2021 Q1 Form 10-Q Financial Statement

#000148251221000091 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $213.1M $206.2M
YoY Change 3.34% 4.48%
Cost Of Revenue $78.00M $74.50M
YoY Change 4.7% 3.62%
Gross Profit $135.1M $131.7M
YoY Change 2.57% 4.98%
Gross Profit Margin 63.39% 63.87%
Selling, General & Admin $18.40M $18.60M
YoY Change -1.08% 2.76%
% of Gross Profit 13.62% 14.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $82.76M $73.76M
YoY Change 12.2% 7.68%
% of Gross Profit 61.26% 56.0%
Operating Expenses $179.2M $166.9M
YoY Change 7.39% 5.28%
Operating Profit -$44.12M -$35.17M
YoY Change 25.44% 6.4%
Interest Expense $30.29M $26.42M
YoY Change 14.65% 8.49%
% of Operating Profit
Other Income/Expense, Net -$22.48M -$25.39M
YoY Change -11.44% -66.49%
Pretax Income $11.40M $13.90M
YoY Change -17.99% -137.67%
Income Tax
% Of Pretax Income
Net Earnings $11.41M $13.95M
YoY Change -18.19% -135.41%
Net Earnings / Revenue 5.35% 6.76%
Basic Earnings Per Share $0.03 $0.07
Diluted Earnings Per Share $0.03 $0.07
COMMON SHARES
Basic Shares Outstanding 150.8M shares 154.4M shares
Diluted Shares Outstanding 151.1M shares 158.1M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $134.3M $392.1M
YoY Change -65.75% 648.28%
Cash & Equivalents $134.3M $392.1M
Short-Term Investments
Other Short-Term Assets $1.600M $1.100M
YoY Change 45.45%
Inventory
Prepaid Expenses
Receivables $252.5M $222.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $388.4M $615.2M
YoY Change -36.87% 168.18%
LONG-TERM ASSETS
Property, Plant & Equipment $7.405B $6.676B
YoY Change 10.92% 2.34%
Goodwill $8.754M $8.754M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $83.92M $60.07M
YoY Change 39.7% -58.6%
Other Assets $316.7M $14.90M
YoY Change 2025.5% -86.86%
Total Long-Term Assets $8.015B $7.230B
YoY Change 10.87% 1.2%
TOTAL ASSETS
Total Short-Term Assets $388.4M $615.2M
Total Long-Term Assets $8.015B $7.230B
Total Assets $8.404B $7.845B
YoY Change 7.12% 6.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $271.4M $255.8M
YoY Change 6.1% 22.98%
Accrued Expenses $269.2M $272.4M
YoY Change -1.17% -0.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $631.1M $601.6M
YoY Change 4.9% 9.01%
LONG-TERM LIABILITIES
Long-Term Debt $3.652B $3.434B
YoY Change 6.33% 17.81%
Other Long-Term Liabilities $46.20M $42.30M
YoY Change 9.22% 1.2%
Total Long-Term Liabilities $3.698B $3.477B
YoY Change 6.37% 17.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $631.1M $601.6M
Total Long-Term Liabilities $3.698B $3.477B
Total Liabilities $4.329B $4.078B
YoY Change 6.15% 16.23%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.508M $1.533M
YoY Change -1.63% -0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.420B $3.333B
YoY Change
Total Liabilities & Shareholders Equity $8.404B $7.845B
YoY Change 7.12% 6.39%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $11.41M $13.95M
YoY Change -18.19% -135.41%
Depreciation, Depletion And Amortization $82.76M $73.76M
YoY Change 12.2% 7.68%
Cash From Operating Activities $114.7M $90.10M
YoY Change 27.3% 0.73%
INVESTING ACTIVITIES
Capital Expenditures -$98.10M -$79.10M
YoY Change 24.02% -16.38%
Acquisitions
YoY Change
Other Investing Activities $900.0K $1.000M
YoY Change -10.0% -102.97%
Cash From Investing Activities -$97.21M -$78.10M
YoY Change 24.47% -39.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.76M $35.35M
YoY Change -58.26%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.312M $333.9M
YoY Change -99.31% 809.68%
NET CHANGE
Cash From Operating Activities $114.7M $90.10M
Cash From Investing Activities -$97.21M -$78.10M
Cash From Financing Activities $2.312M $333.9M
Net Change In Cash $19.79M $345.9M
YoY Change -94.28% -16414.15%
FREE CASH FLOW
Cash From Operating Activities $114.7M $90.10M
Capital Expenditures -$98.10M -$79.10M
Free Cash Flow $212.8M $169.2M
YoY Change 25.77% -8.07%

Facts In Submission

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3936240000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3709362000 USD
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2768000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
0 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
35351000 USD
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5501000 USD
CY2020Q1 us-gaap Dividends
Dividends
38883000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5880000 USD
CY2020Q1 hpp Profit Loss Excluding Gains Losses Of Redeemable Noncontrolling Interests In Partially Owned Consolidated Subsidiaries
ProfitLossExcludingGainsLossesOfRedeemableNoncontrollingInterestsInPartiallyOwnedConsolidatedSubsidiaries
14429000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-17414000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3629754000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
11411000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
13949000 USD
CY2021Q1 hpp Depreciation Depletion And Amortization Including Discontinued Operations
DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations
82761000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3538000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4895000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
635000 USD
CY2020Q1 hpp Depreciation Depletion And Amortization Including Discontinued Operations
DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations
73763000 USD
CY2021Q1 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
