2020 Q1 Form 10-K Financial Statement

#000159552720000004 Filed on March 19, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 2018 Q4
Revenue $17.48M $70.53M $16.23M
YoY Change 2.5% 13.03% 9.53%
Cost Of Revenue $10.01M $38.50M $9.120M
YoY Change 12.73% 11.3%
Gross Profit $7.460M $32.03M $7.120M
YoY Change -8.69% 15.17%
Gross Profit Margin 42.68% 45.41% 43.86%
Selling, General & Admin $2.020M $6.430M $1.170M
YoY Change 4.66% -28.4%
% of Gross Profit 27.08% 20.07% 16.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.520M $31.16M $7.270M
YoY Change 1.48% 4.95%
% of Gross Profit 100.8% 97.28% 102.11%
Operating Expenses $19.55M $76.11M $8.430M
YoY Change 7.26% 3.32%
Operating Profit -$2.075M -$5.580M -$1.310M
YoY Change 76.15% -50.45%
Interest Expense $4.832M $17.16M -$3.410M
YoY Change 35.73% 29.06%
% of Operating Profit
Other Income/Expense, Net -$4.713M -$16.31M
YoY Change 38.37% 26.93%
Pretax Income -$6.790M -$21.89M -$5.130M
YoY Change 48.25% -9.21%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$6.788M -$21.89M -$5.134M
YoY Change 48.08% -9.22% -27.16%
Net Earnings / Revenue -38.84% -31.04% -31.63%
Basic Earnings Per Share -$1.72
Diluted Earnings Per Share -$532.5K -$1.72 -$402.4K
COMMON SHARES
Basic Shares Outstanding 30.99M shares 12.75M shares 30.99M shares
Diluted Shares Outstanding 12.75M shares

Balance Sheet

Concept 2020 Q1 2019 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.20M $51.20M $48.00M
YoY Change 9.47% 6.67%
Cash & Equivalents $53.24M $51.20M $47.95M
Short-Term Investments
Other Short-Term Assets $6.400M $8.600M $26.00M
YoY Change -74.3% -66.92%
Inventory
Prepaid Expenses
Receivables $22.30M $21.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $81.90M $81.40M $74.00M
YoY Change 11.43% 10.0%
LONG-TERM ASSETS
Property, Plant & Equipment $797.7M $803.9M $684.3M
YoY Change 8.93% 17.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.50M $16.00M $15.50M
YoY Change 4.79% 3.23%
Total Long-Term Assets $815.3M $820.0M $699.7M
YoY Change 8.87% 17.19%
TOTAL ASSETS
Total Short-Term Assets $81.90M $81.40M $74.00M
Total Long-Term Assets $815.3M $820.0M $699.7M
Total Assets $897.2M $901.4M $773.7M
YoY Change 9.1% 16.51% 1.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.500M $7.000M $11.10M
YoY Change -11.46% -36.94%
Accrued Expenses $54.90M $54.90M
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $63.40M $61.90M $11.10M
YoY Change -1.71% 457.66%
LONG-TERM LIABILITIES
Long-Term Debt $395.4M $395.0M $291.7M
YoY Change 35.46% 35.41%
Other Long-Term Liabilities $27.20M $23.90M $27.30M
YoY Change 1.12% -12.45%
Total Long-Term Liabilities $422.6M $418.9M $319.0M
YoY Change 32.56% 31.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.40M $61.90M $11.10M
Total Long-Term Liabilities $422.6M $418.9M $319.0M
Total Liabilities $486.0M $480.8M $330.1M
YoY Change 26.79% 45.65% 18.32%
SHAREHOLDERS EQUITY
Retained Earnings -$271.1M -$242.4M
YoY Change 9.76% 15.09%
Common Stock $310.0K $310.0K
YoY Change 0.0% -1.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $411.2M $420.5M $443.7M
YoY Change
Total Liabilities & Shareholders Equity $897.2M $901.4M $773.7M
YoY Change 9.1% 16.51% 1.75%

Cashflow Statement

Concept 2020 Q1 2019 2018 Q4
OPERATING ACTIVITIES
Net Income -$6.788M -$21.89M -$5.134M
YoY Change 48.08% -9.22% -27.16%
Depreciation, Depletion And Amortization $7.520M $31.16M $7.270M
YoY Change 1.48% 4.95%
Cash From Operating Activities $4.428M -$1.603M -$2.880M
YoY Change 84.65% -77.36%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M -$45.97M -$8.840M
YoY Change 40.85% 207.7%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$995.0K -$45.97M -$8.840M
YoY Change 41.13% 207.83%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $51.07M -3.270M
YoY Change 72.54%
NET CHANGE
Cash From Operating Activities $4.428M -$1.603M -2.880M
Cash From Investing Activities -$995.0K -$45.97M -8.840M
Cash From Financing Activities $0.00 $51.07M -3.270M
Net Change In Cash $3.433M $3.496M -14.99M
YoY Change 102.78% -53.91%
FREE CASH FLOW
Cash From Operating Activities $4.428M -$1.603M -$2.880M
Capital Expenditures -$1.000M -$45.97M -$8.840M
Free Cash Flow $5.428M $44.37M $5.960M
YoY Change 74.65% 464.47%

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0.25
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0
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0.01
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
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300000000 shares
CY2019Q4 us-gaap Common Stock Shares Authorized
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300000000 shares
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CommonStockSharesIssued
30990448 shares
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
30994891 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
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30990448 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31000000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
31000000 shares
CY2019Q4 us-gaap Common Stock Shares Outstanding
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30994891 shares
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310000 USD
CY2019Q4 us-gaap Common Stock Value
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310000 USD
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CY2019 us-gaap Comprehensive Income Net Of Tax
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0 USD
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
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200000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
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100000 USD
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31177000 USD
CY2019Q4 us-gaap Debt Instrument Collateral Amount
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825500000 USD
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0.0385
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24000 USD
CY2018 us-gaap Debt Securities Available For Sale Realized Gain Loss
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0 USD
CY2019 us-gaap Debt Securities Available For Sale Realized Gain Loss
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0 USD
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8943000 USD
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16551000 USD
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21649000 USD
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5768000 USD
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4250000 USD
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29539000 USD
CY2018 us-gaap Depreciation And Amortization
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29690000 USD
CY2019 us-gaap Depreciation And Amortization
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31161000 USD
CY2018Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
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0 USD
CY2019Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
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0 USD
CY2018Q4 us-gaap Derivative Asset Fair Value Gross Liability
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0 USD
CY2019Q4 us-gaap Derivative Asset Fair Value Gross Liability
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1327000 USD
