2021 Q3 Form 10-Q Financial Statement

#000164587321000219 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $10.31M $9.557M
YoY Change 7.85% 56.01%
Cost Of Revenue $1.658M $1.680M
YoY Change -1.28%
Gross Profit $8.649M $7.880M
YoY Change 9.76%
Gross Profit Margin 83.91% 82.45%
Selling, General & Admin $3.674M $2.520M
YoY Change 45.8%
% of Gross Profit 42.48% 31.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.814M $4.300M
YoY Change -11.29%
% of Gross Profit 44.1% 54.57%
Operating Expenses $3.246M $6.850M
YoY Change -52.61% -5.21%
Operating Profit $3.572M $18.42K
YoY Change 19290.78% -101.83%
Interest Expense $1.832M $2.733M
YoY Change -32.97% 57.15%
% of Operating Profit 51.28% 14834.57%
Other Income/Expense, Net $76.67K -$1.083M
YoY Change -107.08% -1396.28%
Pretax Income $3.648M -$1.060M
YoY Change -444.19%
Income Tax
% Of Pretax Income
Net Earnings $3.648M -$1.064M
YoY Change -442.87% 15.59%
Net Earnings / Revenue 35.4% -11.13%
Basic Earnings Per Share $0.47 -$0.13
Diluted Earnings Per Share $0.40 -$0.13
COMMON SHARES
Basic Shares Outstanding 7.532M shares 8.075M shares
Diluted Shares Outstanding 8.751M shares 8.075M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.30M $8.700M
YoY Change 501.15%
Cash & Equivalents $52.30M $8.745M
Short-Term Investments
Other Short-Term Assets $4.779M $2.300M
YoY Change 107.78%
Inventory
Prepaid Expenses $4.779M $2.318M
Receivables $9.314M $7.000M
Other Receivables $0.00 $0.00
Total Short-Term Assets $66.39M $18.00M
YoY Change 268.85%
LONG-TERM ASSETS
Property, Plant & Equipment $329.7M $346.4M
YoY Change -4.82%
Goodwill $17.32M $17.32M
YoY Change 0.0%
Intangibles $3.926M $5.588M
YoY Change -29.74%
Long-Term Investments $9.977M $10.10M
YoY Change -1.22% -26.42%
Other Assets $2.411M $24.20M
YoY Change -90.04%
Total Long-Term Assets $364.0M $404.5M
YoY Change -10.0%
TOTAL ASSETS
Total Short-Term Assets $66.39M $18.00M
Total Long-Term Assets $364.0M $404.5M
Total Assets $430.4M $422.5M
YoY Change 1.88% 66.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.215M $500.0K
YoY Change 142.97%
Accrued Expenses $5.779M $6.700M
YoY Change -13.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $6.000M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.26M $15.30M
YoY Change -26.39%
LONG-TERM LIABILITIES
Long-Term Debt $180.9M $194.2M
YoY Change -6.84%
Other Long-Term Liabilities $12.54M $19.20M
YoY Change -34.69%
Total Long-Term Liabilities $193.5M $213.4M
YoY Change -9.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.26M $15.30M
Total Long-Term Liabilities $193.5M $213.4M
Total Liabilities $204.7M $228.7M
YoY Change -10.5% 83.4%
SHAREHOLDERS EQUITY
Retained Earnings -$96.36M -$92.86M
YoY Change 3.77% 244.96%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $174.4M $134.9M
YoY Change
Total Liabilities & Shareholders Equity $430.4M $422.5M
YoY Change 1.88% 66.8%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $3.648M -$1.064M
YoY Change -442.87% 15.59%
Depreciation, Depletion And Amortization $3.814M $4.300M
YoY Change -11.29%
Cash From Operating Activities $3.229M $430.0K
YoY Change 651.01%
INVESTING ACTIVITIES
Capital Expenditures -$3.950M -$1.530M
YoY Change 158.16%
Acquisitions
YoY Change
Other Investing Activities $9.619M $15.36M
YoY Change -37.38%
Cash From Investing Activities $5.669M $16.90M
YoY Change -66.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.44M -12.40M
YoY Change -385.79%
NET CHANGE
Cash From Operating Activities 3.229M 430.0K
Cash From Investing Activities 5.669M 16.90M
Cash From Financing Activities 35.44M -12.40M
Net Change In Cash 44.34M 4.930M
YoY Change 799.32%
FREE CASH FLOW
Cash From Operating Activities $3.229M $430.0K
Capital Expenditures -$3.950M -$1.530M
Free Cash Flow $7.179M $1.960M
YoY Change 266.29%

Facts In Submission

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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8019742 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8750875 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8075070 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8763112 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8019742 shares
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.2625
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.4080
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.7875
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.9330
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
168041287 USD
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
95000 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
648609 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
136282 USD
CY2021Q3 cik0001645873 Adjustments To Additional Paid In Capital Decrease In Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalDecreaseInRedeemableCommonStock
-9316023 USD
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3834609 USD
CY2021Q3 us-gaap Dividends
Dividends
1981725 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3505052 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
224973593 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
189662529 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
183750 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
88784 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
158826 USD
CY2020Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3166349 USD
