2024 Q1 Form 10-K Financial Statement

#000145247724000011 Filed on February 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $9.362M $18.92M $38.24M
YoY Change 0.16% 13.1% -0.33%
Cost Of Revenue $9.753M $9.998M $37.82M
YoY Change 11.26% 17.5% 72.78%
Gross Profit $8.282M $8.920M $33.93M
YoY Change 0.08% 8.54% -0.5%
Gross Profit Margin 88.46% 47.15% 88.75%
Selling, General & Admin $1.013M $1.236M $4.915M
YoY Change 27.26% 67.03% 20.47%
% of Gross Profit 12.23% 13.86% 14.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $368.0K $294.0K $604.0K
YoY Change
% of Gross Profit 4.44% 3.3% 1.78%
Operating Expenses $2.401M $2.419M $6.712M
YoY Change 431.19% 66.6% 6.34%
Operating Profit $5.881M $6.501M $27.22M
YoY Change -24.82% -3.92% -2.05%
Interest Expense $8.673M $33.52M
YoY Change 12.72% 90.12%
% of Operating Profit 147.47% 123.14%
Other Income/Expense, Net
YoY Change
Pretax Income $5.236M $5.942M $25.93M
YoY Change -33.07% -12.18% -6.58%
Income Tax $3.000K -$103.0K -$38.00K
% Of Pretax Income 0.06% -1.73% -0.15%
Net Earnings $5.233M $6.045M $25.97M
YoY Change -32.94% -10.58% -6.06%
Net Earnings / Revenue 55.9% 31.95% 67.91%
Basic Earnings Per Share $0.35 $1.76
Diluted Earnings Per Share $0.35 $0.41 $1.76
COMMON SHARES
Basic Shares Outstanding 14.81M shares 14.81M shares 14.63M shares
Diluted Shares Outstanding 14.68M shares 14.63M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $93.30M $87.86M $87.86M
YoY Change 10.67% 23.64% 23.64%
Cash & Equivalents $93.30M $87.86M $87.86M
Short-Term Investments
Other Short-Term Assets $2.459M $2.537M $2.537M
YoY Change 109.1% -56.64% -56.64%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $95.76M $90.39M $90.39M
YoY Change 12.03% 17.53% 17.53%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $602.0M $641.1M $641.1M
YoY Change -3.11% -4.3% -4.3%
TOTAL ASSETS
Total Short-Term Assets $95.76M $90.39M $90.39M
Total Long-Term Assets $602.0M $641.1M $641.1M
Total Assets $697.7M $731.5M $731.5M
YoY Change -1.28% -2.05% -2.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.734M $3.808M $3.808M
YoY Change 14.47% 100.11% 100.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $157.1M
YoY Change
Total Short-Term Liabilities $162.0M $5.855M $5.855M
YoY Change 2776.67% 56.26% 56.26%
LONG-TERM LIABILITIES
Long-Term Debt $264.1M $454.4M $454.4M
YoY Change -39.06% -3.63% -3.63%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $264.1M $454.4M $454.4M
YoY Change -39.06% -3.63% -3.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $162.0M $5.855M $5.855M
Total Long-Term Liabilities $264.1M $454.4M $454.4M
Total Liabilities $426.2M $460.3M $460.3M
YoY Change -2.93% -3.15% -3.15%
SHAREHOLDERS EQUITY
Retained Earnings $76.89M $71.66M
YoY Change 43.73% 37.04%
Common Stock $239.7M $239.5M
YoY Change 0.46% 0.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $271.6M $271.2M $271.2M
YoY Change
Total Liabilities & Shareholders Equity $697.7M $731.5M $731.5M
YoY Change -1.28% -2.05% -2.05%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $5.233M $6.045M $25.97M
YoY Change -32.94% -10.58% -6.06%
Depreciation, Depletion And Amortization $368.0K $294.0K $604.0K
YoY Change
Cash From Operating Activities $4.724M $5.330M $20.27M
YoY Change -28.17% 91.18% 58.97%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $39.55M $46.54M $35.84M
YoY Change -21.31% 67.41% -142.64%
Cash From Investing Activities $39.55M $46.54M $35.84M
YoY Change -21.31% 67.41% -142.64%
FINANCING ACTIVITIES
Cash Dividend Paid $5.184M $20.64M
YoY Change 0.72% 41.02%
Common Stock Issuance & Retirement, Net $183.0K
YoY Change 33.58%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$38.84M -24.55M -$39.33M
YoY Change -10.94% -31.74% -133.88%
NET CHANGE
Cash From Operating Activities $4.724M 5.330M $20.27M
Cash From Investing Activities $39.55M 46.54M $35.84M
Cash From Financing Activities -$38.84M -24.55M -$39.33M
Net Change In Cash $5.443M 27.33M $16.79M
YoY Change -58.89% -608.9% -62.5%
FREE CASH FLOW
Cash From Operating Activities $4.724M $5.330M $20.27M
Capital Expenditures
Free Cash Flow
YoY Change

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PaymentsForRepurchaseOfCommonStock
183000 usd
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
137000 usd
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
20639000 usd
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
14636000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-39326000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
116088000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16788000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
44772000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71067000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26295000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87855000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
71067000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
32079000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
15710000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
135000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
134000 usd
CY2023 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
14800000 usd
CY2022 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
0 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
Actual results could differ from those estimates. Significant estimates in the accompanying consolidated financial statements include our allowance for credit losses and the fair value of financial instruments.