CY2018Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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0 USD
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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0 USD
CY2018Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 USD
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Securities
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0 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Asset
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0 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Asset
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0 USD
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
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0 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
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1327000 USD
CY2019Q4 us-gaap Derivative Fair Value Of Derivative Net
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1400000 USD
CY2018Q4 us-gaap Derivative Liabilities
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0 USD
CY2019Q4 us-gaap Derivative Liabilities
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1327000 USD
CY2019Q1 us-gaap Derivative Term Of Contract
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P5Y
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26825000 USD
CY2018 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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28378000 USD
CY2017 us-gaap Dividends
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46928000 USD
CY2018 us-gaap Dividends
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7671000 USD
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158000 USD
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0 USD
CY2018Q4 us-gaap Due To Related Parties Current And Noncurrent
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204000 USD
CY2019Q4 us-gaap Due To Related Parties Current And Noncurrent
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222000 USD
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-0.74
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
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-0.21
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-0.19
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
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-0.17
CY2018 us-gaap Earnings Per Share Basic And Diluted
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-0.77
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-0.15
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
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-0.19
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-0.16
CY2019Q4 us-gaap Earnings Per Share Basic And Diluted
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-0.22
CY2019 us-gaap Earnings Per Share Basic And Diluted
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-0.71
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467000 USD
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24000 USD
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103285000 USD
CY2019Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
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103100000 USD
CY2019Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
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103121000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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36753000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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41665000 USD
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103286000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
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103121000 USD
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66533000 USD
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61456000 USD
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8087000 USD
CY2018 us-gaap General And Administrative Expense
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8975000 USD
CY2019 us-gaap General And Administrative Expense
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6432000 USD
CY2018 us-gaap Goodwill And Intangible Asset Impairment
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0 USD
CY2019 us-gaap Goodwill And Intangible Asset Impairment
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0 USD
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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3265000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-752000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2017 us-gaap Increase Decrease In Contract With Customer Liability
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2231000 USD
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
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513000 USD
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CY2017 us-gaap Increase Decrease In Leasing Receivables
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3498000 USD
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4544000 USD
CY2019 us-gaap Increase Decrease In Leasing Receivables
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5219000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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5214000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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6749000 USD
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1925000 USD
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11230000 USD
CY2018 us-gaap Interest Expense
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CY2019 us-gaap Interest Expense
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17157000 USD
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9655000 USD
CY2018 us-gaap Interest Paid Net
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12272000 USD
CY2019 us-gaap Interest Paid Net
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15505000 USD
CY2017 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
245000 USD
CY2018 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
444000 USD
CY2019 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
847000 USD
CY2018Q4 us-gaap Land
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CY2019Q4 us-gaap Land
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230976000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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207246000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4746000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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4746000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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4746000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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4746000 USD
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4746000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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176110000 USD
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450152000 USD
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41162000 USD
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45639000 USD