CY2020Q3 us-gaap Dividends
Dividends
2135815 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1064104 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13154123 USD
cik0001645873 Adjustments To Additional Paid In Capital Decrease In Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalDecreaseInRedeemableCommonStock
-8247216 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
16881466 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
981748 USD
cik0001645873 Adjustments To Additional Paid In Capital Decrease In Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalDecreaseInRedeemableCommonStock
-4393863 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
185511657 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
182886668 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
296250 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1840341 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
946914 USD
us-gaap Dividends
Dividends
5949912 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1599561 USD
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
224973593 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
240172562 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
313334 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
266350 USD
us-gaap Dividends
Dividends
9595208 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-52097300 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
185511657 USD
us-gaap Net Income Loss
NetIncomeLoss
1742964 USD
us-gaap Net Income Loss
NetIncomeLoss
-52097300 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
11817529 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
13420256 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2115341 USD
us-gaap Share Based Compensation
ShareBasedCompensation
522183 USD
us-gaap Straight Line Rent
StraightLineRent
950694 USD
us-gaap Straight Line Rent
StraightLineRent
1027863 USD
us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
192235 USD
us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
45903 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
207086 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
796810 USD
cik0001645873 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
97367 USD
cik0001645873 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
134412 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1099723 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
1157951 USD
cik0001645873 Impairment Reversal Of Real Estate Properties
ImpairmentReversalOfRealEstateProperties
-400999 USD
cik0001645873 Impairment Reversal Of Real Estate Properties
ImpairmentReversalOfRealEstateProperties
9506525 USD
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
34572403 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
517000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4532413 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1693642 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
684057 USD
us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-1019840 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
222705 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
239028 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
247929 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
542140 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-613626 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
563259 USD
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
1283162 USD
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
0 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
667634 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
513161 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-363007 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1173784 USD
us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
0 USD
us-gaap Increase Decrease In Due To Affiliates Current
IncreaseDecreaseInDueToAffiliatesCurrent
-628488 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6312683 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3813564 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
3644221 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
0 USD
cik0001645873 Payments To Acquire Additional Real Estate Investments
PaymentsToAcquireAdditionalRealEstateInvestments
531382 USD
cik0001645873 Payments To Acquire Additional Real Estate Investments
PaymentsToAcquireAdditionalRealEstateInvestments
600291 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
195750 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
566102 USD
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1824383 USD
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
22840026 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
15364073 USD
cik0001645873 Payments To Acquire Lease Incentives
PaymentsToAcquireLeaseIncentives
0 USD
cik0001645873 Payments To Acquire Lease Incentives
PaymentsToAcquireLeaseIncentives
990000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
20293056 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
13207680 USD
us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
6000000 USD
us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
4260000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
12000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
6000000 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
