2020 Q1 Form 10-Q Financial Statement

#000162828020007458 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $44.41M $45.61M
YoY Change -2.64% 6.77%
Cost Of Revenue $1.554M $1.554M
YoY Change 0.0% -92.25%
Gross Profit $42.85M $44.05M
YoY Change -2.73% 89.72%
Gross Profit Margin 96.5% 96.59%
Selling, General & Admin $3.430M $3.810M
YoY Change -9.97% 26.58%
% of Gross Profit 8.0% 8.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.42M $18.41M
YoY Change 0.06% -11.73%
% of Gross Profit 42.99% 41.8%
Operating Expenses $21.58M $21.92M
YoY Change -1.55% 2.48%
Operating Profit $2.004M $1.460M
YoY Change 37.26% -181.38%
Interest Expense $6.911M $7.896M
YoY Change -12.47% -4.82%
% of Operating Profit 344.86% 540.82%
Other Income/Expense, Net $17.00K
YoY Change 6.25%
Pretax Income -$7.680M -$5.960M
YoY Change 28.86% -216.41%
Income Tax
% Of Pretax Income
Net Earnings -$7.007M -$4.698M
YoY Change 49.15% -103.45%
Net Earnings / Revenue -15.78% -10.3%
Basic Earnings Per Share -$0.69 -$0.54
Diluted Earnings Per Share -$0.69 -$0.54
COMMON SHARES
Basic Shares Outstanding 12.10M shares 11.76M shares
Diluted Shares Outstanding 13.16M shares 13.23M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.30M $23.30M
YoY Change 12.88% 2.64%
Cash & Equivalents $26.34M $23.33M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.30M $23.30M
YoY Change 12.88% 2.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.339B $1.314B
YoY Change 1.93% 1.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.300M $4.800M
YoY Change -52.08% -96.04%
Total Long-Term Assets $1.363B $1.348B
YoY Change 1.1% -5.93%
TOTAL ASSETS
Total Short-Term Assets $26.30M $23.30M
Total Long-Term Assets $1.363B $1.348B
Total Assets $1.389B $1.371B
YoY Change 1.3% -5.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.00M $37.50M
YoY Change -6.67% 4.75%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.00M $37.50M
YoY Change -6.67% 4.75%
LONG-TERM LIABILITIES
Long-Term Debt $680.5M $693.7M
YoY Change -1.9% 0.55%
Other Long-Term Liabilities $17.40M $3.200M
YoY Change 443.75%
Total Long-Term Liabilities $697.9M $696.9M
YoY Change 0.14% 1.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.00M $37.50M
Total Long-Term Liabilities $697.9M $696.9M
Total Liabilities $732.8M $734.4M
YoY Change -0.21% 1.2%
SHAREHOLDERS EQUITY
Retained Earnings -$407.2M -$443.7M
YoY Change -8.23% 21.66%
Common Stock $912.7M $895.4M
YoY Change 1.93% -1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $584.2M $548.0M
YoY Change
Total Liabilities & Shareholders Equity $1.389B $1.371B
YoY Change 1.3% -5.8%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$7.007M -$4.698M
YoY Change 49.15% -103.45%
Depreciation, Depletion And Amortization $18.42M $18.41M
YoY Change 0.06% -11.73%
Cash From Operating Activities $6.235M $6.292M
YoY Change -0.91% 67.83%
INVESTING ACTIVITIES
Capital Expenditures -$26.60M -$28.50M
YoY Change -6.67% -87.41%
Acquisitions
YoY Change
Other Investing Activities $115.0K -$109.0K
YoY Change -205.5% 354.17%
Cash From Investing Activities -$31.95M -$25.52M
YoY Change 25.17% -74.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$3.352M $8.815M
YoY Change -138.03% 511.3%
Debt Paid & Issued, Net $13.50M
YoY Change -68.45%
Cash From Financing Activities $8.275M $28.12M
YoY Change -70.57% -117.54%
NET CHANGE
Cash From Operating Activities $6.235M $6.292M
Cash From Investing Activities -$31.95M -$25.52M
Cash From Financing Activities $8.275M $28.12M
Net Change In Cash -$17.44M $8.892M
YoY Change -296.08% -103.45%
FREE CASH FLOW
Cash From Operating Activities $6.235M $6.292M
Capital Expenditures -$26.60M -$28.50M
Free Cash Flow $32.84M $34.79M
YoY Change -5.62% -84.88%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
639716000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-7684000 USD
CY2019Q1 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
0 USD
CY2020Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-2326000 USD
CY2019Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
465000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
416000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-206000 USD
CY2019Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-320000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3602000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6292000 USD
CY2020Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
1679000 USD
CY2019Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
CY2020Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6956000 USD
CY2019Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
CY2020Q1 iret Proceeds From Sale Of Real Estate And Other Investments
ProceedsFromSaleOfRealEstateAndOtherInvestments
0 USD
CY2019Q1 iret Proceeds From Sale Of Real Estate And Other Investments
ProceedsFromSaleOfRealEstateAndOtherInvestments
2912000 USD
CY2020Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
23712000 USD
CY2019Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
27741000 USD
CY2020Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
2841000 USD
CY2019Q1 us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
801000 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
115000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-109000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-31945000 USD
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1705000 USD
