2023 Q3 Form 10-Q Financial Statement
#000095017023041831 Filed on August 11, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
Revenue | $3.090M | $3.086M |
YoY Change | 0.13% | 3.6% |
Cost Of Revenue | $1.160M | $1.090M |
YoY Change | 14.79% | 10.18% |
Gross Profit | $1.930M | $1.996M |
YoY Change | -7.03% | 0.32% |
Gross Profit Margin | 62.45% | 64.68% |
Selling, General & Admin | $680.0K | $809.6K |
YoY Change | 21.28% | 23.98% |
% of Gross Profit | 35.23% | 40.56% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $400.0K | $408.5K |
YoY Change | -1.22% | 1.01% |
% of Gross Profit | 20.73% | 20.47% |
Operating Expenses | $2.262M | $2.308M |
YoY Change | 14.19% | 10.96% |
Operating Profit | $828.5K | $777.9K |
YoY Change | -25.07% | -13.46% |
Interest Expense | $212.7K | $171.0K |
YoY Change | 30.38% | -22.39% |
% of Operating Profit | 25.67% | 21.98% |
Other Income/Expense, Net | -$557.8K | -$199.8K |
YoY Change | 217.24% | -59.6% |
Pretax Income | $270.0K | $578.1K |
YoY Change | -70.96% | 43.02% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | $270.8K | $578.1K |
YoY Change | -70.88% | 43.02% |
Net Earnings / Revenue | 8.76% | 18.73% |
Basic Earnings Per Share | $0.02 | $0.05 |
Diluted Earnings Per Share | $0.02 | $0.05 |
COMMON SHARES | ||
Basic Shares Outstanding | 11.14M | 11.14M |
Diluted Shares Outstanding | 11.09M | 11.08M |
Balance Sheet
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $6.700M | $6.595M |
YoY Change | 5.65% | 27.7% |
Cash & Equivalents | $6.696M | $6.595M |
Short-Term Investments | ||
Other Short-Term Assets | $810.0K | $584.5K |
YoY Change | 48.56% | 64.88% |
Inventory | ||
Prepaid Expenses | ||
Receivables | $200.0K | $175.6K |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $7.710M | $7.355M |
YoY Change | 9.37% | 29.88% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $55.90M | $56.27M |
YoY Change | -2.37% | -2.31% |
Goodwill | $694.1K | $694.1K |
YoY Change | 0.0% | 0.0% |
Intangibles | ||
YoY Change | ||
Long-Term Investments | $2.200M | $2.613M |
YoY Change | -15.17% | -1.51% |
Other Assets | $290.0K | $291.9K |
YoY Change | -6.42% | -7.66% |
Total Long-Term Assets | $59.17M | $59.98M |
YoY Change | -2.95% | -2.09% |
TOTAL ASSETS | ||
Total Short-Term Assets | $7.710M | $7.355M |
Total Long-Term Assets | $59.17M | $59.98M |
Total Assets | $66.88M | $67.34M |
YoY Change | -1.68% | 0.62% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.920M | $1.752M |
YoY Change | 4.7% | 11.07% |
Accrued Expenses | $40.00K | $45.05K |
YoY Change | 3289.83% | 858.51% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $1.960M | $1.797M |
YoY Change | 6.81% | 13.59% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $17.03M | $17.16M |
YoY Change | -2.95% | -2.87% |
Other Long-Term Liabilities | ||
YoY Change | ||
Total Long-Term Liabilities | $17.03M | $17.16M |
YoY Change | -2.95% | -2.87% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.960M | $1.797M |
Total Long-Term Liabilities | $17.03M | $17.16M |
Total Liabilities | $18.99M | $18.96M |
YoY Change | -2.01% | -1.52% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$1.382M | -$844.2K |
YoY Change | 216.91% | 50.28% |
Common Stock | $111.4K | $111.4K |
YoY Change | 0.38% | 1.63% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $47.88M | $48.38M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $66.88M | $67.34M |
YoY Change | -1.68% | 0.62% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $270.8K | $578.1K |
YoY Change | -70.88% | 43.02% |
Depreciation, Depletion And Amortization | $400.0K | $408.5K |
YoY Change | -1.22% | 1.01% |
Cash From Operating Activities | $1.100M | $1.307M |
YoY Change | -21.59% | 0.41% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $50.00K | $44.53K |
YoY Change | -174.65% | 205.63% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | ||
YoY Change | ||
Cash From Investing Activities | -$50.00K | -$44.53K |
YoY Change | -25.35% | -405.63% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -930.0K | -944.7K |
YoY Change | 565.81% | -308.6% |
NET CHANGE | ||
Cash From Operating Activities | 1.100M | 1.307M |
Cash From Investing Activities | -50.00K | -44.53K |
Cash From Financing Activities | -930.0K | -944.7K |
Net Change In Cash | 120.0K | 317.3K |
YoY Change | -89.97% | -82.06% |
FREE CASH FLOW | ||
Cash From Operating Activities | $1.100M | $1.307M |
Capital Expenditures | $50.00K | $44.53K |
Free Cash Flow | $1.050M | $1.262M |
YoY Change | -28.56% | -1.91% |
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10824760 | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11081799 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10773643 | ||
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48339114 | |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
37787 | |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
992541 | |
CY2023Q1 | us-gaap |
Dividends
Dividends
|
805228 | |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48564214 | |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
43921 | |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
578070 | |
CY2023Q2 | us-gaap |
Dividends
Dividends
|
807933 | |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48378272 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
47118097 | |
CY2022Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
198370 | |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
52604 | |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
283207 | |
CY2022Q1 | us-gaap |
Dividends
Dividends
|
700339 | |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
46951939 | |
CY2022Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
985953 | |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
39329 | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
404200 | |
CY2022Q2 | us-gaap |
Dividends
Dividends
|
708487 | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
47672934 | |
us-gaap |
Profit Loss
ProfitLoss
|
1570611 | ||
us-gaap |
Profit Loss
ProfitLoss
|
687407 | ||
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
815379 | ||
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
809383 | ||
us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
246703 | ||
us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
-830373 | ||
self |
Unrealized Gain Loss On Interest Rate Cap Premium
UnrealizedGainLossOnInterestRateCapPremium
|
-6237 | ||
self |
Unrealized Gain Loss On Interest Rate Cap Premium