2417000 USD
CY2020Q1 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
1245000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-236000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
5775000 USD
CY2020Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-581000 USD
CY2021Q1 us-gaap Straight Line Rent
StraightLineRent
7132000 USD
CY2020Q1 us-gaap Straight Line Rent
StraightLineRent
13709000 USD
CY2021Q1 hpp Straight Line Rent Expense
StraightLineRentExpense
366000 USD
CY2020Q1 hpp Straight Line Rent Expense
StraightLineRentExpense
365000 USD
CY2021Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2518000 USD
CY2020Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-2544000 USD
CY2021Q1 hpp Amortization Of Above And Below Market Ground Leases Net
AmortizationOfAboveAndBelowMarketGroundLeasesNet
588000 USD
CY2020Q1 hpp Amortization Of Above And Below Market Ground Leases Net
AmortizationOfAboveAndBelowMarketGroundLeasesNet
588000 USD
CY2021Q1 us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
475000 USD
CY2020Q1 us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
472000 USD
CY2021Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
172000 USD
CY2020Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2381000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-67000 USD
CY2021Q1 hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
6099000 USD
CY2020Q1 hpp Payments Of Deferred Leasing Costs And Lease Intangibles
PaymentsOfDeferredLeasingCostsAndLeaseIntangibles
4139000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-962000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1054000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
33430000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
28162000 USD
CY2021Q1 hpp Increase Decrease In Security Deposits And Prepaid Rent
IncreaseDecreaseInSecurityDepositsAndPrepaidRent
-1647000 USD
CY2020Q1 hpp Increase Decrease In Security Deposits And Prepaid Rent
IncreaseDecreaseInSecurityDepositsAndPrepaidRent
-12779000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
114695000 USD
CY2021Q1 hpp Payments For Non Real Estate Investments
PaymentsForNonRealEstateInvestments
2215000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
90098000 USD
CY2021Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
95884000 USD
CY2020Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
79058000 USD
CY2021Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1324000 USD
CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1284000 USD
CY2020Q1 hpp Payments For Non Real Estate Investments
PaymentsForNonRealEstateInvestments
0 USD
CY2021Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
CY2020Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
24000 USD
CY2021Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
439000 USD
CY2020Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
351000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-97214000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-78101000 USD
CY2021Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
52975000 USD
CY2020Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
415040000 USD
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
159000 USD
CY2021Q1 hpp Payments For In Substance Defeased Debt
PaymentsForInSubstanceDefeasedDebt
879000 USD
CY2020Q1 hpp Payments For In Substance Defeased Debt
PaymentsForInSubstanceDefeasedDebt
825000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
14756000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
35351000 USD
CY2020Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
148000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38426000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38883000 USD
CY2021Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
153000 USD
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
153000 USD
CY2021Q1 hpp Proceeds From Contribution From Redeemable Noncontrolling Member In Consolidated Entity
ProceedsFromContributionFromRedeemableNoncontrollingMemberInConsolidatedEntity
1469000 USD
CY2020Q1 hpp Proceeds From Contribution From Redeemable Noncontrolling Member In Consolidated Entity
ProceedsFromContributionFromRedeemableNoncontrollingMemberInConsolidatedEntity
2456000 USD
CY2021Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
15016000 USD
CY2020Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2021Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
12082000 USD
CY2020Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2768000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
693000 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5501000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2020Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2312000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
333863000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19793000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
345860000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149540000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58258000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169333000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
404118000 USD
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
64 property
CY2021Q1 us-gaap Net Rentable Area
NetRentableArea
19994674 sqft
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
.