25436000 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
35705500 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
29434396 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
36421500 USD
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
0 USD
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
527000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14947468 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
46333357 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
4800000 USD
us-gaap Proceeds From Deposits With Other Institutions
ProceedsFromDepositsWithOtherInstitutions
18804 USD
us-gaap Proceeds From Deposits With Other Institutions
ProceedsFromDepositsWithOtherInstitutions
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
381076 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
389662 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
47570374 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2911744 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10378762 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
946914 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
981748 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16881466 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13154123 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2565452 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4071697 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19727618 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2073776 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8377530 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6936930 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54710887 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9010706 USD
us-gaap Interest Paid Net
InterestPaidNet
6116202 USD
us-gaap Interest Paid Net
InterestPaidNet
6930329 USD
us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
8247216 USD
us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
4393863 USD
cik0001645873 Reinvested Distribution To Investment In Rich Uncles Reit I
ReinvestedDistributionToInvestmentInRichUnclesReitI
3399731 USD
cik0001645873 Reinvested Distribution To Investment In Rich Uncles Reit I
ReinvestedDistributionToInvestmentInRichUnclesReitI
5815165 USD
cik0001645873 Increase Decrease In Share Redemptions Payable
IncreaseDecreaseInShareRedemptionsPayable
-1631648 USD
cik0001645873 Increase Decrease In Share Redemptions Payable
IncreaseDecreaseInShareRedemptionsPayable
-1393275 USD
cik0001645873 Additions To Deferred Rent Receivables
AdditionsToDeferredRentReceivables
683605 USD
cik0001645873 Additions To Deferred Rent Receivables
AdditionsToDeferredRentReceivables
0 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
-2128538 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
0 USD
cik0001645873 Non Cash Or Part Non Cash Transactions Accrued Distributions
NonCashOrPartNonCashTransactionsAccruedDistributions
123521 USD
cik0001645873 Non Cash Or Part Non Cash Transactions Accrued Distributions
NonCashOrPartNonCashTransactionsAccruedDistributions
291654 USD
us-gaap Contribution Of Property
ContributionOfProperty
24585739 USD
us-gaap Contribution Of Property
ContributionOfProperty
23033118 USD
cik0001645873 Assets Related To Property Sales
AssetsRelatedToPropertySales
1079361 USD
cik0001645873 Assets Related To Property Sales
AssetsRelatedToPropertySales
864008 USD
cik0001645873 Above Market Lease Period Increase Decrease
AboveMarketLeasePeriodIncreaseDecrease
-50549 USD
cik0001645873 Above Market Lease Period Increase Decrease
AboveMarketLeasePeriodIncreaseDecrease
198517 USD
us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
9088438 USD
us-gaap Mortgage Loan Related To Property Sales1
MortgageLoanRelatedToPropertySales1
14671370 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
801337 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
3934795 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
325734 USD
us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
73505 USD
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
14166 USD
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
0 USD
CY2021Q3 cik0001645873 Authority To Issue Of Common Stock
AuthorityToIssueOfCommonStock
450000000 shares
CY2021Q3 cik0001645873 Number Of Rentable Square Feet
NumberOfRentableSquareFeet
2200000 sqft
CY2021Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
38 property
CY2021Q1 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
23.03
CY2021Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
24.61
CY2021Q3 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
26.05
CY2021Q3 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
26.05
CY2021Q3 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
26.05
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the unaudited condensed consolidated financial statements and the accompanying notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and accompanying notes. These estimates are based on historical experience and, in some cases, assumptions based on current and future market experience, including considerations related to the COVID-19 pandemic (see </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Notes 3</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">5 </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for impairment charges related primarily to COVID-19). Actual results may differ from those estimates.</span></div>