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28682000 USD
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
13503000 USD
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
41578000 USD
CY2019Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
79677000 USD
CY2020Q1 iret Payments Of Ordinary Dividends Preferred Unitholders
PaymentsOfOrdinaryDividendsPreferredUnitholders
160000 USD
CY2019Q1 iret Payments Of Ordinary Dividends Preferred Unitholders
PaymentsOfOrdinaryDividendsPreferredUnitholders
0 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28148000 USD
CY2020Q1 iret Adjustments To Accounts Payable Included Within Real Estate Investments
AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments
1286000 USD
CY2020Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8656000 USD
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18500000 USD
CY2020Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
741000 USD
CY2019Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
957000 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-39000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3352000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8815000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
3137000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
14000 USD
CY2019Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
156000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8469000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8336000 USD
CY2019Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-50000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8275000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28121000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17435000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8892000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46117000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19256000 USD
CY2019Q1 iret Adjustments To Accounts Payable Included Within Real Estate Investments
AdjustmentsToAccountsPayableIncludedWithinRealEstateInvestments
1167000 USD
CY2020Q1 iret Partner Units Converted To Shares Non Cash
PartnerUnitsConvertedToSharesNonCash
930000 USD
CY2019Q1 iret Partner Units Converted To Shares Non Cash
PartnerUnitsConvertedToSharesNonCash
0 USD
CY2020Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-2326000 USD
CY2019Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0 USD
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
17663000 USD
CY2019Q1 us-gaap Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
0 USD
CY2020Q1 iret Noncashor Part Noncash Acquisition Write Off Of Receivable In Exchange For Propert
NoncashorPartNoncashAcquisitionWriteOffOfReceivableInExchangeForPropert
17663000 USD
CY2019Q1 iret Noncashor Part Noncash Acquisition Write Off Of Receivable In Exchange For Propert
NoncashorPartNoncashAcquisitionWriteOffOfReceivableInExchangeForPropert
0 USD
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 USD
CY2019Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
16560000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
6481000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
7350000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23329000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
3044000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2344000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4819000 USD
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">USE OF ESTIMATES</span></div><div style="line-height:120%;padding-bottom:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26338000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
2267000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28682000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28148000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
3047000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
2870000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
2339000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5021000 USD
CY2020Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
18588000 USD
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
41934000 USD
CY2019Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
43743000 USD
CY2020Q1 us-gaap Variable Lease Income
VariableLeaseIncome
1780000 USD
CY2019Q1 us-gaap Variable Lease Income
VariableLeaseIncome
1083000 USD
CY2020Q1 us-gaap Revenues
Revenues
44406000 USD
CY2019Q1 us-gaap Revenues
Revenues
45608000 USD
CY2019Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q1 iret Loans Receivable Gross Commercial Mortgage Communities In Pool Of Assets
LoansReceivableGrossCommercialMortgageCommunitiesInPoolOfAssets
12 community
CY2020Q1 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
12200000 USD
CY2020Q1 us-gaap Cost Method Investments Fair Value Disclosure
CostMethodInvestmentsFairValueDisclosure
4264000 USD
CY2020Q1 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
-2261000 USD
CY2019Q4 us-gaap Cost Method Investments Fair Value Disclosure
CostMethodInvestmentsFairValueDisclosure
6942000 USD
us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
113000 USD
CY2020Q1 iret Ratio Of Units Exchanged For Shares
RatioOfUnitsExchangedForShares
1
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-7007000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-4698000 USD
