2023 Q1 Form 10-K Financial Statement

#000164587323000046 Filed on March 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $10.31M $15.92M $46.17M
YoY Change 6.87% 106.71% 27.47%
Cost Of Revenue $1.707M $2.105M $8.900M
YoY Change -38.26% 33.19% 32.99%
Gross Profit $8.604M $13.81M $37.27M
YoY Change 24.99% 125.7% 26.22%
Gross Profit Margin 83.45% 86.78% 80.73%
Selling, General & Admin $2.568M $2.912M $10.21M
YoY Change -1.9% 3.42% -19.26%
% of Gross Profit 29.85% 21.08% 27.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.272M $4.348M $14.93M
YoY Change -0.86% 26.04% -2.21%
% of Gross Profit 38.03% 31.47% 40.05%
Operating Expenses $6.129M $7.275M $25.37M
YoY Change 2.56% 139.7% 25.57%
Operating Profit -$4.754M $6.539M -$3.180M
YoY Change -54.82% 111.92% 107.31%
Interest Expense $4.019M -$2.756M $8.107M
YoY Change 156.27% 56.49% 6.86%
% of Operating Profit -42.14%
Other Income/Expense, Net $175.3K -$104.2K -$1.331M
YoY Change -111.3% -139.46% -221.22%
Pretax Income -$4.579M $720.7K -$4.511M
YoY Change -62.07% -133.08% 935.87%
Income Tax
% Of Pretax Income
Net Earnings -$3.763M -$158.6K -$3.289M
YoY Change -62.91% -92.72% 655.11%
Net Earnings / Revenue -36.49% -1.0% -7.12%
Basic Earnings Per Share -$0.62 -$0.93
Diluted Earnings Per Share -$0.62 -$0.02 -$0.93
COMMON SHARES
Basic Shares Outstanding 7.546M shares 7.486M shares 7.487M shares
Diluted Shares Outstanding 7.532M shares 7.487M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.28M $8.609M $8.609M
YoY Change -47.6% -84.62% -84.62%
Cash & Equivalents $13.28M $8.609M $8.609M
Short-Term Investments
Other Short-Term Assets $5.905M $6.101M $6.101M
YoY Change -24.39% -4.36% -4.36%
Inventory
Prepaid Expenses $5.905M $6.101M
Receivables $8.654M $8.859M $8.859M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $27.84M $23.57M $23.57M
YoY Change -33.74% -66.42% -66.42%
LONG-TERM ASSETS
Property, Plant & Equipment $416.4M $410.7M $410.7M
YoY Change 12.18% 38.93% 38.93%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments $9.997M $10.01M $10.01M
YoY Change 0.56% 0.66% 0.66%
Other Assets $5.272M $5.268M $5.268M
YoY Change -84.83% -84.83%
Total Long-Term Assets $437.0M $432.5M $432.5M
YoY Change 14.45% 20.69% 20.69%
TOTAL ASSETS
Total Short-Term Assets $27.84M $23.57M $23.57M
Total Long-Term Assets $437.0M $432.5M $432.5M
Total Assets $464.8M $456.0M $456.0M
YoY Change 9.67% 6.43% 6.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $562.2K $1.001M $1.001M
YoY Change -55.0% -43.35% -43.35%
Accrued Expenses $4.453M $5.915M $5.915M
YoY Change -19.39% -3.79% -3.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.339M $9.246M $9.246M
YoY Change -16.45% -53.46% -53.46%
LONG-TERM LIABILITIES
Long-Term Debt $212.5M $195.5M $195.5M
YoY Change 29.34% 12.38% 12.38%
Other Long-Term Liabilities $11.10M $10.29M $10.29M
YoY Change 3.39% -16.15% -16.15%
Total Long-Term Liabilities $223.6M $205.7M $205.7M
YoY Change 27.75% 10.5% 10.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.339M $9.246M $9.246M
Total Long-Term Liabilities $223.6M $205.7M $205.7M
Total Liabilities $230.9M $215.0M $296.3M
YoY Change 25.64% 4.33% 15.43%
SHAREHOLDERS EQUITY
Retained Earnings -$124.8M -$117.9M
YoY Change 7.95% 16.05%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $153.9M $159.8M $159.8M
YoY Change
Total Liabilities & Shareholders Equity $464.8M $456.0M $456.0M
YoY Change 9.67% 6.43% 6.43%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$3.763M -$158.6K -$3.289M
YoY Change -62.91% -92.72% 655.11%
Depreciation, Depletion And Amortization $3.272M $4.348M $14.93M
YoY Change -0.86% 26.04% -2.21%
Cash From Operating Activities $2.785M $7.322M $16.65M
YoY Change -357.07% 114.35% 71.13%
INVESTING ACTIVITIES
Capital Expenditures $12.22M $498.2K $131.5M
YoY Change -73.12% -104.04% -886.75%
Acquisitions
YoY Change
Other Investing Activities $101.4K $4.405M $70.43M
YoY Change -99.72% -68.27% 82.74%
Cash From Investing Activities -$12.12M $3.906M -$61.06M
YoY Change 36.84% 154.12% -379.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.047M
YoY Change -72.56%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $14.01M -8.347M -$5.384M
YoY Change -160.58% 564.23% -129.15%
NET CHANGE
Cash From Operating Activities $2.785M 7.322M $16.65M
Cash From Investing Activities -$12.12M 3.906M -$61.06M
Cash From Financing Activities $14.01M -8.347M -$5.384M
Net Change In Cash $4.671M 2.882M -$49.80M
YoY Change -114.13% -22.04% -199.54%
FREE CASH FLOW
Cash From Operating Activities $2.785M $7.322M $16.65M
Capital Expenditures $12.22M $498.2K $131.5M
Free Cash Flow -$9.437M $6.824M -$114.8M
YoY Change -79.73% -56.7% -534.33%

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CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2022 us-gaap Comprehensive Income Net Of Tax
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CY2021 us-gaap Comprehensive Income Net Of Tax
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CY2021 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
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Dividends
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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022 us-gaap Stock Issued During Period Value New Issues
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Dividends
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CY2021 us-gaap Depreciation And Amortization
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CY2021 us-gaap Share Based Compensation
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OperatingLeaseRightOfUseAssetAmortizationExpense
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AmortizationOfFinancingCostsAndDiscounts
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CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