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 commitments and contingencies at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates, including those related to acquiring, developing and assessing the carrying values of its real estate properties, determining the incremental borrowing rate used in the present value calculations of its new or modified operating lessee agreements, its accrued liabilities and its performance-based equity compensation awards. The Company bases its estimates on historical experience, current market conditions and various other assumptions that are believed to be reasonable under the circumstances. Actual results could materially differ from these estimates.</span></div>
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2021Q1 us-gaap Land
Land
1351888000 USD
CY2020Q4 us-gaap Land
Land
1351888000 USD
CY2021Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5881036000 USD
CY2020Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
5840819000 USD
CY2021Q1 us-gaap Tenant Improvements
TenantImprovements
737190000 USD
CY2020Q4 us-gaap Tenant Improvements
TenantImprovements
728111000 USD
CY2021Q1 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
12491000 USD
CY2020Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
12250000 USD
CY2021Q1 us-gaap Development In Process
DevelopmentInProcess
320873000 USD
CY2020Q4 us-gaap Development In Process
DevelopmentInProcess
281949000 USD
CY2021Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8303478000 USD
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8215017000 USD
CY2021Q1 hpp Number Of Properties Acquired
NumberOfPropertiesAcquired
0 property
CY2021Q1 hpp Number Of Dispositions
NumberOfDispositions
0 property
CY2021Q1 hpp Number Of Real Estate Properties Classified As Held For Sale
NumberOfRealEstatePropertiesClassifiedAsHeldForSale
0 property
CY2021Q1 hpp Allowance For Doubtful Deferred Rent Receivables
AllowanceForDoubtfulDeferredRentReceivables
200000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
280679000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
285836000 USD
CY2021Q1 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
46190000 USD
CY2020Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
49144000 USD
CY2021Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
19600000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 USD
CY2020Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
22100000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 USD
CY2021Q1 hpp Deferred Rent Receivables Gross
DeferredRentReceivablesGross
233000000.0 USD
CY2020Q4 hpp Deferred Rent Receivables Gross
DeferredRentReceivablesGross
226000000.0 USD
CY2020Q4 hpp Allowance For Doubtful Deferred Rent Receivables
AllowanceForDoubtfulDeferredRentReceivables
300000 USD
CY2021Q1 hpp Deposits For Future Acquisitions
DepositsForFutureAcquisitions
31519000 USD
CY2020Q4 hpp Deposits For Future Acquisitions
DepositsForFutureAcquisitions
28488000 USD
CY2021Q1 us-gaap Prepaid Insurance
PrepaidInsurance
535000 USD
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
5100000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
8754000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
8754000 USD
CY2021Q1 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
10263000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
4088000 USD
CY2021Q1 hpp Warrant Fair Value
WarrantFairValue
1906000 USD
CY2020Q4 hpp Warrant Fair Value
WarrantFairValue
0 USD
CY2021Q1 hpp Deferred Financing Costs Net
DeferredFinancingCostsNet
955000 USD
CY2020Q4 hpp Deferred Financing Costs Net
DeferredFinancingCostsNet
1216000 USD
CY2021Q1 us-gaap Prepaid Taxes
PrepaidTaxes
1069000 USD
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
2138000 USD
CY2021Q1 us-gaap Derivative Assets
DerivativeAssets
10000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
5000 USD
CY2021Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
23937000 USD
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
22878000 USD
CY2021Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
78948000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
72667000 USD
CY2021Q1 hpp Recognized Gain Loss On Stock Purchase Warrant
RecognizedGainLossOnStockPurchaseWarrant
1900000 USD
CY2020Q1 hpp Recognized Gain Loss On Stock Purchase Warrant
RecognizedGainLossOnStockPurchaseWarrant
0 USD
CY2021Q1 hpp Debt Instrument Duration Used In Interest Rate Calculation
DebtInstrumentDurationUsedInInterestRateCalculation
P360D
CY2021Q1 hpp Debt Instrument Covenant Compliance Fixed Charge Coverage Ratio Actual
DebtInstrumentCovenantComplianceFixedChargeCoverageRatioActual
3.5
CY2021Q1 hpp Debt Instrument Covenant Compliance Maximum Leverage Ratio
DebtInstrumentCovenantComplianceMaximumLeverageRatio
0.60
CY2021Q1 hpp Debt Instrument Covenant Compliance Actual Leverage Ratio
DebtInstrumentCovenantComplianceActualLeverageRatio
0.382
CY2021Q1 hpp Debt Instrument Covenant Compliance Maximum Unencumbered Leverage Ratio
DebtInstrumentCovenantComplianceMaximumUnencumberedLeverageRatio
0.60
CY2021Q1 hpp Debt Instrument Covenant Compliance Unencumbered Leverage Ratio Actual
DebtInstrumentCovenantComplianceUnencumberedLeverageRatioActual
0.373
CY2021Q1 hpp Debt Instrument Covenant Compliance Minimum Fixed Charge Coverage Ratio
DebtInstrumentCovenantComplianceMinimumFixedChargeCoverageRatio
