2016 Q1 Form 10-K Financial Statement

#000119312516473575 Filed on February 23, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2014 Q4
Revenue $3.683M $3.408M $2.346M
YoY Change 40.27% 45.3% 99.17%
Cost Of Revenue $570.0K $540.0K $1.800M
YoY Change 14.0% -70.0% 103.67%
Gross Profit $3.120M $2.870M $545.7K
YoY Change 47.17% 425.9% 85.66%
Gross Profit Margin 84.71% 84.21% 23.27%
Selling, General & Admin $640.0K $460.0K $490.0K
YoY Change 20.75% -6.12% 6.52%
% of Gross Profit 20.51% 16.03% 89.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $977.0K $800.0K $670.0K
YoY Change 23.42% 19.4% 219.05%
% of Gross Profit 31.31% 27.87% 122.77%
Operating Expenses $2.282M $1.856M $1.800M
YoY Change 36.58% 3.14% 168.65%
Operating Profit $1.400M $1.014M -$1.254M
YoY Change 46.67% -180.82% 233.51%
Interest Expense $1.255M -$1.200M -$730.0K
YoY Change 32.19% 64.38% 170.37%
% of Operating Profit 89.64% -118.39%
Other Income/Expense, Net -$1.160M -$1.184M -$484.7K
YoY Change 24.74% 144.31% 77.56%
Pretax Income $240.0K $367.9K $61.07K
YoY Change 876.61% 502.4% 191.04%
Income Tax $0.00 $6.399K
% Of Pretax Income 0.0% 10.48%
Net Earnings $234.0K $367.9K $54.67K
YoY Change 852.23% 572.91% -104.18%
Net Earnings / Revenue 6.35% 10.79% 2.33%
Basic Earnings Per Share
Diluted Earnings Per Share $23.02K $39.83K $6.452K
COMMON SHARES
Basic Shares Outstanding 9.993M shares 9.062M shares 7.754M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.200M $2.500M $2.600M
YoY Change 0.0% -3.85% -84.05%
Cash & Equivalents $2.193M $2.533M $2.619M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.200M $2.500M $2.600M
YoY Change 0.0% -3.85% -84.05%
LONG-TERM ASSETS
Property, Plant & Equipment $250.0M $221.8M $143.9M
YoY Change 51.52% 54.13% 91.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K $1.400M
YoY Change -92.31% -92.86% 366.67%
Total Long-Term Assets $254.8M $226.2M $149.1M
YoY Change 49.95% 51.7% 92.71%
TOTAL ASSETS
Total Short-Term Assets $2.200M $2.500M $2.600M
Total Long-Term Assets $254.8M $226.2M $149.1M
Total Assets $257.0M $228.7M $151.7M
YoY Change 49.31% 50.74% 61.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.700M $3.500M $1.900M
YoY Change 95.83% 84.21% 72.73%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.300M $4.100M $2.400M
YoY Change 112.0% 70.83% 84.62%
LONG-TERM LIABILITIES
Long-Term Debt $159.7M $141.7M $86.40M
YoY Change 49.67% 64.0% 100.0%
Other Long-Term Liabilities $8.400M $4.900M $2.900M
YoY Change 121.05% 68.97% 314.29%
Total Long-Term Liabilities $168.1M $146.6M $89.30M
YoY Change 52.13% 64.17% 103.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.300M $4.100M $2.400M
Total Long-Term Liabilities $168.1M $146.6M $89.30M
Total Liabilities $173.5M $150.7M $91.73M
YoY Change 53.66% 64.26% 103.12%
SHAREHOLDERS EQUITY
Retained Earnings -$9.860M -$8.895M -$5.405M
YoY Change 59.18% 64.58% 91.6%
Common Stock $87.50M $86.90M $65.37M
YoY Change 33.86% 32.93% 1001034.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $77.64M $78.01M $59.97M
YoY Change
Total Liabilities & Shareholders Equity $257.0M $228.7M $151.7M
YoY Change 49.31% 50.74% 61.95%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $234.0K $367.9K $54.67K
YoY Change 852.23% 572.91% -104.18%
Depreciation, Depletion And Amortization $977.0K $800.0K $670.0K
YoY Change 23.42% 19.4% 219.05%
Cash From Operating Activities $4.233M $450.0K $1.510M
YoY Change 1467.78% -70.2% 12.69%
INVESTING ACTIVITIES
Capital Expenditures -$20.93M -$9.770M -$31.51M
YoY Change 3.26% -68.99% -6.3%
Acquisitions
YoY Change
Other Investing Activities -$220.0K -$110.0K $360.0K
YoY Change -195.65% -130.56% 157.14%
Cash From Investing Activities -$21.15M -$9.880M -$31.14M
YoY Change 5.59% -68.27% -7.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $16.58M 9.250M 29.22M
YoY Change -14.24% -68.34% 223.23%
NET CHANGE
Cash From Operating Activities $4.233M 450.0K 1.510M
Cash From Investing Activities -$21.15M -9.880M -31.14M
Cash From Financing Activities $16.58M 9.250M 29.22M
Net Change In Cash -$340.0K -180.0K -410.0K
YoY Change -20.93% -56.1% -98.23%
FREE CASH FLOW
Cash From Operating Activities $4.233M $450.0K $1.510M
Capital Expenditures -$20.93M -$9.770M -$31.51M
Free Cash Flow $25.16M $10.22M $33.02M
YoY Change 22.51% -69.05% -5.58%

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ProceedsFromIssuanceOfSecuredDebt
13565000
CY2013 us-gaap Dividends
Dividends
9730093
CY2013 us-gaap Interest Expense
InterestExpense
1118640
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-38728605
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
54586766
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-743676
CY2013 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
153725
CY2013 us-gaap Management Fee Expense
ManagementFeeExpense
195609
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
548800
CY2013 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0