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CY2022 none Amortizationof Above Market Lease
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CY2021 none Amortizationof Above Market Lease
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AmortizationOfBelowMarketLease
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CY2021 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
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GoodwillAndIntangibleAssetImpairment
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GoodwillAndIntangibleAssetImpairment
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375000 usd
CY2021 none Write Off Of Purchase Deposit
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0 usd
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GainsLossesOnSalesOfInvestmentRealEstate
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CY2021 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
6136588 usd
CY2022 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1164999 usd
CY2021 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
0 usd
CY2022 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
788016 usd
CY2021 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
0 usd
CY2022 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
25733 usd
CY2021 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
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CY2022 none Gains On Forgiveness Of Note Payable
GainsOnForgivenessOfNotePayable
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CY2021 none Gains On Forgiveness Of Note Payable
GainsOnForgivenessOfNotePayable
517000 usd
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
278002 usd
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
276042 usd
CY2022 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
211921 usd
CY2021 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
337072 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2072718 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2022 us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
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CY2021 us-gaap Increase Decrease In Notes Receivables
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CY2021 us-gaap Increase Decrease In Other Current Assets
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
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CY2021 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
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CY2022 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
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CY2021 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
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CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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ProceedsFromCollectionOfNotesReceivable
1836767 usd
CY2021 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 usd
CY2022 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
0 usd
CY2021 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1824383 usd
CY2022 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
70662287 usd
CY2021 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
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CY2022 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
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-84452 usd
CY2021 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
1000000 usd
CY2022 none Payments To Acquire Lease Incentives
PaymentsToAcquireLeaseIncentives
2148731 usd
CY2021 none Payments To Acquire Lease Incentives
PaymentsToAcquireLeaseIncentives
0 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21830288 usd
CY2022 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
150000000 usd
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 usd
CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
3000000 usd
CY2021 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 usd
CY2022 none Proceeds From Repayments Of Long Term Lines Of Credit
ProceedsFromRepaymentsOfLongTermLinesOfCredit
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CY2021 none Proceeds From Repayments Of Long Term Lines Of Credit
ProceedsFromRepaymentsOfLongTermLinesOfCredit
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CY2022 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
0 usd
CY2021 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
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CY2022 us-gaap Repayments Of Secured Debt
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CY2021 us-gaap Repayments Of Secured Debt
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CY2021 us-gaap Payments Of Financing Costs
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CY2021 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2022 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Payments Of Stock Issuance Costs
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2021 us-gaap Payments For Repurchase Of Common Stock
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PaymentsOfDividendsPreferredStockAndPreferenceStock
3830903 usd
CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58407520 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
8053000 usd
CY2022 none Transfers To Redeemable Common Stock
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CY2021 none Transfers To Redeemable Common Stock
TransfersToRedeemableCommonStock
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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0 usd
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
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2128538 usd