CY2020Q1 iret Dividends Preferred Stock1
DividendsPreferredStock1
1705000 USD
CY2019Q1 iret Dividends Preferred Stock1
DividendsPreferredStock1
1705000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-7089000 USD
CY2019Q1 iret Weighted Average Number Of Preferred Units Outstanding
WeightedAverageNumberOfPreferredUnitsOutstanding
85000 shares
CY2020Q1 iret Weighted Average Number Of Dilutive Restricted Stock Shares Outstanding
WeightedAverageNumberOfDilutiveRestrictedStockSharesOutstanding
16000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12103000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11763000 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1054000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1367000 shares
CY2020Q1 iret Weighted Average Number Of Preferred Units Outstanding
WeightedAverageNumberOfPreferredUnitsOutstanding
228000 shares
CY2019Q1 iret Weighted Average Number Of Dilutive Restricted Stock Shares Outstanding
WeightedAverageNumberOfDilutiveRestrictedStockSharesOutstanding
14000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13401000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13229000 shares
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.69
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.54
CY2020Q1 us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
273000 USD
CY2019Q1 us-gaap Preferred Stock Redemption Discount
PreferredStockRedemptionDiscount
0 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8439000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6403000 USD
CY2020Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
-692000 USD
CY2019Q1 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
-743000 USD
CY2020Q1 iret Payments Of Ordinary Dividends Preferred Unitholders Accrued Amount
PaymentsOfOrdinaryDividendsPreferredUnitholdersAccruedAmount
160000 USD
CY2019Q1 iret Payments Of Ordinary Dividends Preferred Unitholders Accrued Amount
PaymentsOfOrdinaryDividendsPreferredUnitholdersAccruedAmount
57000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8971000 USD
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.69
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.67
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.54
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2019Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2020Q1 iret Noncontrolling Interests Operating Partnership Units
NoncontrollingInterestsOperatingPartnershipUnits
1000000.0 shares
CY2019Q4 iret Noncontrolling Interests Operating Partnership Units
NoncontrollingInterestsOperatingPartnershipUnits
1100000 shares
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12200000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
12100000 shares
CY2020Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
0 shares
CY2020Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
14000 USD
CY2020Q1 iret Sale Of Stock Average Price Per Share
SaleOfStockAveragePricePerShare
74.45
CY2019Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
3000 shares
CY2019Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
156000 USD
CY2019Q1 iret Sale Of Stock Average Price Per Share
SaleOfStockAveragePricePerShare
58.95
CY2020Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
46900000 USD
CY2020Q1 us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
Common shares and Series C Preferred Shares repurchased during the <span style="font-family:inherit;font-size:10pt;">three</span><span style="font-family:inherit;font-size:10pt;"> months ended </span><span style="font-family:inherit;font-size:10pt;">March 31, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;"> are detailed in the table below.</span><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="14"/></tr><tr><td style="width:26%;"/><td style="width:13%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:16%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:17%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:1%;"/><td style="width:19%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="13" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-style:italic;font-weight:bold;">(in thousands, except per share amounts)</span></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Common Shares</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Preferred Shares</span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Aggregate Cost</span><span style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;font-weight:bold;">Average Price Per Share</span><span style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></span></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">2020</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">—</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>136</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>3,137</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>23.00</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">2019</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>174</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">—</span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>8,804</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">$</span></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;"><span>50.54</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;padding-left:0px;"><span style="font-family:inherit;font-size:8pt;">(1)</span></div><div style="line-height:120%;font-size:8pt;"><span style="font-family:inherit;font-size:8pt;">Amount includes commissions.</span></div>
