Quarterly Historical Data

Period Ended
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Balance Sheet (in thousands)
Real Estate 126,385 126,242 126,558 109,041 108,687 108,247 95,962 94,224 70,357 61,335 60,900 47,916 24,216
Real Estate (Less Accumulated Depreciation) 117,631 118,494 119,741 103,100 103,292 103,588 92,292 91,488 68,398 59,967 60,088 47,586 24,095
Secured Debt 85,740 75,740 86,291 86,830 74,948 75,425 75,868 68,330 68,720 52,675 46,263 46,538 35,168 17,368
Total Debt 85,740 85,750 86,291 86,860 74,948 75,425 75,868 68,341 68,720 52,675 46,263 46,538 35,168 17,368
Total Liabilities 94,216 94,998 97,291 84,212 84,435 85,290 76,226 76,609 58,200 51,589 52,072 40,322 19,530
Equity (Attributable to Common Shares) 34,560 34,851 35,281 35,806 36,390 36,949 33,550 23,678 24,249 24,650 24,751 9,761 10,938
Equity (Attributable to Partnership Units) 16,897 17,354 17,878 18,444 19,045 19,639 17,124 16,937 17,592 18,115 18,372 18,844 8,756
Total Equity 51,457 52,205 53,159 54,250 55,435 56,588 50,674 40,615 41,841 42,765 43,123 28,605 19,694
Total Assets 145,673 147,203 150,450 138,462 139,870 141,878 126,900 117,224 100,041 94,354 95,195 68,927 39,225
Income Statement (in thousands)
Rental Revenue 14,269 9,294 4,397 18,213 13,176 8,472 4,163 10,040 6,972 4,432 2,011 1,560 736
Interest Expense 2,797 1,819 853 3,259 2,400 1,543 746 2,122 1,474 936 441 425 180
Total Revenue 14,342 9,339 4,424 18,331 13,265 8,533 4,166 10,061 6,989 4,443 2,015 1,567 736
Net Income (934) (783) (448) (2,630) (2,038) (1,464) (680) (2,525) (1,757) (1,288) (1,370) (3,173) (1,098)
Net Income (Attributable to Common Shares) (597) (499) (285) (1,650) (1,273) (909) (411) (1,409) (973) (704) (721) (1,916) (780)
Net Income (Attributable to Partnership Units) (337) (284) (163) (980) (765) (555) (269) (1,116) (784) (584) (649) (1,257) (318)
FFO 4,783 3,116 1,434 7,124 4,920 3,134 1,552 3,357 2,217 1,224 (201) (1,941) (753)
Modified FFO 4,783 3,116 1,434 7,124 4,920 3,134 1,552 4,035 2,896 1,901 477 351 255
Total Expenses 15,277 10,123 4,871 20,960 15,302 9,997 4,846 12,585 8,746 5,730 3,385 4,739 1,834
Key Metrics (in thousands)
FFO Payout (%) 70.03% 71.41% 77.33% 57.21% 61.41% 62.98% 60.17% 88.61% 100.35% 120.86% (366.75)% (45.14)% (61.84)%
FFO/Total Revenue (%) 33.52% 33.53% 32.61% 38.86% 37.09% 36.73% 37.27% 31.72% 31.72% 27.54% (9.97)% (123.91)% (102.37)%
Total Debt/Gross Real Estate (%) 67.84% 68.35% 68.63% 68.73% 69.40% 70.09% 71.22% 72.93% 74.87% 75.43% 76.42% 73.40% 71.72%
Per Share Information ($)
FFO/Share $0.63 $0.41 $0.19 $1.01 $0.71 $0.47 $0.26 $0.63 $0.42 $0.24 $ (0.04) $ (1.02) $ (0.51)
Modified FFO per Share $0.63 $0.41 $0.19 $1.01 $0.71 $0.47 $0.26 $0.76 $0.55 $0.37 $ 0.10 $ 0.18 $ 0.17
Dividends Declared per Share $0.44203 $0.14730 $0.14734 $0.56375 $0.422811 $0.281874 $0.140937 $0.55 $0.4125 $0.2750 $ 0.1375 $ 0.3375 $ 0.2250
Principal Payments Schedule (in thousands)
Debt Due this Fiscal Year 590 1,173 1,745 - 505 983 1,338 - 354 602 903 - 107
Debt Due during Next Fiscal Year 2,409 2,409 2,409 2,026 2,033 2,033 1,859 1,758 1,407 1,258 1,258 954 537
Debt Due during Second Fiscal Year 29,036 29,036 29,036 2,115 2,115 2,115 1,933 1,865 1,467 1,311 1,311 993 558
Debt Due during Third Fiscal Year 1,670 1,670 1,670 28,729 28,729 28,729 28,537 1,941 1,525 1,362 1,362 1,033 580
Debt Due during Fourth Fiscal Year 5,085 5,085 5,085 1,350 1,350 1,350 1,149 28,512 28,078 27,908 27,908 1,073 601
Debt Due Thereafter 47,425 47,425 47,425 41,166 41,167 41,166 33,995 35,144 20,139 14,090 14,090 31,353 15,129
Shareholder Data YTD Weighted Averages
Common shares/UPREIT Units Outstanding 7,578,454 7,551,679 7,525,970 7,047,029 6,901,752 6,632,832 6,059,844 5,298,534 5,245,888 5,155,390 4,914,811 1,900,496 1,484,526
UPREIT Units Outstanding 2,735,348 2,735,348 2,735,348 2,626,518 2,589,843 2,515,884 2,397,620 2,342,335 2,340,904 2,338,018 2,329,360 752,903 430,082
Common shares Outstanding 4,843,106 4,816,331 4,790,622 4,420,510 4,311,910 4,116,948 3,662,224 2,956,198 2,904,984 2,817,372 2,585,451 1,147,593 1,054,444