CY2022 us-gaap Stock Issued1
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CY2021 us-gaap Stock Issued1
StockIssued1
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CY2022 none Reinvested Distribution To Investment In Rich Uncles Reiti
ReinvestedDistributionToInvestmentInRichUnclesREITI
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CY2021 none Reinvested Distribution To Investment In Rich Uncles Reiti
ReinvestedDistributionToInvestmentInRichUnclesREITI
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CY2022 none Transfer Of Tenant Improvements From Other Assets To Real Estate Investments
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0 usd
CY2021 none Transfer Of Tenant Improvements From Other Assets To Real Estate Investments
TransferOfTenantImprovementsFromOtherAssetsToRealEstateInvestments
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CY2022 none Increase Decreasein Share Repurchase Payable
IncreaseDecreaseinShareRepurchasePayable
0 usd
CY2021 none Increase Decreasein Share Repurchase Payable
IncreaseDecreaseinShareRepurchasePayable
-2980559 usd
CY2022 none Non Cash Or Part Non Cash Transactions Accrued Distributions
NonCashOrPartNonCashTransactionsAccruedDistributions
-27235 usd
CY2021 none Non Cash Or Part Non Cash Transactions Accrued Distributions
NonCashOrPartNonCashTransactionsAccruedDistributions
36972 usd
CY2022 none Increase Decrease In Real Estate Investments Held For Sale
IncreaseDecreaseInRealEstateInvestmentsHeldForSale
-26255037 usd
CY2021 none Increase Decrease In Real Estate Investments Held For Sale
IncreaseDecreaseInRealEstateInvestmentsHeldForSale
6925023 usd
CY2022 none Assets Relatedto Property Sales
AssetsRelatedtoPropertySales
-775531 usd
CY2021 none Assets Relatedto Property Sales
AssetsRelatedtoPropertySales
-291065 usd
CY2022 none Above Market Leases Assumed Reduction
AboveMarketLeasesAssumedReduction
0 usd
CY2021 none Above Market Leases Assumed Reduction
AboveMarketLeasesAssumedReduction
50549 usd
CY2022 none Increase Decrease In Mortgage Notes Payable Related To Real Estate Investments Held For Sale
IncreaseDecreaseInMortgageNotesPayableRelatedToRealEstateInvestmentsHeldForSale
-21699912 usd
CY2021 none Increase Decrease In Mortgage Notes Payable Related To Real Estate Investments Held For Sale
IncreaseDecreaseInMortgageNotesPayableRelatedToRealEstateInvestmentsHeldForSale
12611474 usd
CY2022 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
267850 usd
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
418055 usd
CY2022 none Below Market Leases Increase Decrease
BelowMarketLeasesIncreaseDecrease
2449 usd
CY2021 none Below Market Leases Increase Decrease
BelowMarketLeasesIncreaseDecrease
-325734 usd
CY2022 none Derivatives Increase Decrease
DerivativesIncreaseDecrease
0 usd
CY2021 none Derivatives Increase Decrease
DerivativesIncreaseDecrease
-14166 usd
CY2022Q4 none Authority To Issue Of Stock
AuthorityToIssueOfStock
450000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 none Number Of Rentable Square Feet
NumberOfRentableSquareFeet
3200000 sqft
CY2022Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
46 property
CY2021 none Revenue Recognitionfrom Tenant Reimbursement
RevenueRecognitionfromTenantReimbursement
5807634 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><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 accompanying consolidated financial statements and the related notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in such consolidated financial statements and related notes thereto. These estimates are based on historical experience and, in some cases, assumptions based on current and future market experience. Actual results could differ materially from those estimates.</span></div>
CY2022 none Revenue Recognitionfrom Tenant Reimbursement
RevenueRecognitionfromTenantReimbursement
6596244 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
25469 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
592351 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2441970 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 usd
CY2021 none Restricted Cash Released During Period
RestrictedCashReleasedDuringPeriod
170508 usd
CY2022Q4 none Lessor Operating Lease Renewal Term Increase In Rents Percent
LessorOperatingLeaseRenewalTermIncreaseInRentsPercent
0.019
CY2022 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, statement of operations and statement of cash flows accounts have been reclassified to conform with the current year presentation. The reclassifications did not affect net income in the prior year consolidated statement of operations.</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%">During the fourth quarter of 2022, management determined that straight-line rents receivable write-offs associated with real estate investments previously sold should be reclassified as a component of the related gain on sale of the real estate investments rather than as an offset to rental income as previously presented in the Company's statements of operations. Accordingly, the Company’s statements of operations reflect an increase in rental income and a corresponding reduction in the gain on sale of real estate investments for the first three quarters of 2022 and the first, third and fourth quarters of 2021 and the year ended December 31, 2021 as follows: first quarter of 2022, $525,691; second quarter of 2022, $282,030; and third quarter of 2022, $739,255; and first quarter of 2021, $51,123; third quarter of 2021, $683,606; and fourth quarter of 2021, $932,385; and year ended December 31, 2021, $1,667,114. The reclassifications did not affect net income (loss) or net income (loss) per share of the foregoing unaudited quarterly condensed consolidated statements of operations or consolidated statement of operations for the year ended December 31, 2021.</span></div>