CY2023 us-gaap Subsidiary Or Equity Method Investee Cumulative Percentage Ownership After All Transactions
SubsidiaryOrEquityMethodInvesteeCumulativePercentageOwnershipAfterAllTransactions
1
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Allowance for Credit Losses. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 1, 2023, we adopted Accounting Standards Update, or ASU, No. 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Measurement of Credit Losses on Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which replaces the “incurred loss” model for recognizing credit losses with a forward-looking “expected loss” model that generally will result in the earlier recognition of credit losses. The measurement of current expected credit losses, or CECL, is based upon historical experience, current conditions, and reasonable and supportable forecasts incorporating forward-looking information that affect the collectability of the reported amount. ASU No. 2016-13 is applicable to financial assets measured at amortized cost and off-balance sheet credit exposures, such as unfunded loan commitments. </span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The allowance for credit losses required under ASU No. 2016-13 is a valuation account that is deducted from the related loans’ amortized cost basis in our consolidated balance sheets. Our loans typically include commitments to fund incremental proceeds to borrowers over the life of the loan; these future funding commitments are also subject to the CECL model. The allowance for credit losses related to unfunded loan commitments is included in accounts payable, accrued liabilities and other liabilities in our consolidated balance sheets. </span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Given the lack of historical loss data related to our loan portfolio, we estimate our expected losses using an analytical model that considers the likelihood of default and loss given default for each individual loan. This analytical model incorporates data from a third party database with historical loan loss information for commercial mortgage-backed securities, or CMBS, and commercial real estate, or CRE, loans since 1998. We estimate the allowance for credit losses for our loan portfolio, including unfunded loan commitments, at the individual loan level. Significant inputs to the model include certain loan specific data, such as loan to value, or LTV, property type, geographic location, occupancy, vintage year, remaining loan term, net operating income, expected timing and amounts of future loan fundings, and macroeconomic forecast assumptions, including the performance of CRE assets, unemployment rates, interest rates and other factors. We utilize the model to estimate credit losses over a reasonable and supportable economic forecast period, followed by a straight-line reversion period to average historical losses. Average historical losses are established using a population of third party historical loss data that approximates our portfolio as of the measurement date. We evaluate the estimated allowance for each of our loans individually and we consider our internal loan risk rating as the primary credit quality indicator underlying our assessment.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If a loan is determined to be collateral dependent (because the repayment of the loan is expected to be provided substantially through the operation or sale of the underlying collateral property) and the borrower is experiencing financial difficulties, but foreclosure is not probable, we may elect to apply a practical expedient to determine the loan's allowance for credit losses by comparing the collateral's fair value, less costs to sell, if applicable, to the amortized cost basis of the loan. For collateral-dependent loans for which foreclosure is probable, the related allowance for credit losses is determined using the fair value, less costs to sell, if applicable, of the collateral compared to the loan's amortized cost.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon adoption of ASU No. 2016-13 using the modified retrospective transition method and, based on our loan portfolio, the then current economic environment and expectations for future conditions, we recorded a cumulative-effect adjustment reducing our cumulative net income in our consolidated balance sheets by $6,595, establishing an allowance for credit losses of $4,893 with respect to our then outstanding loans held for investment and increasing accounts payable, accrued liabilities and other liabilities by $1,702 with respect to our then unfunded loan commitments. No reserve for loan losses or allowance for credit losses was recognized within our consolidated financial statements prior to our adoption of ASU No. 2016-13.