CY2013 us-gaap Professional Fees
ProfessionalFees
615879
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
90669
CY2013 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
56703960
CY2013 us-gaap Real Estate Improvements
RealEstateImprovements
1030923
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
722455
CY2013 us-gaap Incentive Fee Expense
IncentiveFeeExpense
41037
CY2013 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
37768162
CY2013 land Administration Fee Allocated Payroll And Benefits
AdministrationFeeAllocatedPayrollAndBenefits
14034
CY2013 land Related Party Transaction Credit From Voluntary Irrevocable
RelatedPartyTransactionCreditFromVoluntaryIrrevocable
41037
CY2013 land Ordinary Income As Percentage Of Distributions
OrdinaryIncomeAsPercentageOfDistributions
1.0000000 pure
CY2013 land Administration Fee
AdministrationFee
194464
CY2013 land Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.0000000 pure
CY2013 land Benefit From Real Estate Investment Trust Conversion
BenefitFromRealEstateInvestmentTrustConversion
743676
CY2013 land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
149403
CY2013 land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
175932
CY2013 land Income Tax Provision On Deferred Intercompany Gains
IncomeTaxProvisionOnDeferredIntercompanyGains
2100000
CY2013 land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
2680685
CY2013 land Annual Base Management Fee In Percentage Of Stockholders Equity In Excess Of Recorded Value Of Preferred Stock
AnnualBaseManagementFeeInPercentageOfStockholdersEquityInExcessOfRecordedValueOfPreferredStock
0.010 pure
CY2013 land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-68617
CY2013 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
0
CY2013 land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.036 pure
CY2013 land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
2721722
CY2013 land Proceeds From Refund On Deposits
ProceedsFromRefundOnDeposits
150000
CY2013 land Management Advisory Fee Allocated Payroll And Benefits
ManagementAdvisoryFeeAllocatedPayrollAndBenefits
38668
CY2013 land Management Advisory Fee Allocated Overhead Expenses
ManagementAdvisoryFeeAllocatedOverheadExpenses
7538
CY2014 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
0
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-125133
CY2013 land Administration Fee Allocated Overhead Expenses
AdministrationFeeAllocatedOverheadExpenses
4498
CY2013 land Related Party Transaction Prior Management Advisory Fee
RelatedPartyTransactionPriorManagementAdvisoryFee
46206
CY2013 land Related Party Transaction Prior Administration Fee
RelatedPartyTransactionPriorAdministrationFee
18532
CY2013 land Property Operating Expenses
PropertyOperatingExpenses
119463
CY2013 land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
309174
CY2013 land Credits To Fees From Adviser
CreditsToFeesFromAdviser
41037
CY2013 land Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.0000000 pure
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3543622
CY2014 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.360
CY2014 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
146534
CY2014 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y3M18D
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.000 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.269 pure
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6852917 shares
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.269 pure
CY2014 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
47520
CY2014 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1342151
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
120540
CY2014 us-gaap Interest Paid
InterestPaid
1431214
CY2014 us-gaap Payments Of Dividends
PaymentsOfDividends
2458802
CY2014 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
7170318
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
14041271
CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
950965
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
1599972
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
684782
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
27000
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1698603
CY2014 us-gaap Increase In Restricted Cash
IncreaseInRestrictedCash
3041
CY2014 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
350000
CY2014 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
132700
CY2014 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
7184922
CY2014 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1825404
CY2014 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
738754
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-98631
CY2014 us-gaap Tenant Reimbursements
TenantReimbursements
14604
CY2014 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
68626968
CY2014 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
