2021 Q4 Form 10-Q Financial Statement

#000149524021000024 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $22.80M $19.59M $13.99M
YoY Change 50.79% 40.05% 27.03%
Cost Of Revenue $2.317M $2.422M $1.370M
YoY Change 59.79% 76.79% -1.44%
Gross Profit $20.48M $17.17M $12.62M
YoY Change 49.84% 36.05% 31.05%
Gross Profit Margin 89.84% 87.64% 90.21%
Selling, General & Admin $2.785M $1.841M $1.580M
YoY Change 47.35% 16.52% 105.19%
% of Gross Profit 13.6% 10.72% 12.52%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.903M $6.944M $3.909M
YoY Change 69.96% 77.64% 14.33%
% of Gross Profit 38.58% 40.44% 30.97%
Operating Expenses $10.69M $11.21M $6.858M
YoY Change 63.43% 63.41% 23.01%
Operating Profit $9.795M $5.962M $5.762M
YoY Change 37.38% 3.47% 42.1%
Interest Expense -$7.196M $6.126M $5.202M
YoY Change 21.14% 17.76% 18.2%
% of Operating Profit -73.47% 102.75% 90.28%
Other Income/Expense, Net $17.00K -$6.881M -$5.550M
YoY Change -91.5% 23.98% 12.94%
Pretax Income $1.988M $1.503M $1.580M
YoY Change 2108.89% -4.87% 203.85%
Income Tax
% Of Pretax Income
Net Earnings $1.977M $1.495M $1.568M
YoY Change 1697.27% -4.66% 203.29%
Net Earnings / Revenue 8.67% 7.63% 11.21%
Basic Earnings Per Share -$0.05 -$0.04
Diluted Earnings Per Share $58.52K -$0.05 -$0.04
COMMON SHARES
Basic Shares Outstanding 34.21M shares 31.36M shares 21.99M shares
Diluted Shares Outstanding 31.36M shares 21.99M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.71M $66.49M $6.500M
YoY Change 81.61% 922.94% 62.5%
Cash & Equivalents $16.71M $66.49M $6.455M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $16.71M $66.49M $6.500M
YoY Change 81.61% 922.94% 62.5%
LONG-TERM ASSETS
Property, Plant & Equipment $1.284B $1.157B $858.8M
YoY Change 22.76% 34.71% 15.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.100M $1.100M $900.0K
YoY Change 158.33% 22.22%
Other Assets
YoY Change
Total Long-Term Assets $1.335B $1.195B $871.9M
YoY Change 26.16% 37.1% 15.78%
TOTAL ASSETS
Total Short-Term Assets $16.71M $66.49M $6.500M
Total Long-Term Assets $1.335B $1.195B $871.9M
Total Assets $1.352B $1.262B $878.4M
YoY Change 26.63% 43.66% 16.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.87M $8.409M $12.00M
YoY Change 19.49% -29.93% 71.43%
Accrued Expenses $664.0K
YoY Change 564.0%
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 $15.76M $11.59M $14.30M
YoY Change 34.72% -18.95% 70.24%
LONG-TERM LIABILITIES
Long-Term Debt $726.7M $704.7M $532.1M
YoY Change 11.33% 32.43% 10.76%
Other Long-Term Liabilities $20.04M $20.14M $14.70M
YoY Change 4.94% 36.99% -2.0%
Total Long-Term Liabilities $746.7M $724.8M $546.8M
YoY Change 11.15% 32.55% 10.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.76M $11.59M $14.30M
Total Long-Term Liabilities $746.7M $724.8M $546.8M
Total Liabilities $762.5M $736.4M $561.1M
YoY Change 11.56% 31.25% 11.38%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $668.3M $598.7M $368.5M
YoY Change 51.72% 62.48% 28.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $586.8M $523.3M $317.3M
YoY Change
Total Liabilities & Shareholders Equity $1.352B $1.262B $878.4M
YoY Change 26.63% 43.66% 16.03%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $1.977M $1.495M $1.568M
YoY Change 1697.27% -4.66% 203.29%
Depreciation, Depletion And Amortization $7.903M $6.944M $3.909M
YoY Change 69.96% 77.64% 14.33%
Cash From Operating Activities $12.02M $3.391M $1.650M
YoY Change -10.36% 105.52% -82.88%
INVESTING ACTIVITIES
Capital Expenditures -$145.3M -$63.45M -$40.82M
YoY Change -26.26% 55.44% -73.85%
Acquisitions
YoY Change
Other Investing Activities -$179.0K -$1.100M $300.0K
YoY Change -10.5% -466.67% -60.0%
Cash From Investing Activities -$145.5M -$64.55M -$40.52M
YoY Change -26.25% 59.31% -73.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 83.70M 60.86M 20.54M
YoY Change -55.16% 196.31% -83.02%
NET CHANGE
Cash From Operating Activities 12.02M 3.391M 1.650M
Cash From Investing Activities -145.5M -64.55M -40.52M
Cash From Financing Activities 83.70M 60.86M 20.54M
Net Change In Cash -49.78M -298.0K -18.33M
YoY Change -1897.22% -98.37% -25.85%
FREE CASH FLOW
Cash From Operating Activities $12.02M $3.391M $1.650M
Capital Expenditures -$145.3M -$63.45M -$40.82M
Free Cash Flow $157.3M $66.84M $42.47M
YoY Change -25.25% 57.39% -74.38%

Facts In Submission

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CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3111000 USD
CY2021Q3 land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
4283000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
357000 USD
CY2021Q3 land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
525447000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
383790000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
248000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
3970000 USD
us-gaap Profit Loss
ProfitLoss
1526000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
8814000 USD
land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
11960000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
513000 USD
land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
525447000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
306383000 USD
CY2020Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