1.5
CY2021Q1 hpp Debt Instrument Covenant Compliance Maximum Secured Indebtedness Leverage Ratio
DebtInstrumentCovenantComplianceMaximumSecuredIndebtednessLeverageRatio
0.45
CY2021Q1 hpp Debt Instrument Covenant Compliance Maximum Secured Indebtedness Leverage Ratio Actual
DebtInstrumentCovenantComplianceMaximumSecuredIndebtednessLeverageRatioActual
0.180
CY2021Q1 hpp Debt Instrument Covenant Compliance Minimum Unsecured Interest Coverage Ratio
DebtInstrumentCovenantComplianceMinimumUnsecuredInterestCoverageRatio
2.0
CY2021Q1 hpp Debt Instrument Covenant Compliance Minimum Unsecured Interest Coverage Ratio Actual
DebtInstrumentCovenantComplianceMinimumUnsecuredInterestCoverageRatioActual
3.5
CY2021Q1 hpp Debt Instrument Covenant Compliance Debt To Total Asset
DebtInstrumentCovenantComplianceDebtToTotalAsset
0.60
CY2021Q1 hpp Debt Instrument Covenant Compliance Debt To Total Asset Actual
DebtInstrumentCovenantComplianceDebtToTotalAssetActual
0.410
CY2021Q1 hpp Debt Instrument Covenant Compliance Unencumbered Assets To Unsecured Debt
DebtInstrumentCovenantComplianceUnencumberedAssetsToUnsecuredDebt
1.50
CY2021Q1 hpp Debt Instrument Covenant Compliance Unencumbered Assets To Unsecured Debt Actual
DebtInstrumentCovenantComplianceUnencumberedAssetsToUnsecuredDebtActual
2.903
CY2021Q1 hpp Debt Instrument Covenant Compliance Consolidated Income Available For Debt Service To Annual Debt Service Charge
DebtInstrumentCovenantComplianceConsolidatedIncomeAvailableForDebtServiceToAnnualDebtServiceCharge
1.5
CY2021Q1 hpp Debt Instrument Covenant Compliance Consolidated Income Available For Debt Service To Annual Debt Service Charge Actual
DebtInstrumentCovenantComplianceConsolidatedIncomeAvailableForDebtServiceToAnnualDebtServiceChargeActual
3.7
CY2021Q1 hpp Debt Instrument Covenant Compliance Secured Debt To Total Assets
DebtInstrumentCovenantComplianceSecuredDebtToTotalAssets
0.45
CY2021Q1 hpp Debt Instrument Covenant Compliance Secured Debt To Total Assets Actual
DebtInstrumentCovenantComplianceSecuredDebtToTotalAssetsActual
0.190
CY2021Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
33540000 USD
CY2020Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
30287000 USD
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
5671000 USD
CY2020Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
5115000 USD
CY2021Q1 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
2417000 USD
CY2020Q1 hpp Non Cash Portion Of Interest Expense
NonCashPortionOfInterestExpense
1245000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
30286000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
26417000 USD
CY2021Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-7300000 USD
CY2021Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
133800000 USD
CY2020Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
135100000 USD
CY2021Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
5100000 USD
CY2021Q1 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
0 USD
CY2021Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
6585000 USD
CY2021Q1 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
6702000 USD
CY2021Q1 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
127205000 USD
CY2021Q1 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
132201000 USD
CY2021Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
133790000 USD
CY2021Q1 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
138903000 USD
CY2021Q1 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
0 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
470280000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
618596000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
578966000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
496830000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
400053000 USD
CY2021Q1 hpp Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
1665524000 USD
CY2021Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
4230249000 USD
CY2021Q1 hpp Operating Lease Expense Minimum Contingent
OperatingLeaseExpenseMinimumContingent
2249000 USD
CY2020Q1 hpp Operating Lease Expense Minimum Contingent
OperatingLeaseExpenseMinimumContingent
2157000 USD
CY2021Q1 hpp Operating Lease Expense Minimum
OperatingLeaseExpenseMinimum
4991000 USD
CY2020Q1 hpp Operating Lease Expense Minimum
OperatingLeaseExpenseMinimum
4991000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13997000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
18663000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
18438000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
18392000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18392000 USD
CY2021Q1 hpp Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
515961000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
603843000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
334652000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
269191000 USD
CY2021Q1 us-gaap Derivative Assets
DerivativeAssets
10000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
5000 USD
CY2021Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
8255000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
10106000 USD
CY2021Q1 hpp Warrant Fair Value
WarrantFairValue
1906000 USD
CY2020Q4 hpp Warrant Fair Value
WarrantFairValue