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4000000.0 shares
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
4100000 shares
CY2020Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2020Q1 iret Preferred Stock Annual Distribution Accrual Rate
PreferredStockAnnualDistributionAccrualRate
1.65625
CY2020Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.06625
CY2020Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25.00
CY2020Q1 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
99600000 USD
CY2019Q1 us-gaap Partners Capital Account Units Converted
PartnersCapitalAccountUnitsConverted
1.37931 shares
CY2019Q1 iret Partners Capital Account Units Converted Conversion Price
PartnersCapitalAccountUnitsConvertedConversionPrice
72.50
CY2020Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
70 property
CY2020Q1 iret Number Of Real Estate Properties Unencumbered
NumberOfRealEstatePropertiesUnencumbered
46 property
CY2020Q1 iret Number Of Real Estate Properties Unencumbered Used To Provide Credit Support
NumberOfRealEstatePropertiesUnencumberedUsedToProvideCreditSupport
45 property
CY2020Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
6000000.0 USD
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
682988000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
651455000 USD
CY2020Q1 iret Debt Instrument Weighted Average Maturity
DebtInstrumentWeightedAverageMaturity
P5Y7M6D
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
13509000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
40523000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
37352000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
48111000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
73777000 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
386716000 USD
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
599988000 USD
CY2020Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
4000000.0 USD
CY2020Q1 us-gaap Real Estate Insurance
RealEstateInsurance
327000 USD
CY2020Q1 iret Net Operating Income Loss
NetOperatingIncomeLoss
25473000 USD
CY2020Q1 iret Depreciation And Amortization Including Related To Non Real Estate Investments
DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments
18160000 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3428000 USD
CY2020Q1 iret Property Operating Expense
PropertyOperatingExpense
18933000 USD
CY2020Q1 us-gaap Revenues
Revenues
44406000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
6911000 USD
CY2020Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
-2777000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-7684000 USD
CY2019Q1 us-gaap Revenues
Revenues
45608000 USD
CY2019Q1 iret Property Operating Expense
PropertyOperatingExpense
20036000 USD
CY2019Q1 iret Net Operating Income Loss
NetOperatingIncomeLoss
25572000 USD
CY2019Q1 iret Depreciation And Amortization Including Related To Non Real Estate Investments
DepreciationAndAmortizationIncludingRelatedToNonRealEstateInvestments
18111000 USD
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3806000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
7896000 USD
CY2019Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2000 USD
CY2019Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
424000 USD
CY2019Q1 iret Income Loss Before Gain Loss On Sale Of Real Estate And Other Investments And Income Loss From Discontinued Operations
IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations
-6014000 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Properties Before Applicable Income Taxes
GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
54000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-5960000 USD
CY2020Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1687436000 USD
CY2020Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
366307000 USD
CY2020Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1321129000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26338000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2344000 USD
CY2020Q1 us-gaap Other Assets
OtherAssets
21124000 USD
CY2020Q1 us-gaap Inventory Real Estate
InventoryRealEstate
1376000 USD
CY2020Q1 iret Loans Receivable Commercial Mortgage Netof Deferred Costs
LoansReceivableCommercialMortgageNetofDeferredCosts
16775000 USD
CY2020Q1 us-gaap Assets
Assets
1389086000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1643078000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
349122000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1293956000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26579000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19538000 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
34829000 USD
CY2019Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
1376000 USD
CY2019Q4 iret Loans Receivable Commercial Mortgage Netof Deferred Costs
LoansReceivableCommercialMortgageNetofDeferredCosts
16140000 USD
CY2019Q4 us-gaap Assets
Assets
1392418000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
465000 USD
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
416000 USD

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