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
46 property
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
17 state
CY2022Q4 none Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
16 property
CY2022Q4 none Land Building And Improvements
LandBuildingAndImprovements
433524336 usd
CY2022Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
4429000 usd
CY2022Q4 us-gaap Tenant Improvements
TenantImprovements
19499749 usd
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
46752322 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
410700763 usd
CY2022 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2080727 usd
CY2021 none Reversal Of Impairment
ReversalOfImpairment
400999 usd
CY2022Q4 none Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
16 property
CY2022Q4 none Inventory Buildings And Improvements Non Refundable Deposit
InventoryBuildingsAndImprovementsNonRefundableDeposit
440548 usd
CY2022 none Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
8 property
CY2021 none Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
5 property
CY2021 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
6136588 usd
CY2021Q4 us-gaap Nontrade Receivables
NontradeReceivables
1836767 usd
CY2022Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P3Y8M12D
CY2022 none Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
8 property
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
31861449 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
31774660 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
31073877 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
27452311 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
25844496 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
336321981 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
484328774 usd
CY2022 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P10Y10M24D
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2021Q4 us-gaap Goodwill
Goodwill
17320857 usd
CY2020Q4 us-gaap Goodwill
Goodwill
17320857 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
17320857 usd
CY2022Q4 us-gaap Goodwill
Goodwill
0 usd
CY2021Q4 us-gaap Goodwill
Goodwill
17320857 usd
CY2022Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
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TenantRent
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CY2021Q4 none Tenant Rent
TenantRent
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CY2022Q4 none Tenant Recoveries
TenantRecoveries
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CY2021Q4 none Tenant Recoveries
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AccountsReceivableGross
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CY2021Q4 us-gaap Accounts Receivable Gross
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DeferredTenantAllowance
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CY2021Q4 none Deferred Tenant Allowance
DeferredTenantAllowance
2400811 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
170293 usd
CY2022Q4 none Debt Instrument Covenant Leverage Ratio Target
DebtInstrumentCovenantLeverageRatioTarget
0.40
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CY2021Q4 us-gaap Earnest Money Deposits
EarnestMoneyDeposits
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CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
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CY2021Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
100080 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
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CY2021Q4 us-gaap Prepaid Expense And Other Assets
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CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
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CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
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CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
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CY2022Q4 us-gaap Interest Payable Current And Noncurrent
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CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
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CY2022Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
1870057 usd
CY2021Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
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CY2022Q4 none Deferred Tenant Reimbursement
DeferredTenantReimbursement
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CY2021Q4 none Deferred Tenant Reimbursement
DeferredTenantReimbursement
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CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
9245933 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
11844881 usd
CY2021 none Numberof Real Estate Properties Heldfor Sale
NumberofRealEstatePropertiesHeldforSale
4 property
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8022000 usd
CY2021Q4 none Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
4 property
CY2021Q4 none Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
4 property
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
8022000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
317280 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
13267346 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
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-119245 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
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2180534 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
