2024 Q2 Form 10-Q Financial Statement
#000149524024000013 Filed on May 07, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| Revenue | $21.30M | $20.25M |
| YoY Change | 0.41% | -4.48% |
| Cost Of Revenue | $3.269M | $3.007M |
| YoY Change | 8.64% | -7.53% |
| Gross Profit | $18.03M | $17.25M |
| YoY Change | -0.95% | -3.93% |
| Gross Profit Margin | 84.65% | 85.15% |
| Selling, General & Admin | $1.351M | $1.195M |
| YoY Change | 7.56% | -12.58% |
| % of Gross Profit | 7.49% | 6.93% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $8.813M | $8.789M |
| YoY Change | -2.55% | -3.62% |
| % of Gross Profit | 48.89% | 50.97% |
| Operating Expenses | $13.43M | $12.99M |
| YoY Change | 30.42% | -5.57% |
| Operating Profit | $4.595M | $4.254M |
| YoY Change | -41.84% | 1.45% |
| Interest Expense | -$5.620M | $5.555M |
| YoY Change | -16.49% | -7.97% |
| % of Operating Profit | -122.31% | 130.58% |
| Other Income/Expense, Net | -$8.687M | $6.306M |
| YoY Change | -2486.54% | -210.73% |
| Pretax Income | -$823.0K | $13.57M |
| YoY Change | -110.48% | 675.26% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$823.0K | $13.57M |
| YoY Change | -147.65% | 675.26% |
| Net Earnings / Revenue | -3.86% | 66.99% |
| Basic Earnings Per Share | -$0.19 | $0.21 |
| Diluted Earnings Per Share | -$0.19 | $0.21 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 35.84M shares | 35.84M shares |
| Diluted Shares Outstanding | 35.84M shares | 35.84M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $49.76M | $51.56M |
| YoY Change | 3.21% | 33.12% |
| Cash & Equivalents | $49.76M | $51.56M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $49.76M | $51.56M |
| YoY Change | 3.21% | 33.12% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.225B | $1.235B |
| YoY Change | -6.42% | -6.2% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $5.600M | $5.700M |
| YoY Change | -3.45% | -1.72% |
| Other Assets | $0.00 | $0.00 |
| YoY Change | ||
| Total Long-Term Assets | $1.303B | $1.312B |
| YoY Change | -5.63% | -5.46% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $49.76M | $51.56M |
| Total Long-Term Assets | $1.303B | $1.312B |
| Total Assets | $1.353B | $1.364B |
| YoY Change | -5.33% | -4.41% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $11.24M | $8.401M |
| YoY Change | -20.27% | -13.16% |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $14.35M | $11.50M |
| YoY Change | -16.51% | -9.47% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $609.1M | $611.8M |
| YoY Change | -6.73% | -7.06% |
| Other Long-Term Liabilities | $20.62M | $16.91M |
| YoY Change | -12.42% | -17.88% |
| Total Long-Term Liabilities | $629.7M | $628.7M |
| YoY Change | -6.93% | -7.39% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $14.35M | $11.50M |
| Total Long-Term Liabilities | $629.7M | $628.7M |
| Total Liabilities | $644.1M | $640.2M |
| YoY Change | -7.17% | -7.43% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | $853.3M | $856.5M |
| YoY Change | 0.04% | 0.63% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $708.5M | $723.3M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.353B | $1.364B |
| YoY Change | -5.33% | -4.41% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$823.0K | $13.57M |
| YoY Change | -147.65% | 675.26% |
| Depreciation, Depletion And Amortization | $8.813M | $8.789M |
| YoY Change | -2.55% | -3.62% |
| Cash From Operating Activities | $15.91M | $3.420M |
| YoY Change | -10.92% | -27.45% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $841.0K | $1.478M |
| YoY Change | -70.18% | -48.52% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $64.00M |
| YoY Change | -100.0% | -44235.86% |
| Cash From Investing Activities | -$841.0K | $62.52M |
| YoY Change | -113.75% | -2172.91% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -16.87M | -$32.96M |
| YoY Change | 16.34% | 36.68% |
| NET CHANGE | ||
| Cash From Operating Activities | 15.91M | $3.420M |
| Cash From Investing Activities | -841.0K | $62.52M |
| Cash From Financing Activities | -16.87M | -$32.96M |
| Net Change In Cash | -1.798M | $32.98M |
| YoY Change | -118.97% | -247.16% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $15.91M | $3.420M |
| Capital Expenditures | $841.0K | $1.478M |
| Free Cash Flow | $15.07M | $1.942M |
| YoY Change | 0.19% | 5.37% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
48043098 | shares |
| CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
35838442 | shares |
| CY2024Q1 | us-gaap |
Revenues
Revenues
|
20252000 | usd |
| CY2024Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
8789000 | usd |
| CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
9119000 | usd |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
35838442 | shares |
| CY2024Q1 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
426000 | usd |
| CY2023Q1 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
0 | usd |
| CY2023Q1 | us-gaap |
Revenues
Revenues
|
21202000 | usd |
| CY2024Q1 | land |
Property Operating Expenses
PropertyOperatingExpenses
|
877000 | usd |
| CY2023Q1 | land |
Property Operating Expenses
PropertyOperatingExpenses
|
1128000 | usd |
| CY2024Q1 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
2156000 | usd |
| CY2023Q1 | us-gaap |
Management Fee Expense
ManagementFeeExpense
|
2149000 | usd |
| CY2024Q1 | land |
Administration Fee
AdministrationFee
|
603000 | usd |
| CY2023Q1 | land |
Administration Fee
AdministrationFee
|
575000 | usd |
| CY2024Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
566000 | usd |
| CY2023Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
786000 | usd |
