Financial Highlights

Period Ended
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
FY 2016
Balance Sheet (in thousands)
Real Estate 160,175 135,532 133,499 109,041 94,224 47,916
Real Estate (Less Accumulated Depreciation) 142,460 121,520 123,712 103,100 91,488 47,586
Secured Debt 98,976 86,483 88,905 74,948 68,720 35,168
Total Debt 98,976 86,483 88,905 74,948 68,720 35,168
Total Liabilities 108,703 96,939 98,404 84,212 76,609 40,322
Equity (Attributable to Common Shares) 50,895 32,557 33,717 35,806 23,678 9,761
Equity (Attributable to Partnership Units) 17,292 16,219 18,207 18,444 16,937 18,844
Total Equity 68,187 48,776 51,924 54,250 40,615 28,605
Total Assets 176,891 145,714 150,328 138,462 117,224 68,927
Income Statement (in thousands)
Rental Revenue 20,784 20,970 19,332 18,213 10,040 1,560
Interest Expense 3,552 3,682 3,798 3,259 2,122 425
Total Revenue 32,008 21,033 19,433 18,331 10,061 1,567
Net Income 2,839 1,249 (891) (2,630) (2,525) (3,173)
Net Income (Attributable to Common Shares) 1,849 792 (568) (1,650) (1,409) (1,916)
Net Income (Attributable to Partnership Units) 990 457 (323) (980) (1,116) (1,257)
FFO 8,442 8,498 6,738 7,124 3,357 (1,941)
Modified FFO 8,442 8,498 6,738 7,124 4,035 351
Total Expenses 19,069 19,784 20,325 20,960 12,585 4,739
Key Metrics (in thousands)
FFO Payout (%) 62.93% 57.01% 66.83% 57.21% 88.61% (45.14)%
FFO/Total Revenue (%) 40.61% 40.41% 34.75% 38.86% 31.72% (123.91)%
Total Debt/Gross Real Estate (%) 61.79% 63.81% 66.60% 68.73% 72.93% 73.40%
Per Share Information ($)
FFO/Share $0.99 $1.06 $0.88 $1.01 $0.63 $ (1.02)
Modified FFO per Share $0.99 $1.06 $0.88 $1.01 $0.76 $ 0.18
Dividends Declared per Share $0.6325 $0.60375 $0.58938 $0.56375 $0.55 $ 0.3375
Principal Payments Schedule (in thousands)
Debt Due this Fiscal Year - - - - - -
Debt Due during Next Fiscal Year 3,090 17,346 2,500 2,026 1,758 954
Debt Due during Second Fiscal Year 4,535 2,359 29,132 2,115 1,865 993
Debt Due during Third Fiscal Year 3,235 5,792 1,770 28,729 1,941 1,033
Debt Due during Fourth Fiscal Year 14,517 2,330 5,189 1,350 28,512 1,073
Debt Due Thereafter 73,600 59,100 50,785 41,166 35,144 31,353
Shareholder Data YTD Weighted Averages
Common shares/UPREIT Units Outstanding 8,565,331 8,026,079 7,640,300 7,047,029 5,298,534 1,900,496
UPREIT Units Outstanding 2,987,107 2,937,431 2,769,877 2,626,518 2,342,335 752,903
Common shares Outstanding 5,578,224 5,088,648 4,870,423 4,420,510 2,956,198 1,147,593