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Concurrent with our adoption of ASU No. 2016-13, on January 1, 2023, we adopted ASU No. 2022-02, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which eliminated the guidance for and recognitions of troubled debt restructurings for all entities that adopted ASU No. 2016-13. Instead, an entity must determine whether a modification results in a new loan or continuation of an existing loan under Accounting Standards Codification, or ASC, 310, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Receivables (Topic 310).</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> If a borrower is experiencing financial difficulty, enhanced disclosures are required. ASU No. 2022-02 also requires disclosure of current period gross write offs by year of origination. The adoption of ASU No. 2022-02 using the prospective transition method did not have a material impact on our consolidated financial statements. See Note 3 to our Consolidated Financial Statements included in Part IV, Item 15 of this 2023 Annual Report for further information regarding loan modifications.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We evaluate the credit quality of each of our loans at least quarterly by assessing a variety of risk factors in relation to each loan and assigning a risk rating to each loan based on those factors. Factors considered in these evaluations include, but are not limited to, property type, geographic and local market dynamics, physical condition, leasing and tenant profile, projected cash flow, risk of loss, current LTV, debt yield, collateral performance, structure, exit plan and sponsorship. Loans are rated “1” (less risk) through “5” (greater risk) as defined below:</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“1” lower risk—Criteria reflects a sponsor having a strong financial condition and low credit risk and our evaluation of management's experience; collateral performance exceeding performance metrics included in the business plan or credit underwriting; and the property demonstrating stabilized occupancy and/or market rates, resulting in strong current cash flow and net operating income and/or having a very low LTV. </span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“2” average risk—Criteria reflects a sponsor having a stable financial condition and our evaluation of management's experience; collateral performance meeting or exceeding substantially all performance metrics included in the business plan or credit underwriting; and the property demonstrating improved occupancy at market rents, resulting in sufficient current cash flow and/or having a low LTV.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“3” acceptable risk—Criteria reflects a sponsor having a history of repaying loans at maturity and meeting its credit obligations and our evaluation of management's experience; collateral performance expected to meet performance metrics included in the business plan or credit underwriting; and the property having a moderate LTV. New loans and loans with a limited history will typically be assigned this rating and will be adjusted to other levels from time to time as appropriate.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“4” higher risk—Criteria reflects a sponsor having a history of unresolved missed or late payments, maturity extensions and difficulty timely fulfilling its credit obligations and our evaluation of management's experience; collateral performance failing to meet the business plan or credit underwriting; the existence of a risk of default possibly leading to a loss and/or potential weaknesses that deserve management’s attention; and/or the property having a high LTV.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> “5” loss likely—Criteria reflects a very high risk of realizing a principal loss or having incurred a principal loss; a sponsor having a history of default payments, trouble fulfilling its credit obligations, deeds in lieu of foreclosures, and/or bankruptcies; collateral performance is significantly worse than performance metrics included in the business plan; loan covenants or performance milestones having been breached or not attained; timely exit via sale or refinancing being uncertain; and/or the property having a very high LTV.</span></div><div style="margin-bottom:10pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 3 for further information regarding our allowance for credit losses and our loan portfolio’s assessment under our internal risk rating policy.</span></div>
CY2023Q4 sevn Real Estate Owned Gross
RealEstateOwnedGross
11393000 usd
CY2023Q4 us-gaap Real Estate Owned Accumulated Depreciation
RealEstateOwnedAccumulatedDepreciation
115000 usd
CY2023Q4 sevn Real Estate Owned Net
RealEstateOwnedNet
11278000 usd
CY2023Q4 sevn Real Estate Owned Depreciation Expense
RealEstateOwnedDepreciationExpense
136000 usd
CY2023Q4 sevn Real Estate Investment Accumulated Amortization
RealEstateInvestmentAccumulatedAmortization
458000 usd
CY2023Q4 sevn Real Estate Investment Other Acquired Real Estate Leases
RealEstateInvestmentOtherAcquiredRealEstateLeases
4595000 usd
CY2023Q4 sevn Real Estate Investment Accumulated Amortization