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CY2022 us-gaap Interest Expense
InterestExpense
8106658 usd
CY2021 us-gaap Interest Expense
InterestExpense
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CY2021Q4 none Liabilities Accrued Interest Payable Receivable
LiabilitiesAccruedInterestPayableReceivable
56114 usd
CY2022Q4 none Debt Instrument Covenant Leverage Ratio Target
DebtInstrumentCovenantLeverageRatioTarget
0.40
CY2022 us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
4039706 usd
CY2022Q2 us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
589996 usd
CY2022Q4 us-gaap Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge1
ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1
498866 usd
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
788016 usd
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2000000 shares
CY2022 us-gaap Management Fee Expense
ManagementFeeExpense
263971 usd
CY2021 us-gaap Management Fee Expense
ManagementFeeExpense
263971 usd
CY2022Q4 none Anniversary Of Completion Of The Self Management Transaction
AnniversaryOfCompletionOfTheSelfManagementTransaction
P4Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2401022 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2744881 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-4511318 usd
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ProfitLoss
-435505 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1222783 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3687500 usd
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1065278 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6976035 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1500783 usd
CY2022 us-gaap Profit Loss
ProfitLoss
-4511318 usd
CY2021 us-gaap Profit Loss
ProfitLoss
-435505 usd
CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3687500 usd
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1065278 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8198818 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1500783 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7487204 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7487204 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7544834 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7544834 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.93
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2738646 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1235297 shares
CY2022Q3 none Dividends Payable Amount Per Share Per Day
DividendsPayableAmountPerSharePerDay
0.095833
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1.15
CY2022Q4 none Dividends Payable Amount Per Share Per Month
DividendsPayableAmountPerSharePerMonth
0.095833
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1.15
CY2022Q4 none Dividends Payable Amount Per Share Per Month
DividendsPayableAmountPerSharePerMonth
0.095833
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1.15
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1.15
CY2022Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
44515009 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
103657237 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
350336417 usd
CY2022Q4 none Real Estate And Accumulated Depreciation Initial Cost Of Land Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfLandBuildingsAndImprovements
453993654 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
3459431 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
103657237 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
353795848 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
457453085 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
46752322 usd
CY2022Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
410700763 usd
CY2022Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
360711000 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
333755902 usd
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
361547850 usd
CY2022 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
158596618 usd
CY2021 us-gaap Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
15685149 usd
CY2022 us-gaap Real Estate Improvements
RealEstateImprovements
3831093 usd
CY2021 us-gaap Real Estate Improvements
RealEstateImprovements
1429075 usd
CY2022 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
29936408 usd
CY2021 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
33965562 usd
CY2022 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
6712424 usd
CY2021 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
11341609 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
2081696 usd
CY2021 none Sec Schedule1228 Real Estate Companies Investment In Real Estate Write Down Or Reversal Amount
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateWriteDownOrReversalAmount
400999 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
457453085 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
333755902 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
37611133 usd
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
32091211 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
14929574 usd
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
13710588 usd
CY2022 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
4331686 usd
CY2021 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
3774080 usd
CY2022 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
1456699 usd
CY2021 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
4416586 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
46752322 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
37611133 usd

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