2018 Q1 Form 10-Q Financial Statement

#000152611318000007 Filed on May 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $68.09M $62.84M
YoY Change 8.35% 14.34%
Cost Of Revenue $6.831M $12.97M
YoY Change -47.33% 24.0%
Gross Profit $61.26M $49.87M
YoY Change 22.83% 12.09%
Gross Profit Margin 89.97% 79.36%
Selling, General & Admin $1.220M $1.790M
YoY Change -31.84% -34.91%
% of Gross Profit 1.99% 3.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.85M $14.28M
YoY Change 10.99% 13.28%
% of Gross Profit 25.88% 28.63%
Operating Expenses $46.26M $42.56M
YoY Change 8.69% 15.54%
Operating Profit $21.82M $20.28M
YoY Change 7.64% 11.92%
Interest Expense $12.98M $11.53M
YoY Change 12.52% 9.1%
% of Operating Profit 59.45% 56.87%
Other Income/Expense, Net -$15.94M -$11.92M
YoY Change 33.75% 8.29%
Pretax Income $5.882M $8.356M
YoY Change -29.61% 17.56%
Income Tax $1.070M $906.0K
% Of Pretax Income 18.19% 10.84%
Net Earnings $4.812M $7.429M
YoY Change -35.23% 14.5%
Net Earnings / Revenue 7.07% 11.82%
Basic Earnings Per Share
Diluted Earnings Per Share $71.48K $112.1K
COMMON SHARES
Basic Shares Outstanding 67.29M shares 198.8M shares
Diluted Shares Outstanding 67.29M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.7M $72.40M
YoY Change 47.38% 58.08%
Cash & Equivalents $106.7M $72.35M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $151.8M $109.8M
YoY Change 38.25% 139.74%
LONG-TERM ASSETS
Property, Plant & Equipment $2.913B $2.723B
YoY Change 6.95% 13.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.30M $7.400M
YoY Change 39.19% -20.43%
Total Long-Term Assets $2.981B $2.788B
YoY Change 6.94% 13.53%
TOTAL ASSETS
Total Short-Term Assets $151.8M $109.8M
Total Long-Term Assets $2.981B $2.788B
Total Assets $3.133B $2.898B
YoY Change 8.13% 15.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.30M $22.60M
YoY Change 20.8% 15.31%
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 $31.40M $31.50M
YoY Change -0.32% 32.35%
LONG-TERM LIABILITIES
Long-Term Debt $1.618B $1.457B
YoY Change 11.04% 18.55%
Other Long-Term Liabilities $73.20M $62.50M
YoY Change 17.12% 12.21%
Total Long-Term Liabilities $1.691B $1.519B
YoY Change 11.29% 18.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.40M $31.50M
Total Long-Term Liabilities $1.691B $1.519B
Total Liabilities $1.739B $1.566B
YoY Change 10.99% 19.35%
SHAREHOLDERS EQUITY
Retained Earnings -$502.0M -$373.9M
YoY Change 34.26% 26.18%
Common Stock $2.003M $1.990M
YoY Change 0.65% 17.61%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.394B $1.324B
YoY Change
Total Liabilities & Shareholders Equity $3.133B $2.898B
YoY Change 8.13% 15.84%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $4.812M $7.429M
YoY Change -35.23% 14.5%
Depreciation, Depletion And Amortization $15.85M $14.28M
YoY Change 10.99% 13.28%
Cash From Operating Activities $40.68M $32.73M
YoY Change 24.29% 16.35%
INVESTING ACTIVITIES
Capital Expenditures -$70.50M -$30.70M
YoY Change 129.64% 30600.0%
Acquisitions
YoY Change
Other Investing Activities -$600.0K $12.40M
YoY Change -104.84%
Cash From Investing Activities -$71.02M -$18.24M
YoY Change 289.38% 15898.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$13.00K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $32.57M -$15.35M
YoY Change -312.26% -70.39%
NET CHANGE
Cash From Operating Activities $40.68M $32.73M
Cash From Investing Activities -$71.02M -$18.24M
Cash From Financing Activities $32.57M -$15.35M
Net Change In Cash $2.233M -$855.0K
YoY Change -361.17% -96.41%
FREE CASH FLOW
Cash From Operating Activities $40.68M $32.73M
Capital Expenditures -$70.50M -$30.70M
Free Cash Flow $111.2M $63.43M
YoY Change 75.28% 124.68%