RealEstateInvestmentAccumulatedAmortization
458000 usd
CY2023Q4 sevn Real Estate Investment Other Acquired Real Estate Leases Net
RealEstateInvestmentOtherAcquiredRealEstateLeasesNet
4137000 usd
CY2023Q4 sevn Real Estate Lease Weighted Average Remaining Lease Term
RealEstateLeaseWeightedAverageRemainingLeaseTerm
P7Y4M24D
CY2023Q4 sevn Real Estate Acquired Amortization In Year Next Twelve Months
RealEstateAcquiredAmortizationInYearNextTwelveMonths
771000 usd
CY2023Q4 sevn Real Estate Acquired Amortization In Year Two
RealEstateAcquiredAmortizationInYearTwo
594000 usd
CY2023Q4 sevn Real Estate Acquired Amortization In Year Three
RealEstateAcquiredAmortizationInYearThree
493000 usd
CY2023Q4 sevn Real Estate Acquired Amortization In Year Four
RealEstateAcquiredAmortizationInYearFour
493000 usd
CY2023Q4 sevn Real Estate Acquired Amortization In Year Five
RealEstateAcquiredAmortizationInYearFive
466000 usd
CY2023Q4 sevn Real Estate Acquired Amortization Thereafter
RealEstateAcquiredAmortizationThereafter
1320000 usd
CY2023 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
24 loan
CY2022 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
27 loan
CY2023Q4 sevn Loans Held For Investment Commitments
LoansHeldForInvestmentCommitments
670293000 usd
CY2022Q4 sevn Loans Held For Investment Commitments
LoansHeldForInvestmentCommitments
727562000 usd
CY2023Q4 sevn Financing Receivable Unfunded Loan Commitments
FinancingReceivableUnfundedLoanCommitments
40401000 usd
CY2022Q4 sevn Financing Receivable Unfunded Loan Commitments
FinancingReceivableUnfundedLoanCommitments
49007000 usd
CY2023Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
629892000 usd
CY2022Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
678555000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
622086000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
669929000 usd
CY2023Q4 sevn Loans Receivable Weighted Average Coupon Rate Percentage
LoansReceivableWeightedAverageCouponRatePercentage
0.0919
CY2022Q4 sevn Loans Receivable Weighted Average Coupon Rate Percentage
LoansReceivableWeightedAverageCouponRatePercentage
0.0807
CY2023Q4 sevn Loans Receivable Average All In Yield Percentage
LoansReceivableAverageAllInYieldPercentage
0.0964
CY2022Q4 sevn Loans Receivable Average All In Yield Percentage
LoansReceivableAverageAllInYieldPercentage
0.0857
CY2023Q4 sevn Loans Receivable Weighted Average Libor Floor Percentage
LoansReceivableWeightedAverageLIBORFloorPercentage
0.0136
CY2022Q4 sevn Loans Receivable Weighted Average Libor Floor Percentage
LoansReceivableWeightedAverageLIBORFloorPercentage
0.0062
CY2023 sevn Loans Receivable Weighted Average Term Of Maturity
LoansReceivableWeightedAverageTermOfMaturity
P3Y
CY2022 sevn Loans Receivable Weighted Average Term Of Maturity
LoansReceivableWeightedAverageTermOfMaturity
P3Y3M18D
CY2023Q4 sevn Mortgage Loans On Real Estate Weighted Average Risk Rating Of Portfolio
MortgageLoansOnRealEstateWeightedAverageRiskRatingOfPortfolio
3.0
CY2022Q4 sevn Mortgage Loans On Real Estate Weighted Average Risk Rating Of Portfolio
MortgageLoansOnRealEstateWeightedAverageRiskRatingOfPortfolio
2.9
CY2021Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
590590000 usd
CY2021Q4 sevn Real Estate Companies Investment In Mortgage Loans On Real Estate Deferred Fees And Other Items
RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeferredFeesAndOtherItems
19810000 usd
CY2021Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
570780000 usd
CY2022 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
17310000 usd
CY2022 sevn Mortgage Loan Additional Funding Deferred Fees And Other Items
MortgageLoanAdditionalFundingDeferredFeesAndOtherItems
0 usd
CY2022 sevn Mortgage Loan Additional Funding Net
MortgageLoanAdditionalFundingNet
17310000 usd
CY2022 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
203244000 usd
CY2022 us-gaap Mortgage Loans On Real Estate Other Deductions
MortgageLoansOnRealEstateOtherDeductions
2306000 usd
CY2022 us-gaap Mortgage Loans On Real Estate Period Increase Decrease
MortgageLoansOnRealEstatePeriodIncreaseDecrease
200938000 usd
CY2022 sevn Mortgage Loan Repayments Gross
MortgageLoanRepaymentsGross
132589000 usd
CY2022 sevn Mortgage Loan Repayments Deferred Fees And Other Items
MortgageLoanRepaymentsDeferredFeesAndOtherItems
979000 usd
CY2022 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
133568000 usd
CY2022 sevn Amortization Of Deferred Loan Origination Fees Excluding Repayments Net
AmortizationOfDeferredLoanOriginationFeesExcludingRepaymentsNet
3780000 usd
CY2022 sevn Amortization Of Deferred Loan Origination Fees Excluding Repayments Net
AmortizationOfDeferredLoanOriginationFeesExcludingRepaymentsNet
3780000 usd
CY2022 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
10689000 usd
CY2022 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
10689000 usd
CY2022Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
678555000 usd