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59793000 USD
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192414000 USD
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53679000 USD
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
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57465000 USD
CY2018Q4 us-gaap Liabilities
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330062000 USD
CY2019Q4 us-gaap Liabilities
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480807000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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773742000 USD
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901356000 USD
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350000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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0 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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55000000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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0 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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0 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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0 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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5453000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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29600000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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51073000 USD
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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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2282000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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-7080000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Income Loss
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1200000 sqft
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CY2018 us-gaap Nonoperating Income Expense
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CY2019 us-gaap Nonoperating Income Expense
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1 property
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1 property
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8 property
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1 segment
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70496000 USD
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73661000 USD
CY2019 us-gaap Operating Expenses
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76110000 USD
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CY2019 us-gaap Operating Income Loss
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CY2019 us-gaap Operating Lease Expense
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4900000 USD
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70530000 USD
CY2019Q4 us-gaap Operating Lease Liability
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54866000 USD
CY2019Q1 us-gaap Operating Lease Liability
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54900000 USD
CY2018 us-gaap Operating Lease Payments
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4700000 USD
CY2019 us-gaap Operating Lease Payments
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4700000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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55579000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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54900000 USD
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0.0857
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P47Y
CY2017 us-gaap Operating Leases Income Statement Lease Revenue
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58384000 USD
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62399000 USD
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4900000 USD
CY2017 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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0 USD
CY2018 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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0 USD
CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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-1327000 USD
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-1327000 USD
CY2017 us-gaap Payments For Capital Improvements
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10831000 USD
CY2018 us-gaap Payments For Capital Improvements
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8987000 USD
CY2019 us-gaap Payments For Capital Improvements
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7709000 USD
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7337000 USD
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10269000 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
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0 USD
CY2017 us-gaap Payments Of Dividends
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28279000 USD
CY2018 us-gaap Payments Of Dividends
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7475000 USD
CY2019 us-gaap Payments Of Dividends
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0 USD
CY2017 us-gaap Payments Of Financing Costs
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2931000 USD
CY2018 us-gaap Payments Of Financing Costs
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2656000 USD
CY2019 us-gaap Payments Of Financing Costs
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3927000 USD
CY2017 us-gaap Payments To Acquire Real Estate
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0 USD
CY2018 us-gaap Payments To Acquire Real Estate
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5948000 USD
CY2019 us-gaap Payments To Acquire Real Estate
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38265000 USD
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0.01
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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50000000 shares
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
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0 shares
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Value
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0 USD
CY2019Q4 us-gaap Preferred Stock Value
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0 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets
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9459000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets
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8602000 USD
CY2018Q2 us-gaap Proceeds From Issuance Of Common Stock
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2400000 USD
CY2018Q3 us-gaap Proceeds From Issuance Of Common Stock
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2700000 USD
CY2017Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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491000 USD
CY2017 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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491000 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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0 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 USD