1581000 USD
CY2020Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2361000 USD
CY2020Q3 land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
2967000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
95000 USD
CY2020Q3 land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
317315000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
278970000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
0 USD
us-gaap Profit Loss
ProfitLoss
4864000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
6749000 USD
land Stockholders Equity Decreasefrom Distributions
StockholdersEquityDecreasefromDistributions
8759000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1331000 USD
land Noncontrolling Interest Increase Decrease From Changes In Ownership Of Subsidiary
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnershipOfSubsidiary
0 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
317315000 USD
us-gaap Profit Loss
ProfitLoss
1526000 USD
us-gaap Profit Loss
ProfitLoss
4864000 USD
land Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
19280000 USD
land Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
12010000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
905000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
559000 USD
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-397000 USD
land Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
-212000 USD
land Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
-10000 USD
land Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
12000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-42000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
7000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12000 USD
us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
-1841000 USD
us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
-861000 USD
CY2021Q3 land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
0 USD
land Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
68000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
5761000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3192000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1652000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1663000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1247000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1559000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20356000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11593000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
144253000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
64658000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
3373000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
10725000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
247000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
1875000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
550000 USD
land Insurance Proceeds Capitalized As Real Estate Additions
InsuranceProceedsCapitalizedAsRealEstateAdditions
0 USD
land Insurance Proceeds Capitalized As Real Estate Additions
InsuranceProceedsCapitalizedAsRealEstateAdditions
66000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-149501000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75620000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
161318000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
55231000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4359000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3636000 USD
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
60375000 USD
us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
40683000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
20781000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
18816000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
10599000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
19000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
7500000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2455000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
497000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
9370000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
6546000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
65000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
68000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11895000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8691000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
186418000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56794000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57273000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7233000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9218000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13688000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
66491000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6455000 USD
land Noncash Or Part Noncash Divestitures Noncontrolling Interest In Operating Partnerships
NoncashOrPartNoncashDivestituresNoncontrollingInterestInOperatingPartnerships
3970000 USD
land Noncash Or Part Noncash Divestitures Noncontrolling Interest In Operating Partnerships