| CY2024Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
12991000 | usd |
| CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
13757000 | usd |
| CY2024Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
2428000 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
2620000 | usd |
| CY2024Q1 | us-gaap |
Interest Expense
InterestExpense
|
5555000 | usd |
| CY2023Q1 | us-gaap |
Interest Expense
InterestExpense
|
6036000 | usd |
| CY2024Q1 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
755000 | usd |
| CY2023Q1 | us-gaap |
Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
|
755000 | usd |
| CY2024Q1 | us-gaap |
Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
|
10273000 | usd |
| CY2023Q1 | us-gaap |
Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
|
-481000 | usd |
| CY2024Q1 | land |
Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
|
0 | usd |
| CY2023Q1 | land |
Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
|
-1016000 | usd |
| CY2024Q1 | land |
Income Loss From Investments In Unconsolidated Entities
IncomeLossFromInvestmentsInUnconsolidatedEntities
|
-85000 | usd |
| CY2023Q1 | land |
Income Loss From Investments In Unconsolidated Entities
IncomeLossFromInvestmentsInUnconsolidatedEntities
|
-27000 | usd |
| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
6306000 | usd |
| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5695000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
13567000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
1750000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
13567000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1750000 | usd |
| CY2024Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
6118000 | usd |
| CY2023Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
6068000 | usd |
| CY2024Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
0 | usd |
| CY2023Q1 | us-gaap |
Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
|
2000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
7449000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4320000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.21 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.21 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.12 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.12 | |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
35838442 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35838442 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
35547397 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35547397 | shares |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
13567000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
1750000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
1008000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
-1648000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
14575000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
102000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
0 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
14575000 | usd |
| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
102000 | usd |
| CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
719613000 | usd |
| CY2024Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
6118000 | usd |
| CY2024Q1 | land |
Stockholders Equity Decrease From Distributions
StockholdersEquityDecreaseFromDistributions
|
5000000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
1008000 | usd |
| CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
723319000 | usd |
| CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
731362000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
12946000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
1750000 | usd |
| CY2023Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
6068000 | usd |
| CY2023Q1 | land |
Stockholders Equity Decrease From Distributions
StockholdersEquityDecreaseFromDistributions
|
4904000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-1648000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
734880000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
13567000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
1750000 | usd |
| CY2024Q1 | land |
Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
|
8789000 | usd |
| CY2023Q1 | land |
Depreciation Depletionand Amortization Excluding Operating Lease Rightof Use Asset Amortization Expenseand Debt Issuance Costs
DepreciationDepletionandAmortizationExcludingOperatingLeaseRightofUseAssetAmortizationExpenseandDebtIssuanceCosts
|
9119000 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
243000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
261000 | usd |
| CY2024Q1 | land |
Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
|
492000 | usd |
| CY2023Q1 | land |
Amortization Of Deferred Rent Asset And Liability Net
AmortizationOfDeferredRentAssetAndLiabilityNet
|
-32000 | usd |
| CY2024Q1 | land |
Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
|
-23000 | usd |
| CY2023Q1 | land |
Operating Lease Right Of Use Asset Operating Lease Liabilities Amortization Expense
OperatingLeaseRightOfUseAssetOperatingLeaseLiabilitiesAmortizationExpense
|
-23000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
-85000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
|
-27000 | usd |
| CY2024Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
12000 | usd |
| CY2023Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
32000 | usd |
| CY2024Q1 | us-gaap |
Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
|
10273000 | usd |
| CY2023Q1 | us-gaap |
Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