CY2021Q3 cik0001645873 Revenue Recognition From Tenant Reimbursement
RevenueRecognitionFromTenantReimbursement
1640835 USD
CY2020Q3 cik0001645873 Revenue Recognition From Tenant Reimbursement
RevenueRecognitionFromTenantReimbursement
1622218 USD
cik0001645873 Revenue Recognition From Tenant Reimbursement
RevenueRecognitionFromTenantReimbursement
5036196 USD
cik0001645873 Revenue Recognition From Tenant Reimbursement
RevenueRecognitionFromTenantReimbursement
5521723 USD
CY2021Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
9506525 USD
cik0001645873 Number Of Impaired Real Estate Properties
NumberOfImpairedRealEstateProperties
4 property
CY2020Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1219316 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1188099 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2410951 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
129118 USD
CY2021Q3 cik0001645873 Tenant Reimbursement
TenantReimbursement
189136 USD
CY2020Q4 cik0001645873 Tenant Reimbursement
TenantReimbursement
60598 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
32086 USD
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
9157068 USD
CY2021Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
38 property
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior year balance sheet accounts have been reclassified to conform with the current year presentation. The reclassification did not affect net income in the prior year unaudited condensed consolidated statement of operations.</span></div>
CY2021Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
14 state
CY2021Q3 cik0001645873 Land Building And Improvements
LandBuildingAndImprovements
347624896 USD
CY2021Q3 us-gaap Tenant Improvements
TenantImprovements
23784332 USD
CY2021Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
41720011 USD
CY2021Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
329689217 USD
CY2020Q1 cik0001645873 Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
2 property
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
9157068 USD
CY2020Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
349457 USD
CY2020Q1 cik0001645873 Impairment Of Real Estate Percentage
ImpairmentOfRealEstatePercentage
0.022
CY2020Q4 cik0001645873 Tenant Reimbursement
TenantReimbursement
60598 USD
CY2020Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
349457 USD
CY2020Q3 cik0001645873 Impairment Of Real Estate Percentage
ImpairmentOfRealEstatePercentage
0.001
CY2021Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
9506525 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4532413 USD
CY2021Q3 us-gaap Nontrade Receivables
NontradeReceivables
1966767 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
6687205 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
26946631 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
179536418 USD
cik0001645873 Number Of Real Estate Properties Identified As Held For Sale During Period
NumberOfRealEstatePropertiesIdentifiedAsHeldForSaleDuringPeriod
9 property
CY2020Q4 cik0001645873 Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
2 lease
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
25024065 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
24593849 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
21424993 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
14552340 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
60307335 USD
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P9Y3M18D
cik0001645873 Number Of Real Estate Properties Identified As Held For Sale During Period
NumberOfRealEstatePropertiesIdentifiedAsHeldForSaleDuringPeriod
9 property
cik0001645873 Number Of Real Estate Properties Sold
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5 lease
CY2021Q3 cik0001645873 Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
0 lease
CY2020Q4 cik0001645873 Number Of Real Estate Properties Held For Investment
NumberOfRealEstatePropertiesHeldForInvestment
2 lease
CY2020Q3 cik0001645873 Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
3 lease
CY2020Q4 us-gaap Goodwill
Goodwill
17320857 USD
CY2019Q4 us-gaap Goodwill
Goodwill
50588000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
33267143 USD
CY2021Q3 us-gaap Goodwill
Goodwill
17320857 USD
CY2020Q4 us-gaap Goodwill
Goodwill
17320857 USD
cik0001645873 Decrease In Fair Value Of Real Estate Investment Property Percentage
DecreaseInFairValueOfRealEstateInvestmentPropertyPercentage
0.14
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
33267143 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7156592 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
6960842 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3230583 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1833054 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3926009 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5127788 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
471790 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
446921 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1397529 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1372910 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