UnrealizedGainLossOnInterestRateCapPremium
|
42157 | ||
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
69515 | ||
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
70089 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
81708 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
91933 | ||
self |
Gain Loss On Paycheck Protection Program Loan Forgiveness
GainLossOnPaycheckProtectionProgramLoanForgiveness
|
307210 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
7308 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
23387 | ||
us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
140934 | ||
us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-226487 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
161750 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
65294 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
2310255 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
2408212 | ||
self |
Payments To Acquire Improvements And Equipment
PaymentsToAcquireImprovementsAndEquipment
|
154135 | ||
self |
Payments To Acquire Improvements And Equipment
PaymentsToAcquireImprovementsAndEquipment
|
14916 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-154135 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-14916 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1184323 | ||
self |
Proceeds Received On Ppp Loan Forgiveness
ProceedsReceivedOnPppLoanForgiveness
|
307210 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1885539 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-179524 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
270581 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
2213772 | ||
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6515007 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3063699 | |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6785588 | |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5277471 | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
370723 | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
381089 | ||
CY2023Q2 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
3094 | |
CY2022Q2 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
1952 | |
self |
Change In Operating Lease Right Of Use Assets
ChangeInOperatingLeaseRightOfUseAssets
|
9150 | ||
self |
Change In Operating Lease Right Of Use Assets
ChangeInOperatingLeaseRightOfUseAssets
|
4704 | ||
self |
Change In Operating Lease Liabilities
ChangeInOperatingLeaseLiabilities
|
9150 | ||
self |
Change In Operating Lease Liabilities
ChangeInOperatingLeaseLiabilities
|
4704 | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">1. ORGANIZATION</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">Global Self Storage, Inc. (the “Company,” “we,” “our,” “us”) is a self-administered and self-managed Maryland real estate investment trust (“REIT”) that owns, operates, manages, acquires, develops and redevelops self storage properties (“stores” or “properties”) in the United States. As of June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">, through its wholly owned subsidiaries, the Company owned and/or managed </span><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">13</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;"> self-storage properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina, and Oklahoma. The Company operates primarily in </span><span style="font-size:10.0pt;font-family:"Times New Roman", serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;"> segment: rental operations.</span> | ||
CY2023Q2 | us-gaap |
Number Of Stores
NumberOfStores
|
13 | |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6595345 | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
6363610 | |
CY2023Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
190243 | |
CY2022Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
151397 | |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6785588 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6515007 | |
self |
Percentage Of Real Estate Investment Trust Taxable Income Distributed For Exemption Of Federal Income Tax
PercentageOfRealEstateInvestmentTrustTaxableIncomeDistributedForExemptionOfFederalIncomeTax
|
0.90 | ||
CY2023Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
self |
Services Agreement Original Terms
ServicesAgreementOriginalTerms
|
P3Y | ||
self |
Number Of Contract
NumberOfContract
|
1 | ||
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the 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 materially differ from management's estimates.</span></p> | ||
CY2023Q2 | us-gaap |
Land
Land
|
6122065 | |
CY2022Q4 | us-gaap |
Land
Land
|
6122065 | |
CY2023Q2 | self |
Real Estate Investment Buildings Improvements And Equipment
RealEstateInvestmentBuildingsImprovementsAndEquipment
|
60838528 | |
CY2022Q4 | self |
Real Estate Investment Buildings Improvements And Equipment
RealEstateInvestmentBuildingsImprovementsAndEquipment
|
60684393 | |
CY2023Q2 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
66960593 | |
CY2022Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
66806458 | |
CY2023Q2 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
10737677 | |
CY2022Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
9922298 | |
CY2023Q2 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
56222916 | |
CY2022Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
56884160 | |
CY2023Q2 | us-gaap |
Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
|
755487 | |
CY2023Q2 | self |
Equity Securities Unrealized Gain
EquitySecuritiesUnrealizedGain
|
1857369 | |
CY2023Q2 | us-gaap |
Equity Securities Fv Ni
EquitySecuritiesFvNi
|
2612856 | |
CY2022Q4 | us-gaap |
Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
|
755487 | |
CY2022Q4 | self |
Equity Securities Unrealized Gain
EquitySecuritiesUnrealizedGain
|
1610666 | |
CY2022Q4 | us-gaap |
Equity Securities Fv Ni
EquitySecuritiesFvNi
|
2366153 | |
self |
Fair Value Of Assets Level1 To Level2 Transfers Amount
FairValueOfAssetsLevel1ToLevel2TransfersAmount
|
0 | ||
CY2023Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
0 | |
CY2023Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
0 | |
CY2023Q2 | us-gaap |
Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
|
15883218 | |
CY2016Q2 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
646246 | |
CY2023Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
17525984 | |
CY2022Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
17801456 | |
CY2023Q2 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
361887 | |
CY2022Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
380602 | |
CY2023Q2 | self |
Notes Payable Net
NotesPayableNet
|
17164097 | |
CY2022Q4 | self |
Notes Payable Net
NotesPayableNet
|
17420854 | |
CY2023Q2 | us-gaap |
Debt Instrument Collateral Amount
DebtInstrumentCollateralAmount
|
24300000 | |
CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
282280 | |
CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
582591 | |
CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
607488 | |
CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
633449 | |
CY2023Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
660519 | |
CY2023Q2 | self |
Long Term Debt Maturities Repayments Of Principal After Year Four1
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour1
|
14759657 | |
CY2023Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
17525984 | |
CY2023Q2 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.0817 | |
CY2023Q2 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | |
CY2022Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | |
CY2023Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
45050 | |
CY2023Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
45050 | |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
54199 | |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
54199 | |
CY2023Q2 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
4596 | |
CY2022Q2 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
3479 | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
9150 | ||
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
6918 | ||
CY2023Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y3M18D | |
CY2023Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0377 | |
CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
578070 | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
404200 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1570611 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
687407 | ||
CY2023Q2 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
6983 | |
CY2022Q2 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
6174 | |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
12258 | ||
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
11711 | ||
CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
571087 | |
CY2022Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
398026 | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1558353 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
675696 | ||
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11041503 | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10767619 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11037868 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10714565 | ||
CY2023Q2 | self |
Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
WeightedAverageNumberOfSharesOutstandingNetEffectOfDilutiveUnvestedRestrictedStockAwardsIncludedForTreasuryStockMethod
|
41755 | |
CY2022Q2 | self |
Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
WeightedAverageNumberOfSharesOutstandingNetEffectOfDilutiveUnvestedRestrictedStockAwardsIncludedForTreasuryStockMethod
|
57141 | |
self |
Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
WeightedAverageNumberOfSharesOutstandingNetEffectOfDilutiveUnvestedRestrictedStockAwardsIncludedForTreasuryStockMethod
|
43931 | ||
self |
Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
WeightedAverageNumberOfSharesOutstandingNetEffectOfDilutiveUnvestedRestrictedStockAwardsIncludedForTreasuryStockMethod
|
59078 | ||
CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11083258 | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10824760 | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11081799 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10773643 | ||
CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.04 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.14 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.06 | ||
CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.04 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.14 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.06 | ||
CY2023Q2 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
807933 | |
CY2023Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.0725 | |
CY2022Q2 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
708487 | |
CY2022Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.065 | |
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
1613161 | ||
us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.145 | ||
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
1408829 | ||
us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.13 | ||
self |
Reimbursement Of Automobile Expenses
ReimbursementOfAutomobileExpenses
|
1000 | ||
self |
Automobile Reimbursement Amount
AutomobileReimbursementAmount
|
8198 | ||
self |
Automobile Reimbursement Amount
AutomobileReimbursementAmount
|
1878 | ||
CY2022Q2 | self |
Proceeds Received On Ppp Loan Forgiveness
ProceedsReceivedOnPppLoanForgiveness
|
307210 | |
CY2022Q2 | self |
Proceeds Received On Ppp Loan Forgiveness
ProceedsReceivedOnPppLoanForgiveness
|
307210 | |
CY2023Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
450000000 | |
CY2023Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
11143908 | |
CY2023Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
11143908 | |
CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
50000000 | |
CY2023Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;font-style:italic;min-width:fit-content;">Credit Risk</span><p style="text-indent:4.173%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:"Times New Roman", serif;min-width:fit-content;">Credit risk - Financial assets that are exposed to credit risk consist primarily of cash, cash equivalents, and restricted cash and certain portions of accounts receivable including rents receivable from our tenants. Risk to collection of rents receivable is mitigated by: (i) dispersion of rents receivable across many tenants, (ii) marketing targeted to tenants that have established credit, (iii) use of autopay, and (iv) use of collection procedures. Cash, cash equivalents and restricted cash are on deposit with highly rated commercial banks.</span></p> |