|
-481000 | usd |
| CY2024Q1 | land |
Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
|
0 | usd |
| CY2023Q1 | land |
Gain Loss On Business Interruption Insurance Recovery
GainLossOnBusinessInterruptionInsuranceRecovery
|
-1016000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
3750000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
2586000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-2904000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-6367000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-2864000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
990000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3420000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
4714000 | usd |
| CY2024Q1 | us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
1478000 | usd |
| CY2023Q1 | us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
2871000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
63997000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
|
145000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
62519000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3016000 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
22071000 | usd |
| CY2023Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
27570000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
11000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
0 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
284000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
14690000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
40000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
361000 | usd |
| CY2024Q1 | us-gaap |
Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
|
225000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
6117000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
5741000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
5000000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
4904000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-32955000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-24111000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
32984000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-22413000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
18571000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
61141000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
51555000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
38728000 | usd |
| CY2024Q1 | land |
Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
|
689000 | usd |
| CY2023Q1 | land |
Additions To Real Estate Included In Accounts Payable And Accrued Expenses And Contingent Consideration Owed
AdditionsToRealEstateIncludedInAccountsPayableAndAccruedExpensesAndContingentConsiderationOwed
|
712000 | usd |
| CY2024Q1 | land |
Tenant Funded Improvements Included Within Real Estate At Cost
TenantFundedImprovementsIncludedWithinRealEstateAtCost
|
0 | usd |
| CY2023Q1 | land |
Tenant Funded Improvements Included Within Real Estate At Cost
TenantFundedImprovementsIncludedWithinRealEstateAtCost
|
25000 | usd |
| CY2024Q1 | land |
Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
|
0 | usd |
| CY2023Q1 | land |
Common Stock Offering And Operating Partnership Unit Issuance Costs Included In Accounts Payable And Accrued Expenses
CommonStockOfferingAndOperatingPartnershipUnitIssuanceCostsIncludedInAccountsPayableAndAccruedExpenses
|
93000 | usd |
| CY2024Q1 | land |
Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
|
19000 | usd |
| CY2023Q1 | land |
Financing Fees Included In Accounts Payable And Accrued Liabilities
FinancingFeesIncludedInAccountsPayableAndAccruedLiabilities
|
0 | usd |
| CY2024Q1 | us-gaap |
Stock Issued1
StockIssued1
|
0 | usd |
| CY2023Q1 | us-gaap |
Stock Issued1
StockIssued1
|
320000 | usd |
| CY2024Q1 | 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, the results of which form the basis for making certain judgments. Actual results may materially differ from these estimates.</span></div> | |
| CY2024Q1 | land |
Number Of Real Estate Farms
NumberOfRealEstateFarms
|
168 | farm |
| CY2024Q1 | land |
Number Of Real Estate Farms
NumberOfRealEstateFarms
|
168 | farm |
| CY2024Q1 | us-gaap |
Area Of Real Estate Property
AreaOfRealEstateProperty
|
111836 | acre |
| CY2024Q1 | land |
Farmable Area Of Land
FarmableAreaOfLand
|
92397 | acre |
| CY2024Q1 | land |
Area Of Water
AreaOfWater
|
49076 | acre |
| CY2024Q1 | land |
Sec Schedule Iii Real Estate Investment Property Including Intangible Assets Net
SecScheduleIiiRealEstateInvestmentPropertyIncludingIntangibleAssetsNet
|
1279958000 | usd |
| CY2024Q1 | srt |
Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
|
554968000 | usd |
| CY2024Q1 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
2800000 | usd |
| CY2024Q1 | us-gaap |
Land And Land Improvements
LandAndLandImprovements
|
792310000 | usd |
| CY2023Q4 | us-gaap |
Land And Land Improvements
LandAndLandImprovements
|
792277000 | usd |
| CY2024Q1 | land |
Irrigation Equipment System
IrrigationEquipmentSystem
|
358535000 | usd |
| CY2023Q4 | land |
Irrigation Equipment System
IrrigationEquipmentSystem
|
359131000 | usd |
| CY2024Q1 | land |
Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
|
169639000 | usd |
| CY2023Q4 | land |
Real Estate And Accumulated Depreciation Carrying Amount Of Horticulture
RealEstateAndAccumulatedDepreciationCarryingAmountOfHorticulture
|
168545000 | usd |
| CY2024Q1 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
50508000 | usd |
| CY2023Q4 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
