fee income |
6,927
|
0
|
| Other income |
217
|
572
|
| Total revenues |
112,593
|
103,539
|
| Expenses: |
|
|
| General and administrative |
13,181
|
15,290
|
| Property costs (including reimbursable) |
5,154
|
5,551
|
| Real estate acquisition costs |
71
|
47
|
| Interest |
26,611
|
23,053
|
| Depreciation and amortization |
41,349
|
40,694
|
| Impairments |
3,692
|
3,497
|
| Total expenses |
90,058
|
88,132
|
| Other income: |
|
|
| Gain on debt extinguishment |
8,783
|
21,583
|
| Gain on disposition of assets |
8,730
|
1,251
|
| Preferred dividend income from SMTA |
3,750
|
0
|
| Total other income |
21,263
|
22,834
|
| Income from continuing operations before income tax expense |
43,798
|
38,241
|
| Income tax expense |
(220)
|
(163)
|
| Income from continuing operations |
43,578
|
38,078
|
| Loss from discontinued operations |
0
|
(7,360)
|
| Net income |
43,578
|
30,718
|
| Dividends paid to preferred shareholders |
(2,588)
|
(2,588)
|
| Net income attributable to common stockholders/after preferred distributions |
40,990
|
28,130
|
| Net income attributable to the general partner |
|
|
| Continuing operations |
380
|
284
|
| Discontinued operations |
0
|
(55)
|
| Net income attributable to the general partner |
380
|
229
|
| Net income attributable to the limited partners |
|
|
| Continuing operations |
43,198
|
37,794
|
| Discontinued operations |
0
|
(7,305)
|
| Net income attributable to the limited partners |
$ 43,198
|
$ 30,489
|
| Net income per partnership unit - basic |
|
|
| Continuing operations (in USD per share) |
$ 0.48
|
$ 0.39
|
| Discontinued operations (in USD per share) |
0.00
|
(0.08)
|
| Net income per partnership unit - basic (in USD per share) |
0.48
|
0.31
|
| Net income per partnership unit - diluted |
|
|
| Continuing operations (in USD per share) |
0.48
|
0.39
|
| Discontinued operations (in USD per share) |
0.00
|
(0.08)
|
| Net income per partnership unit - diluted (in USD per share) |
$ 0.48
|
$ 0.31
|
| Weighted average partnership units outstanding: |
|
|
| Basic (in shares) |
85,497,093
|
88,975,391
|
| Diluted (in shares) |
85,504,897
|
89,020,751
|
| Dividends declared per common share/per partnership unit issued (in USD per share) |
$ 0.6250
|
$ 0.9000
|