Revenue during the quarter grew 22.05 percent to $76.99 million from $63.08 million in the previous year period.

Cost of revenue rose 21.90 percent or $9.27 million during the quarter to $51.58 million. Gross margin for the quarter expanded 8 basis points over the previous year period to 33 percent.

Total expenses were $69.88 million for the quarter, up 23.84 percent or $13.45 million from year-ago period. Operating margin for the quarter contracted 131 basis points over the previous year period to 9.24 percent.

Operating income for the quarter was $7.11 million, compared with $6.65 million in the previous year period.

Revenue from real estate activities during the quarter increased 22.19 percent or $9.17 million to $50.48 million.

Income from operating leases during the quarter rose 21.80 percent or $4.74 million to $26.52 million.

Commenting on the Company’s results, Louis Haddad, President and Chief executive officer, said, "While I am pleased to report another quarter and year of bottom-line per share growth, I’m more excited about the value that we’ve delivered to our shareholders this past year and our potential for future growth over the coming years. Our total shareholder return for 2016 was 47 percent, significantly outperforming both the RMS and Russell 2000 indices. And when I look at the quality of assets and locations in our development pipeline, there’s good reason to be optimistic about the future growth potential of our Company."

Total assets jumped 42.48 percent or $292.92 million to $982.47 million on Dec. 31, 2016. On the other hand, total liabilities were at $633.49 million as on Dec. 31, 2016, up 36.58 percent or $169.66 million from year-ago.

Return on assets moved down 73 basis points to 0.99 percent in the quarter. At the same time, return on equity moved down 227 basis points to 1.47 percent in the quarter.