CY2017 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
140000000 USD
CY2018 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
50000000 USD
CY2019 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
55000000 USD
CY2019 us-gaap Production And Distribution Costs
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0 USD
CY2018 us-gaap Provision For Doubtful Accounts
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0 USD
CY2019 us-gaap Provision For Doubtful Accounts
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0 USD
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
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19598000 USD
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
35982000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
53449000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
72656000 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0 USD
CY2019 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
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504536000 USD
CY2019Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
193658000 USD
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
0 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
0 USD
CY2019 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
0 USD
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
635447000 USD
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
647839000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
671210000 USD
CY2019Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
759487000 USD
CY2017 us-gaap Real Estate Improvements
RealEstateImprovements
12392000 USD
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
9396000 USD
CY2019 us-gaap Real Estate Improvements
RealEstateImprovements
8405000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
90235000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
114322000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
774494000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
862608000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
684259000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
748286000 USD
CY2018Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
-47000 USD
CY2019Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
-222000 USD
CY2017 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
96000000 USD
CY2018 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2019 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6849000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7098000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-242388000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-264278000 USD
CY2018Q1 us-gaap Revenues
Revenues
15229000 USD
CY2018Q2 us-gaap Revenues
Revenues
15196000 USD
CY2018Q3 us-gaap Revenues
Revenues
15741000 USD
CY2018Q4 us-gaap Revenues
Revenues
16233000 USD
CY2019Q1 us-gaap Revenues
Revenues
17051000 USD
CY2019Q2 us-gaap Revenues
Revenues
16525000 USD
CY2019Q3 us-gaap Revenues
Revenues
18643000 USD
CY2019Q4 us-gaap Revenues
Revenues
18311000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
16384000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
17467000 USD
CY2019 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
19207000 USD
CY2019Q4 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
61293000 USD
CY2018Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
17.03
CY2018Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
12.95
CY2019Q4 us-gaap Secured Debt
SecuredDebt
405000000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
74000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
17000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
86000 USD
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
4443 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
21.00
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
3868 shares
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
21.71
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
13201 shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
20.26
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
140000 shares
CY2018Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
139993 shares
CY2018Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
500000 shares
CY2018Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
210014 shares
CY2017 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
18567000 USD
CY2018 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
4231000 USD
CY2019 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
0 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
74000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
17000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
86000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
99131 shares
CY2018Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
10183 shares
CY2018Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
145627 shares
CY2015 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
183780 shares
CY2016 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
461555 shares
CY2017Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
276624 shares
CY2017Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
578 shares
CY2017Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
82256 shares
CY2017 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
359458 shares
CY2018Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
145627 shares
CY2018 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
254941 shares
CY2019 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2000000 USD
CY2018Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
200000 USD
CY2018Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3000000 USD
CY2017Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5600000 USD
CY2017Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13700 USD
CY2017Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1700000 USD
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
7337000 USD
CY2018Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3000000 USD
CY2018 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
10269000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
540191000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
481484000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
443680000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
420549000 USD
CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31042307 shares
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31431555 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31330779 shares
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31180373 shares
CY2018Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30977822 shares
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31228941 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30977955 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30978662 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30981178 shares
CY2019Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30981686 shares
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30979884 shares