50517000 | usd |
| CY2024Q1 | land |
Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
|
13236000 | usd |
| CY2023Q4 | land |
Real Estate Other Site Improvements
RealEstateOtherSiteImprovements
|
13272000 | usd |
| CY2024Q1 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
1384228000 | usd |
| CY2023Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
1383742000 | usd |
| CY2024Q1 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
149608000 | usd |
| CY2023Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
142212000 | usd |
| CY2024Q1 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
1234620000 | usd |
| CY2023Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
1241530000 | usd |
| CY2024Q1 | us-gaap |
Depreciation
Depreciation
|
8500000 | usd |
| CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
8900000 | usd |
| CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
4449000 | usd |
| CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5141000 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
231000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
252000 | usd |
| CY2024Q1 | land |
Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
|
635000 | usd |
| CY2023Q1 | land |
Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
|
159000 | usd |
| CY2024Q1 | us-gaap |
Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
|
41000 | usd |
| CY2023Q1 | us-gaap |
Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
|
44000 | usd |
| CY2024Q1 | land |
Asset Acquisition Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
AssetAcquisitionProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
|
85000 | usd |
| CY2023Q1 | land |
Asset Acquisition Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
AssetAcquisitionProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
|
27000 | usd |
| CY2024Q1 | land |
Water Assets Fair Value Disclosure
WaterAssetsFairValueDisclosure
|
35400000 | usd |
| CY2024Q1 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
426000 | usd |
| CY2023Q1 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
0 | usd |
| CY2024Q1 | land |
Area Of Water
AreaOfWater
|
49076 | acre |
| CY2023Q4 | land |
Area Of Water
AreaOfWater
|
46400 | acre |
| CY2024Q1 | land |
Water Assets Fair Value Disclosure
WaterAssetsFairValueDisclosure
|
35400000 | usd |
| CY2023Q4 | land |
Water Assets Fair Value Disclosure
WaterAssetsFairValueDisclosure
|
34600000 | usd |
| CY2024Q1 | us-gaap |
Development In Process
DevelopmentInProcess
|
1500000 | usd |
| CY2024Q1 | land |
Development In Process Deferred
DevelopmentInProcessDeferred
|
2300000 | usd |
| CY2023Q4 | land |
Numberof Impaired Properties
NumberofImpairedProperties
|
0 | property |
| CY2024Q1 | land |
Numberof Impaired Properties
NumberofImpairedProperties
|
0 | property |
| CY2024Q1 | us-gaap |
Impairment Of Real Estate
ImpairmentOfRealEstate
|
0 | usd |
| CY2024Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
552154000 | usd |
| CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
574111000 | usd |
| CY2024Q1 | us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
2300000 | usd |
| CY2024Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
8374000 | usd |
| CY2023Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
7366000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
1008000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
-1648000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
1008000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
|
-1648000 | usd |
| CY2024Q1 | land |
Number Of Executive Officers Serving As Directors And Executive Officers Of Adviser And Administrator
NumberOfExecutiveOfficersServingAsDirectorsAndExecutiveOfficersOfAdviserAndAdministrator
|
2 | executive_officer |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.21 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.12 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.12 | |
| CY2024Q1 | land |
Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
|
0 | shares |
| CY2023Q1 | land |
Weighted Average Number Of Operating Partnership Units Held By Noncontrolling Interest
WeightedAverageNumberOfOperatingPartnershipUnitsHeldByNoncontrollingInterest
|
0 | shares |
| CY2024Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
19593000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
20960000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
|
233000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
|
242000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Lease Income
OperatingLeaseLeaseIncome
|
19826000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Lease Income
OperatingLeaseLeaseIncome
|
21202000 | usd |
| CY2024Q1 | us-gaap |
Payments For Rent
PaymentsForRent
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments For Rent
PaymentsForRent
|
195000 | usd |
| CY2024Q1 | land |
Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
|
233000 | usd |
| CY2023Q1 | land |
Operating Lease Lease Reimbursements
OperatingLeaseLeaseReimbursements
|
37000 | usd |
| CY2023Q1 | land |
Late Fee Expenses For Rent
LateFeeExpensesForRent
|
10000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
7449000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-4320000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
35838442 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35838442 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
35547397 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
35547397 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.21 | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |