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CY2017Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
957000 USD
CY2018Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 USD
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1770000 USD
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2051000 USD
CY2017Q4 us-gaap Incentive To Lessee
IncentiveToLessee
42739000 USD
CY2018Q1 us-gaap Incentive To Lessee
IncentiveToLessee
45111000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8356000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5882000 USD
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
906000 USD
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1070000 USD
CY2017Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
2473000 USD
CY2018Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
2597000 USD
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-522000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4034000 USD
CY2017Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1567000 USD
CY2018Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1527000 USD
CY2017Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2047000 USD
CY2018Q1 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2954000 USD
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2416000 USD
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1493000 USD
CY2017Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
22771000 USD
CY2018Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
23151000 USD
CY2017Q1 us-gaap Interest Expense
InterestExpense
11531000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
12975000 USD
CY2017Q1 us-gaap Interest Paid
InterestPaid
10426000 USD
CY2018Q1 us-gaap Interest Paid
InterestPaid
11528000 USD
CY2017Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
2138405000 USD
CY2018Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
2218176000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
1624352000 USD
CY2018Q1 us-gaap Liabilities
Liabilities
1738627000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3038595000 USD
CY2018Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3133122000 USD
CY2017Q4 us-gaap Line Of Credit
LineOfCredit
298909000 USD
CY2018Q1 us-gaap Line Of Credit
LineOfCredit
342023000 USD
CY2018Q1 us-gaap Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring
LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring
23030 USD
CY2017Q4 us-gaap Minority Interest
MinorityInterest
1077000 USD
CY2018Q1 us-gaap Minority Interest
MinorityInterest
125000 USD
CY2018Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
158000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15345000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32571000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18238000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-71015000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32728000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
40677000 USD
CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
21000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7429000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2361000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7244000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2177000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-11919000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15942000 USD
CY2017Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
3 property
CY2018Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
6 property
CY2018Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
327 property
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
42562000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
46262000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20275000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
21824000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
52091000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1475000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1475000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1475000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1475000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
2161484000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
252279000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
261787000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
263576000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
260420000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
193051000 USD
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1107000 USD
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
58492000 USD
CY2018Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
63792000 USD
CY2018Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400000 USD
CY2017Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
6000 USD
CY2018Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
1000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1611000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
4346000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1703000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
10800000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3314000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
15146000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
11000 USD
CY2017Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
CY2018Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
6750000 USD
CY2017Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 USD
CY2018Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
561000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
35293000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
35833000 USD
CY2017Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
255000 USD
CY2018Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
158000 USD
CY2017Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
0 USD
CY2018Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2451000 USD
CY2017Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
102000 USD
CY2018Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2017Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2018Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
13000 USD
CY2017Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
30290000 USD
CY2018Q1 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
63596000 USD
CY2017Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
388000 USD
CY2018Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
108000 USD
CY2017Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0725
CY2018Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0725
CY2017Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2451000 USD
CY2017Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25
CY2018Q1 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
25
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
16670000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
5409650 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
5411326 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
5409650 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
5411326 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
54000 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
54000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
22617000 USD
CY2018Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
30817000 USD
CY2017Q1 us-gaap Proceeds From Collection Of Advance To Affiliate
ProceedsFromCollectionOfAdvanceToAffiliate
1713000 USD
CY2018Q1 us-gaap Proceeds From Collection Of Advance To Affiliate
ProceedsFromCollectionOfAdvanceToAffiliate
0 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
-419000 USD
CY2017Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
75335000 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
70000000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
30300000 USD
CY2017Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
12440000 USD
CY2018Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
CY2017Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
0 USD
CY2018Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
32750000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
7450000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
4812000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
414000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
43000 USD
CY2017Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
402318000 USD
CY2018Q1 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
418878000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
339931000 USD
CY2018Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
375484000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3172677000 USD
CY2018Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
3287979000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2832746000 USD
CY2018Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2912495000 USD
CY2017Q1 us-gaap Repayments Of Assumed Debt
RepaymentsOfAssumedDebt
56537000 USD
CY2018Q1 us-gaap Repayments Of Assumed Debt
RepaymentsOfAssumedDebt
0 USD
CY2017Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
30000000 USD
CY2017Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
206000 USD
CY2018Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1305000 USD
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5149000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5302000 USD
CY2018Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2690000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-468396000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-502026000 USD
CY2017Q1 us-gaap Revenues
Revenues
62837000 USD
CY2018Q1 us-gaap Revenues
Revenues
68086000 USD
CY2017Q4 us-gaap Secured Debt
SecuredDebt
984876000 USD
CY2018Q1 us-gaap Secured Debt
SecuredDebt
1038894000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
16000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
-832000 USD
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-13000 USD
CY2017Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
16000 USD
CY2018Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
-832000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1413166000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1394370000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1414243000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1394495000 USD
CY2017Q1 us-gaap Straight Line Rent
StraightLineRent
3878000 USD
CY2018Q1 us-gaap Straight Line Rent
StraightLineRent
1503000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2475000 USD
CY2018Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
948000 USD
CY2017Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4345000 USD
CY2018Q1 us-gaap Tenant Reimbursements
TenantReimbursements
4294000 USD
CY2017Q4 us-gaap Unsecured Debt
UnsecuredDebt
229905000 USD
CY2018Q1 us-gaap Unsecured Debt
UnsecuredDebt
236783000 USD
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66271008 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67287231 shares
CY2018Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's revenues, which are derived primarily from rental income, include rents that each tenant pays in accordance with the terms of each lease agreement and are reported on a straight-line basis over the initial term of the lease. Since many of the Company's leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. For new leases after acquisition, the commencement date is considered to be the date the lease is executed. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant&#8217;s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company records an increase in the Company's allowance for uncollectible accounts or records a direct write-off of the receivable in the Company's consolidated statements of operations. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cost recoveries from tenants are included in operating expense reimbursement in the period the related costs are incurred, as applicable.</font></div></div>
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Judgments and Estimates</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company regularly makes a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses in order to prepare its consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, such as the prevailing economic and business environment. The Company adjusts such estimates when facts and circumstances dictate. The most significant estimates the Company makes include recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, determination of impairment of long-lived assets, valuation of derivative financial instruments, valuation of compensation plans, and estimating the useful life of a long-lived asset. Actual results could differ materially from those estimated. </font></div></div>

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