NoncashOrPartNoncashDivestituresNoncontrollingInterestInOperatingPartnerships
0 USD
land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
670000 USD
land Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
5363000 USD
land Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
6000 USD
land Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
0 USD
land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
57000 USD
land Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
16000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Noncontrolling Interest
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxNoncontrollingInterest
987000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Noncontrolling Interest
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxNoncontrollingInterest
-1721000 USD
us-gaap Stock Issued1
StockIssued1
106000 USD
us-gaap Stock Issued1
StockIssued1
1000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:15pt"><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="margin-top:6pt"><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 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. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, including the impact of extraordinary events, such as the novel coronavirus (“COVID-19”) pandemic, the results of which form the basis for making certain judgments. Actual results may materially differ from these estimates.</span></div>
land Number Of Real Estate Farms
NumberOfRealEstateFarms
158 farm
land Number Of Real Estate Farms
NumberOfRealEstateFarms
158 farm
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
106798 acre
CY2021Q3 land Farmable Area Of Land
FarmableAreaOfLand
88200 acre
CY2021Q3 land Sec Schedule Iii Real Estate Investment Property Including Intangible Assets Net
SecScheduleIiiRealEstateInvestmentPropertyIncludingIntangibleAssetsNet
1178621000 USD
CY2021Q3 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
649557000 USD
CY2021Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
769384000 USD
CY2020Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
713333000 USD
CY2021Q3 land Irrigation Equipment System
IrrigationEquipmentSystem
250099000 USD
CY2020Q4 land Irrigation Equipment System
IrrigationEquipmentSystem
202420000 USD
CY2021Q3 land Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
147210000 USD
CY2020Q4 land Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
141408000 USD
CY2021Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
45493000 USD
CY2021Q3 land Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
11749000 USD
CY2020Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
28146000 USD
CY2020Q4 land Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
10132000 USD
CY2021Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1223935000 USD
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1095439000 USD
CY2021Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
67007000 USD
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
49236000 USD
CY2021Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1156928000 USD
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1046203000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
6600000 USD
us-gaap Depreciation
Depreciation
18300000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
3600000 USD
us-gaap Depreciation
Depreciation
10600000 USD
CY2021Q3 us-gaap Tenant Improvements
TenantImprovements
2100000 USD
CY2020Q4 us-gaap Tenant Improvements
TenantImprovements
2000000 USD
CY2021Q3 land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
88000 USD
land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
282000 USD
CY2020Q3 land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
76000 USD
land Tenant Improvements Depreciationand Rental Revenue
TenantImprovementsDepreciationandRentalRevenue
228000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3689000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3501000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
294000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 USD
CY2021Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
47000 USD
CY2020Q3 land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
32000 USD
land Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
94000 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
296000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
983000 USD
CY2021Q3 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
62000 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
161000 USD
CY2020Q3 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
28000 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
78000 USD
CY2021Q3 land Asset Acquisition Pro Forma Information Revenueof Acquireesince Acquisition Date Actual
AssetAcquisitionProFormaInformationRevenueofAcquireesinceAcquisitionDateActual
1800000 USD
land Asset Acquisition Pro Forma Information Revenueof Acquireesince Acquisition Date Actual
AssetAcquisitionProFormaInformationRevenueofAcquireesinceAcquisitionDateActual
2600000 USD
CY2021Q3 land Asset Acquisition Pro Forma Information Earningsor Lossof Acquireesince Acquisition Date Actual
AssetAcquisitionProFormaInformationEarningsorLossofAcquireesinceAcquisitionDateActual