13831669
CY2014 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
2619084
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
26502
CY2014 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
1264420
CY2015 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1482029
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
4568781
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
124023
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4000236
CY2014 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
3900000
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-13651940
CY2014 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
41188600
CY2014 us-gaap Dividends
Dividends
2458802
CY2014 us-gaap Interest Expense
InterestExpense
2009086
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-71334240
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
54138678
CY2014 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
520352
CY2014 us-gaap Management Fee Expense
ManagementFeeExpense
1079534
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1751964
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1180185
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
777159
CY2014 us-gaap Loss From Catastrophes
LossFromCatastrophes
232737
CY2014 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
53286
CY2014 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0
CY2014 us-gaap Professional Fees
ProfessionalFees
595163
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
350684
CY2014 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
15024003
CY2014 us-gaap Real Estate Improvements
RealEstateImprovements
2726734
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1735644
CY2014 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
67287231
CY2014 land Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
7767114
CY2014 land Percentage Of Rental Revenue
PercentageOfRentalRevenue
1.000 pure
CY2014 land Ordinary Income As Percentage Of Distributions
OrdinaryIncomeAsPercentageOfDistributions
0.9566078 pure
CY2014 land Administration Fee
AdministrationFee
442584
CY2014 land Number Of Farms Acquired
NumberOfFarmsAcquired
11 Farm
CY2014 land Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.0433922 pure
CY2014 land Insurance Proceeds Received Utilized For Repairs To Real Estate Assets
InsuranceProceedsReceivedUtilizedForRepairsToRealEstateAssets
89688
CY2014 land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
1079534
CY2014 land Insurance Proceeds Received Capitalized As Real Estate Asset Additions
InsuranceProceedsReceivedCapitalizedAsRealEstateAssetAdditions
344512
CY2014 land Percentage Of Expected Annual Base Management Fee To Aggregate Stockholders Equity
PercentageOfExpectedAnnualBaseManagementFeeToAggregateStockholdersEquity
0.020 pure
CY2014 land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
442584
CY2014 land Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.18
CY2014 land Business Acquisitions Pro Forma Net Income Loss Before Income Tax
BusinessAcquisitionsProFormaNetIncomeLossBeforeIncomeTax
1368653
CY2014 land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
5584950
CY2014 land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-194267
CY2014 land Number Of Farms Acquired Not Covered Under Business Combination
NumberOfFarmsAcquiredNotCoveredUnderBusinessCombination
11 Farm
CY2014 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
9027
CY2014 land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000 pure
CY2014 land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.036 pure
CY2014 land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
5584950
CY2014 land Number Of Real Estate Farms
NumberOfRealEstateFarms
32 Farm
CY2014 land Proceeds From Refund On Deposits
ProceedsFromRefundOnDeposits
50000
CY2014 land Follow On Lease Number Of Renewal Options
FollowOnLeaseNumberOfRenewalOptions
1 Renewal_Options
CY2014 land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
44313
CY2014 land Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
26502
CY2014 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
0
CY2014 land Business Acquisitions Pro Forma Other Expense
BusinessAcquisitionsProFormaOtherExpense
4695902
CY2014 land Business Acquisition Pro Forma Weighted Average Number Of Common Shares Outstanding Basic And Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
7608416 shares
CY2014 land Property Operating Expenses
PropertyOperatingExpenses
434514
CY2014 land Offering Costs Included In Accounts Payable And Accrued Expenses
OfferingCostsIncludedInAccountsPayableAndAccruedExpenses
141967
CY2014 land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
81072
CY2014 land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
262963
CY2014 land Real Estate Additions Included In Other Liabilities
RealEstateAdditionsIncludedInOtherLiabilities
585947
CY2014 land Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.0000000 pure
CY2014 land Real Estate Additions Included In Other Assets
RealEstateAdditionsIncludedInOtherAssets
61500
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
4753835
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.465
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
178617
CY2015 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P6Y2M12D
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.07
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001495240
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000 pure
CY2015 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.000 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.000 pure
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
GLADSTONE LAND Corp
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
50000
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-132741
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Certain line items on the <i>Consolidated Balance Sheet</i> as of December&#xA0;31, 2014, and the <i>Consolidated Statements of Operations</i> for the years ended December&#xA0;31, 2014 and 2013 have been reclassified to conform to the current period&#x2019;s presentation. These reclassifications had no impact on previously-reported stockholders&#x2019; equity or net income (loss).</p> </div>
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in accordance 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 as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates.</p> </div>
CY2015 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
10219
CY2015 dei Trading Symbol
TradingSymbol
LAND
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8639397 shares
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2015 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2020-06-30
CY2015 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
0
CY2015 us-gaap Net Income Loss
NetIncomeLoss
568545
CY2015 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
48531
CY2015 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1850392
CY2015 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
68645
CY2015 us-gaap Interest Paid
InterestPaid
3262993
CY2015 us-gaap Payments Of Dividends
PaymentsOfDividends
4059179
CY2015 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
11888091
CY2015 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
14483
CY2015 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
21528025
CY2015 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
11901461
CY2015 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
625680
CY2015 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
273003
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
568545
CY2015 us-gaap Tenant Reimbursements
TenantReimbursements
13370
CY2015 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
1150000
CY2015 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
74448512
CY2015 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
13993765
CY2015 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3246646
CY2015 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
2203122
CY2015 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-3900000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-86820
CY2015 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
60841476
CY2015 us-gaap Dividends
Dividends
4059179
CY2015 us-gaap Interest Expense
InterestExpense
4160482
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-78475150
CY2015 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
73634495
CY2015 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
467048
CY2015 us-gaap Management Fee Expense
ManagementFeeExpense
1343384
CY2015 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
843065
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
523781
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
846238
CY2015 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
106806
CY2015 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0
CY2015 us-gaap Professional Fees
ProfessionalFees
474797
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
841726
CY2015 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
23132910
CY2015 us-gaap Real Estate Improvements
RealEstateImprovements
5036926
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3113492
CY2015 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
75078078
CY2015 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6504
CY2015 land Maximum Management Advisory Fee As Percentage Of Average Invested Assets
MaximumManagementAdvisoryFeeAsPercentageOfAverageInvestedAssets
0.020 pure
CY2015 land Business Acquisitions Pro Forma Operating Expenses
BusinessAcquisitionsProFormaOperatingExpenses
7282204
CY2015 land Related Party Transaction Credit From Voluntary Irrevocable
RelatedPartyTransactionCreditFromVoluntaryIrrevocable
320905
CY2015 land Incentive Fee Per Advisory Agreement
IncentiveFeePerAdvisoryAgreement
0.0175 pure
CY2015 land Percentage Of Rental Revenue
PercentageOfRentalRevenue
1.000 pure
CY2015 land Ordinary Income As Percentage Of Distributions
OrdinaryIncomeAsPercentageOfDistributions
0.6229540 pure
CY2015 land Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Hundred Percent Of Amount Of Pre Incentive Fee Maximum Percentage
PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserHundredPercentOfAmountOfPreIncentiveFeeMaximumPercentage
0.021875 pure
CY2015 land Administration Fee
AdministrationFee
679590
CY2015 land Number Of Farms Acquired
NumberOfFarmsAcquired
11 Farm
CY2015 land Percentage Of Return Of Capital
PercentageOfReturnOfCapital
0.3734781 pure
CY2015 land Insurance Proceeds Received Utilized For Repairs To Real Estate Assets
InsuranceProceedsReceivedUtilizedForRepairsToRealEstateAssets
9965
CY2015 land Related Party Transaction Amended Base Management Fee
RelatedPartyTransactionAmendedBaseManagementFee
1343384
CY2015 land Number Of Properties Recoverable
NumberOfPropertiesRecoverable
2 Property
CY2015 land Insurance Proceeds Received Capitalized As Real Estate Asset Additions
InsuranceProceedsReceivedCapitalizedAsRealEstateAssetAdditions
87267
CY2015 land Related Party Transaction Amended Administration Fee
RelatedPartyTransactionAmendedAdministrationFee
679590
CY2015 land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo
0.20 pure
CY2015 land Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.20
CY2015 land Business Acquisitions Pro Forma Net Income Loss Before Income Tax
BusinessAcquisitionsProFormaNetIncomeLossBeforeIncomeTax
1850392
CY2015 land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
1.00 pure
CY2015 land Estimated Net Increase Decrease In Rental Revenue
EstimatedNetIncreaseDecreaseInRentalRevenue
167386
CY2015 land Operating Expenses Net Of Credit To Incentive Fee
OperatingExpensesNetOfCreditToIncentiveFee
7332680
CY2015 land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-200783
CY2015 land Estimated Net Increase Decrease In Rental Revenue In Three Years
EstimatedNetIncreaseDecreaseInRentalRevenueInThreeYears
23845
CY2015 land Estimated Net Increase Decrease In Rental Revenue In Two Years
EstimatedNetIncreaseDecreaseInRentalRevenueInTwoYears
22814
CY2015 land Estimated Net Increase Decrease In Rental Revenue In Five Years
EstimatedNetIncreaseDecreaseInRentalRevenueInFiveYears
29324
CY2015 land Estimated Net Increase Decrease In Rental Revenue In Four Years
EstimatedNetIncreaseDecreaseInRentalRevenueInFourYears
29323
CY2015 land Number Of Farms Acquired Not Covered Under Business Combination
NumberOfFarmsAcquiredNotCoveredUnderBusinessCombination
11 Farm
CY2015 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
16934
CY2015 land Percentage Of Area Of Land
PercentageOfAreaOfLand
1.000 pure
CY2015 land Percentage Of Distributions Classified As Qualified Dividends
PercentageOfDistributionsClassifiedAsQualifiedDividends
0.9853746 pure
CY2015 land Debt Instrument Weighted Average Interest Rate
DebtInstrumentWeightedAverageInterestRate
0.034 pure
CY2015 land Operating Expenses Before Credit To Incentive Fee
OperatingExpensesBeforeCreditToIncentiveFee
7653585
CY2015 land Estimated Net Increase Decrease In Rental Revenue Thereafter
EstimatedNetIncreaseDecreaseInRentalRevenueThereafter
32756
CY2015 land Annualized Incentive Fee Per Advisory Agreement
AnnualizedIncentiveFeePerAdvisoryAgreement
0.07 pure
CY2015 land Number Of Real Estate Farms
NumberOfRealEstateFarms
43 Farm
CY2015 land Maximum Payroll And Benefits Reimbursed As Percentage Of Average Invested Assets
MaximumPayrollAndBenefitsReimbursedAsPercentageOfAverageInvestedAssets
0.020 pure
CY2015 land Proceeds From Refund On Deposits
ProceedsFromRefundOnDeposits
200000
CY2015 land Estimated Net Increase Decrease In Rental Revenue Current
EstimatedNetIncreaseDecreaseInRentalRevenueCurrent
29324
CY2015 land Overhead Expense Reimbursements Limitation Period
OverheadExpenseReimbursementsLimitationPeriod
P1Y
CY2015 land Maximum Overhead Expenses As Percentage Of Average Invested Assets
MaximumOverheadExpensesAsPercentageOfAverageInvestedAssets
0.020 pure
CY2015 land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
25120
CY2015 land Pre Incentive Fee In Percentage Of Common Stockholders Equity That Awards Adviser Twenty Percent Of Amount Of Pre Incentive Fee Minimum Percentage
PreIncentiveFeeInPercentageOfCommonStockholdersEquityThatAwardsAdviserTwentyPercentOfAmountOfPreIncentiveFeeMinimumPercentage
0.021875 pure
CY2015 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
0
CY2015 land Business Acquisitions Pro Forma Other Expense
BusinessAcquisitionsProFormaOtherExpense
4861169
CY2015 land Business Acquisition Pro Forma Weighted Average Number Of Common Shares Outstanding Basic And Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfCommonSharesOutstandingBasicAndDiluted
9216469 shares
CY2015 land Property Operating Expenses
PropertyOperatingExpenses
729036
CY2015 land Offering Costs Included In Accounts Payable And Accrued Expenses
OfferingCostsIncludedInAccountsPayableAndAccruedExpenses
225684
CY2015 land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
1157347
CY2015 land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
97232
CY2015 land Credits To Fees From Adviser
CreditsToFeesFromAdviser
320905
CY2015 land Real Estate Additions Included In Other Liabilities
RealEstateAdditionsIncludedInOtherLiabilities
1572365
CY2015 land Capital Gain From Installation Of Natural Gas
CapitalGainFromInstallationOfNaturalGas
14483
CY2015 land Consideration Received From Installation Of Natural Gas
ConsiderationReceivedFromInstallationOfNaturalGas
17021
CY2015 land Percentage Of Long Term Capital Gain
PercentageOfLongTermCapitalGain
0.0035679 pure
CY2015 land Maximum Annual Percentage Of Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875 pure
CY2015 land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
-320905
CY2013Q1 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
41037
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6530264 shares
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
20918
CY2014Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-367643
CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
1495636
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
27541
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6623
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
1100452
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7753717 shares
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
24574
CY2015Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-929939
CY2015Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
2625724
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
24574
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
1671211
CY2015Q1 land Related Party Transaction Incentive Fee
RelatedPartyTransactionIncentiveFee
41037
CY2015Q1 land Deferred Rent Asset And Rental Income Written Off
DeferredRentAssetAndRentalIncomeWrittenOff
40022
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6530264 shares
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-301094
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-651948
CY2014Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
1565935
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-294471
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6623
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
1208458
CY2014Q2 land Number Of Properties Damaged In Fire
NumberOfPropertiesDamagedInFire
2 Property
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8439855 shares
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-30289
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-924960
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
2783853
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-30289
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
1889182
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
6605264 shares
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
100375
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-194351
CY2014Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
1777675
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
107232
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6857
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
1476092
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9060314 shares
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
206395
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-961258
CY2015Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
3083553
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
206395
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
1915900
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7735354 shares
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
54668
CY2014Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-484661
CY2014Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
2345676
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
61067
CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6399
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
1799948
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2015Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
9282280 shares
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
367865
CY2015Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1184079
CY2015Q4 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
3408331
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
367865
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
1856387

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