CY2019 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivative Instruments</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company may use derivative financial instruments to hedge all or a portion of the interest rate risk associated with its borrowings. Certain of the techniques used to hedge exposure to interest rate fluctuations may also be used to protect against declines in the market value of assets that result from general trends in debt markets. The principal objective of such agreements is to minimize the risks and costs associated with the Company&#8217;s operating and financial structure as well as to hedge specific anticipated transactions.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company records all derivatives on the balance sheet at fair value.&#160;The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge.&#160;&#160;The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accounting for subsequent changes in the fair value of these derivatives depends on whether each has been designated and qualifies for hedge accounting treatment. If the Company elects not to apply hedge accounting treatment, any change in the fair value of these derivative instruments is recognized immediately in gains (losses) on derivative instruments in the accompanying consolidated statements of operations and comprehensive loss. If the derivative is designated and qualifies for hedge accounting treatment, the change in the estimated fair value of the derivative is recorded in other comprehensive income (loss) to the extent that it is effective with any ineffective portion of a derivative&#8217;s change in fair value will be immediately recognized in earnings. After the adoption of ASU 2017-12, if the derivative qualified for hedge accounting, all the change in value is recorded in other comprehensive income.</font></div></div>
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company currently presents straight-line rent receivable and straight-line payable on its own line items in the consolidated statement of cash flows and consolidated balance sheets, which was previously included within prepaid expenses and other assets.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has aggregated revenue from its lease components and non-lease components (tenant operating expense reimbursements) into one line (see additional information in the </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#8220;Recently Issued Accounting Pronouncements&#8221;</font><font style="font-family:inherit;font-size:10pt;"> section below).</font></div></td></tr></table></div>
CY2019 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s revenues, which are derived primarily from lease contracts, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, these leases had an average remaining lease term of </font><font style="font-family:inherit;font-size:10pt;">6.8</font><font style="font-family:inherit;font-size:10pt;"> years. Because many of the Company&#8217;s leases provide for rental increases at specified intervals, straight-line basis accounting requires that the Company record a receivable for, and include in revenue from tenants, unbilled rent receivables that the Company will receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. For new leases after acquisition, the commencement date is considered to be the date the tenant takes control of the space. For lease modifications, the commencement date is considered to be the date the lease modification is executed. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. Pursuant to certain of the Company&#8217;s lease agreements, tenants are required to reimburse the Company for certain property operating expenses (recorded in revenue from tenants), in addition to paying base rent, whereas under certain other lease agreements, the tenants are directly responsible for all operating costs of the respective properties. Under ASC 842, the Company has elected to report combined lease and non-lease components in a single line &#8220;Revenue from tenants&#8221;. For comparative purposes, the Company reflected prior revenue and reimbursements reported under ASC 842 on a single line. For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis.</font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company owns certain properties with leases that include provisions for the tenant to pay contingent rental income based on a percent of the tenant&#8217;s sales upon the achievement of certain sales thresholds or other targets which may be monthly, quarterly or annual targets. As the lessor to the aforementioned leases, the Company defers the recognition of contingent rental income, until the specified target that triggered the contingent rental income is achieved, or until such sales upon which percentage rent is based are known. For the years ended December&#160;31, 2019 and 2018, approximately </font><font style="font-family:inherit;font-size:10pt;">$0.1 million</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$0.2 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, in contingent rental income is included in revenue from tenants in the consolidated statements of operations and comprehensive loss. The Company did </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;">t recognize any contingent rental income for the year ended December 31, 2017.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> The Company continually reviews receivables related to rent and unbilled rents receivable and determines collectability by taking into consideration the tenant&#8217;s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Under the new leasing standard (see the </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#8220;Recently Issued Accounting Pronouncements&#8221;</font><font style="font-family:inherit;font-size:10pt;"> section below), the Company is required to assess, based on credit risk only, if it is probable that the Company will collect virtually all of the lease payments at the lease commencement date, and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are no longer permitted. If the Company determines that it is probable that it will collect virtually all of the lease payments (rent and common area maintenance), the lease will continue to be accounted for on an accrual basis (i.e., straight-line). However, if the Company determines it is not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and a full reserve would be recorded on previously accrued amounts in cases where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in operating revenue from tenants beginning on January 1, 2019, in accordance with new accounting rules, on the accompanying consolidated statements of operations and comprehensive income (loss) in the period the related costs are incurred, as applicable.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under ASC 842, uncollectible amounts are reflected as reductions in revenue. Under ASC 840, the Company recorded such amounts as bad debt expense as part of property operating expenses. </font><font style="font-family:inherit;font-size:10pt;">No</font><font style="font-family:inherit;font-size:10pt;"> bad debt expense was recorded for the years ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, 2018 or 2017.</font></div></div>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, and fair value measurements, as applicable.</font></div></div>

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