476456 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1905826 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
815228 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
728499 USD
CY2021Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3575331 USD
CY2021Q3 cik0001645873 Straight Line Rents
StraightLineRents
5399340 USD
CY2020Q4 cik0001645873 Straight Line Rents
StraightLineRents
4344388 USD
CY2021Q3 cik0001645873 Tenant Rent
TenantRent
98363 USD
CY2020Q4 cik0001645873 Tenant Rent
TenantRent
204775 USD
CY2021Q3 cik0001645873 Tenant Recoveries
TenantRecoveries
1849245 USD
CY2020Q4 cik0001645873 Tenant Recoveries
TenantRecoveries
2116627 USD
CY2021Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
7346948 USD
CY2020Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
6665790 USD
CY2021Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1214828 USD
CY2020Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1136954 USD
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
3068714 USD
CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
786120 USD
CY2020Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
706106 USD
CY2021Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
611507 USD
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
629628 USD
CY2021Q3 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
1591992 USD
CY2020Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
2033065 USD
CY2021Q3 cik0001645873 Deferred Tenant Reimbursement
DeferredTenantReimbursement
2133695 USD
CY2020Q4 cik0001645873 Deferred Tenant Reimbursement
DeferredTenantReimbursement
5157 USD
CY2021Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
9913473 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
7579624 USD
cik0001645873 Loans To Assets Ratio
LoansToAssetsRatio
0.60
cik0001645873 Loans To Assets Ratio
LoansToAssetsRatio
0.60
cik0001645873 Loans To Assets Ratio
LoansToAssetsRatio
0.60
CY2021Q3 cik0001645873 Carrying Value Of Mortgage Loan
CarryingValueOfMortgageLoan
180914339 USD
CY2021Q3 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
183304467 USD
CY2020Q4 cik0001645873 Carrying Value Of Mortgage Loan
CarryingValueOfMortgageLoan
175925918 USD
CY2020Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
177573106 USD
CY2020Q4 cik0001645873 Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
2 property
CY2021Q3 cik0001645873 Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
0 property
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
6000000 USD
CY2021Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
0 USD
CY2020Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
21724 USD
CY2021Q3 us-gaap Unsecured Debt
UnsecuredDebt
0 USD
CY2020Q4 us-gaap Unsecured Debt
UnsecuredDebt
5978276 USD
CY2021Q3 us-gaap Interest Expense Other
InterestExpenseOther
504 USD
CY2021Q3 cik0001645873 Debt Instrument Covenant Leverage Ratio Maximum
DebtInstrumentCovenantLeverageRatioMaximum
0.55
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
5578530 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
11173350 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
22204003 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
31565888 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
28970170 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
26484067 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
56170889 USD
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
182146897 USD
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-239979 USD
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1472537 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
180914339 USD
CY2020Q3 us-gaap Interest Expense Other
InterestExpenseOther
12998 USD
us-gaap Interest Expense Other
InterestExpenseOther
49622 USD
us-gaap Interest Expense Other
InterestExpenseOther
78226 USD
CY2021Q3 us-gaap Interest Expense
InterestExpense
1831545 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
2732528 USD
us-gaap Interest Expense
InterestExpense
5711330 USD
us-gaap Interest Expense
InterestExpense
9196061 USD
CY2021Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
166338 USD
CY2020Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
272912 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
684057 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1019840 USD
CY2021Q3 cik0001645873 Liabilities Accrued Interest Payable Receivable
LiabilitiesAccruedInterestPayableReceivable
54980 USD
CY2020Q4 cik0001645873 Liabilities Accrued Interest Payable Receivable
LiabilitiesAccruedInterestPayableReceivable
45636 USD
CY2021Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
166338 USD
CY2020Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
272912 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
684057 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1019840 USD
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2000000 shares
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31250 USD
CY2021Q3 cik0001645873 Tenant Reimbursement
TenantReimbursement
189136 USD
CY2019Q4 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
30.48
CY2021Q3 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
26.05

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0001645873-21-000219-xbrl.zip Edgar Link pending
cik0001645873-20210930.htm Edgar Link pending
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