646000 USD
land Asset Acquisition Pro Forma Information Earningsor Lossof Acquireesince Acquisition Date Actual
AssetAcquisitionProFormaInformationEarningsorLossofAcquireesinceAcquisitionDateActual
1000000 USD
land Asset Acquisition Assets Acquiredand Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredandLiabilitiesAssumedNet
146100000 USD
land Asset Acquisition Assets Acquiredand Liabilities Assumed Net
AssetAcquisitionAssetsAcquiredandLiabilitiesAssumedNet
64348000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-42000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000 USD
CY2021Q3 land Numberof Impaired Properties
NumberofImpairedProperties
0 property
CY2020Q4 land Numberof Impaired Properties
NumberofImpairedProperties
0 property
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
646067000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
624061000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-987000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1500000 USD
CY2021Q3 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
357000 USD
CY2020Q3 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
95000 USD
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
513000 USD
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
-1331000 USD
CY2021Q3 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
357000 USD
CY2020Q3 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
95000 USD
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
513000 USD
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
-1331000 USD
CY2021Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
850000 shares
land Number Of Executive Officers Serving As Directors And Executive Officers Of Adviser And Administrator
NumberOfExecutiveOfficersServingAsDirectorsAndExecutiveOfficersOfAdviserAndAdministrator
2 executiveOfficer
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition One
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionOne
1
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
land Maximum Annual Percentage Of Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875
land Amount To Be Paid To Adviser In Percentage Of Pre Incentive Fee Condition Two
AmountToBePaidToAdviserInPercentageOfPreIncentiveFeeConditionTwo
0.20
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
land Maximum Annual Percentage Of Stockholders Equity To Pay Full Pre Incentive Fee To Adviser
MaximumAnnualPercentageOfStockholdersEquityToPayFullPreIncentiveFeeToAdviser
0.0875
land Percentageof Incentive Feeson Capital Gains
PercentageofIncentiveFeesonCapitalGains
0.15
land Notice Period For Termination Of Agreement Without Cause
NoticePeriodForTerminationOfAgreementWithoutCause
P120D
CY2021Q3 land Termination Agreement Multiplier For Average Annual Base Management Fee
TerminationAgreementMultiplierForAverageAnnualBaseManagementFee
3
land Termination Agreement Period Prior To Termination
TerminationAgreementPeriodPriorToTermination
P24M
CY2021Q3 us-gaap Management Fee Expense
ManagementFeeExpense
1748000 USD
CY2020Q3 us-gaap Management Fee Expense
ManagementFeeExpense
1078000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
4494000 USD
us-gaap Management Fee Expense
ManagementFeeExpense
3159000 USD
CY2021Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
945000 USD
CY2020Q3 us-gaap Incentive Fee Expense
IncentiveFeeExpense
821000 USD
us-gaap Incentive Fee Expense
IncentiveFeeExpense
2107000 USD
us-gaap Incentive Fee Expense
IncentiveFeeExpense
2155000 USD
CY2021Q3 land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
2693000 USD
CY2020Q3 land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
1899000 USD
land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
6601000 USD
land Related Party Transaction Net Incentive Fees Paid And Credits Received
RelatedPartyTransactionNetIncentiveFeesPaidAndCreditsReceived
5314000 USD
CY2021Q3 land Administration Fee
AdministrationFee
412000 USD
CY2020Q3 land Administration Fee
AdministrationFee
344000 USD
land Administration Fee
AdministrationFee
1115000 USD
land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
3368000 USD
CY2021Q3 land Financing Fee
FinancingFee
12000 USD
land Administration Fee
AdministrationFee
1084000 USD
CY2021Q3 land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
1213000 USD
CY2020Q3 land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
598000 USD
land Selling Commissionsand Dealer Manager Fees
SellingCommissionsandDealerManagerFees
3165000 USD
CY2020Q3 land Financing Fee
FinancingFee
7000 USD
land Financing Fee
FinancingFee
64000 USD
land Financing Fee
FinancingFee
30000 USD
CY2021Q3 land Management Feesand Financing Fees
ManagementFeesandFinancingFees
1225000 USD
CY2020Q3 land Management Feesand Financing Fees
ManagementFeesandFinancingFees
605000 USD
land Management Feesand Financing Fees
ManagementFeesandFinancingFees
3229000 USD
land Management Feesand Financing Fees
ManagementFeesandFinancingFees
3398000 USD
CY2021Q3 land Management Fee Due To Adviser
ManagementFeeDueToAdviser
1748000 USD
CY2020Q4 land Management Fee Due To Adviser
ManagementFeeDueToAdviser
1130000 USD
CY2021Q3 land Incentive Feedueto Advisor
IncentiveFeeduetoAdvisor
945000 USD
CY2020Q4 land Due To From Adviser
DueToFromAdviser
2031000 USD
CY2020Q4 land Incentive Feedueto Advisor
IncentiveFeeduetoAdvisor
883000 USD
CY2021Q3 land Other Due To Advisor
OtherDueToAdvisor
76000 USD
CY2020Q4 land Other Due To Advisor
OtherDueToAdvisor
18000 USD
CY2021Q3 land Due To From Adviser
DueToFromAdviser
2769000 USD
CY2021Q3 land Administrative Fee Due To Administrator
AdministrativeFeeDueToAdministrator
412000 USD
CY2020Q4 land Administrative Fee Due To Administrator
AdministrativeFeeDueToAdministrator
363000 USD
CY2021Q3 land Cumulative Accruedbut Unpaid Priorto Administrative Fee Due To Administrator
CumulativeAccruedbutUnpaidPriortoAdministrativeFeeDueToAdministrator
0 USD
CY2020Q4 land Cumulative Accruedbut Unpaid Priorto Administrative Fee Due To Administrator
CumulativeAccruedbutUnpaidPriortoAdministrativeFeeDueToAdministrator
75000 USD
CY2021Q3 land Fee Due To Administrator
FeeDueToAdministrator
412000 USD
CY2020Q4 land Fee Due To Administrator
FeeDueToAdministrator
438000 USD
CY2021Q3 land Due To Related Parties Miscellaneous Costs
DueToRelatedPartiesMiscellaneousCosts
0 USD
CY2020Q4 land Due To Related Parties Miscellaneous Costs
DueToRelatedPartiesMiscellaneousCosts
15000 USD
CY2021Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
3181000 USD
CY2020Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2484000 USD
land Number Of Leases
NumberOfLeases
3 lease
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
33000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
70000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
70000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
70000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
40000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
40000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
600000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
923000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
266000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
657000 USD
CY2021Q3 land Finance Lease Cost
FinanceLeaseCost
22000 USD
land Finance Lease Cost
FinanceLeaseCost
58000 USD
CY2020Q3 land Finance Lease Cost
FinanceLeaseCost
12000 USD
land Finance Lease Cost
FinanceLeaseCost
35000 USD
land Partners Capital Account Units Issued
PartnersCapitalAccountUnitsIssued
204778 USD
CY2021Q3 us-gaap Mandatorily Redeemable Preferred Stock Fair Value Disclosure
MandatorilyRedeemablePreferredStockFairValueDisclosure
4000000 USD
land Partners Capital Account Weighted Average Issuance Price
PartnersCapitalAccountWeightedAverageIssuancePrice
19.42
CY2020Q3 land Partners Capital Account Units Issued
PartnersCapitalAccountUnitsIssued
144151 USD
land Partners Capital Account Units Issued
PartnersCapitalAccountUnitsIssued
288303 USD
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
17791000 USD
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
12838000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
50607000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
37450000 USD
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1800000 USD
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1151000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1911000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4457000 USD
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
19591000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
13989000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
52518000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41907000 USD
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
1800000 USD
us-gaap Payments For Rent
PaymentsForRent
1800000 USD
CY2021Q3 land Tenant Reimbursements
TenantReimbursements
0 USD
land Tenant Reimbursements
TenantReimbursements
66000 USD
CY2020Q3 us-gaap Payments For Rent
PaymentsForRent
1100000 USD
us-gaap Payments For Rent
PaymentsForRent
1200000 USD
CY2020Q3 land Tenant Reimbursements
TenantReimbursements
19000 USD
land Tenant Reimbursements
TenantReimbursements
441000 USD
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
3000000 USD
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1981000 USD
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31362423 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1639000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-837000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7319000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31362423 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21991291 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21991291 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29215628 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29215628 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21558859 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21558859 shares
land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
175981 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
CY2021Q3 land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
204778 shares
land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
153021 shares
CY2020Q3 land Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
16452 shares

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