0 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3538000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4895000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
879000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
985000 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
4417000 USD
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
5880000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4982000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10777000 USD
CY2021Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2020Q1 us-gaap Dilutive Securities
DilutiveSecurities
108000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4982000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10885000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150823605 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
154432602 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
317474 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3677310 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151141079 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158109912 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2021Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0 USD
CY2021Q1 hpp Stock Repurchased During Period Value Net
StockRepurchasedDuringPeriodValueNet
14700000 USD
CY2021Q1 hpp Stock Repurchased Cumulative Value
StockRepurchasedCumulativeValue
144900000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2021Q1 hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0.25
CY2021Q1 hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0.25
CY2020Q1 hpp Common Units Dividends Per Share Cash Paid
CommonUnitsDividendsPerShareCashPaid
0.25
CY2020Q1 hpp Common Units Dividends Per Share Declared
CommonUnitsDividendsPerShareDeclared
0.25
CY2021Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.3906
CY2020Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
0.3906
CY2021Q1 hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0.25
CY2021Q1 hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0.25
CY2020Q1 hpp Performance Units Dividends Per Share Declared
PerformanceUnitsDividendsPerShareDeclared
0.25
CY2020Q1 hpp Performance Units Dividends Per Share Cash Paid
PerformanceUnitsDividendsPerShareCashPaid
0.25
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 property
CY2021Q1 us-gaap Gross Profit
GrossProfit
135104000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
131717000 USD
CY2021Q1 us-gaap Revenues
Revenues
213119000 USD
CY2020Q1 us-gaap Revenues
Revenues
206227000 USD
CY2021Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
78015000 USD
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
74510000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
135104000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
131717000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
11411000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
13949000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18449000 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18618000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
82761000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
73763000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
635000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-236000 USD
CY2021Q1 hpp Fee Income Nonoperating
FeeIncomeNonoperating
848000 USD
CY2020Q1 hpp Fee Income Nonoperating
FeeIncomeNonoperating
610000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
30286000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
26417000 USD
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
997000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
314000 USD
CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1025000 USD
CY2021Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 USD
CY2020Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
102000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
5775000 USD
CY2020Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-581000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-452000 USD
CY2021Q1 us-gaap Gross Profit
GrossProfit
135104000 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
131717000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
17443000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
38126000 USD
CY2021Q1 hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
140709000 USD
CY2020Q1 hpp Accounts Payable And Accrued Liabilities For Investment In Property
AccountsPayableAndAccruedLiabilitiesForInvestmentInProperty
142919000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
113686000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46224000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
35854000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12034000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149540000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58258000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
134278000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
392136000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
35055000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11982000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169333000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
404118000 USD

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