CY2022Q4 sevn Real Estate Companies Investment In Mortgage Loans On Real Estate Deferred Fees And Other Items
RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeferredFeesAndOtherItems
8626000 usd
CY2022Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
669929000 usd
CY2023 us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
5650000 usd
CY2023 sevn Mortgage Loan Additional Funding Deferred Fees And Other Items
MortgageLoanAdditionalFundingDeferredFeesAndOtherItems
-14000 usd
CY2023 sevn Mortgage Loan Additional Funding Net
MortgageLoanAdditionalFundingNet
5636000 usd
CY2023 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
133300000 usd
CY2023 us-gaap Mortgage Loans On Real Estate Other Deductions
MortgageLoansOnRealEstateOtherDeductions
1621000 usd
CY2023 us-gaap Mortgage Loans On Real Estate Period Increase Decrease
MortgageLoansOnRealEstatePeriodIncreaseDecrease
131679000 usd
CY2023 sevn Mortgage Loan Repayments Gross
MortgageLoanRepaymentsGross
171748000 usd
CY2023 sevn Mortgage Loan Repayments Deferred Fees And Other Items
MortgageLoanRepaymentsDeferredFeesAndOtherItems
535000 usd
CY2023 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
172283000 usd
CY2023 sevn Mortgage Loans On Real Estate Transfer To Real Estate Owned Principal
MortgageLoansOnRealEstateTransferToRealEstateOwnedPrincipal
-15865000 usd
CY2023 sevn Mortgage Loans On Real Estate Transfer To Real Estate Owned Deferred Fees And Other Items
MortgageLoansOnRealEstateTransferToRealEstateOwnedDeferredFeesAndOtherItems
-95000 usd
CY2023 sevn Mortgage Loans On Real Estate Transfer To Real Estate Owned Amortized Cost
MortgageLoansOnRealEstateTransferToRealEstateOwnedAmortizedCost
15960000 usd
CY2023 sevn Amortization Of Deferred Loan Origination Fees Excluding Repayments Net
AmortizationOfDeferredLoanOriginationFeesExcludingRepaymentsNet
3333000 usd
CY2023 sevn Amortization Of Deferred Loan Origination Fees Excluding Repayments Net
AmortizationOfDeferredLoanOriginationFeesExcludingRepaymentsNet
3333000 usd
CY2023 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
4128000 usd
CY2023 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
4128000 usd
CY2023Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
629892000 usd
CY2023Q4 sevn Real Estate Companies Investment In Mortgage Loans On Real Estate Deferred Fees And Other Items
RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateDeferredFeesAndOtherItems
3430000 usd
CY2023 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
24 loan
CY2023Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2022 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
27 loan
CY2022Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
669929000 usd
CY2022Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2023 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
24 loan
CY2023Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2022 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
27 loan
CY2022Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2023Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
132204000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
209580000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
246130000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
38548000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
626462000 usd
CY2022 srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
27 loan
CY2022Q4 sevn Mortgage Loans On Real Estate Percentage Of Value Of Portfolio
MortgageLoansOnRealEstatePercentageOfValueOfPortfolio
1
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year One Originated Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear
206022000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Two Originated Fiscal Year Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
340818000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Year Three Originated Two Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
78448000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Originated More Than Five Years Before Current Fiscal Year
FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear
44641000 usd
CY2022Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
669929000 usd
CY2023 us-gaap Financing Receivable Accrued Interest Writeoff
FinancingReceivableAccruedInterestWriteoff
88000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
14800000 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
2880000 usd
CY2023Q2 sevn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Building And Building Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingAndBuildingImprovements
7325000 usd
CY2023Q2 sevn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Real Estate Leases
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRealEstateLeases
4595000 usd
CY2023Q4 us-gaap Real Estate Investments Other
RealEstateInvestmentsOther
1352000 usd
CY2023Q4 sevn Real Estate Investment Other Straight Line Rent Receivable
RealEstateInvestmentOtherStraightLineRentReceivable
647000 usd
CY2023Q4 sevn Real Estate Owned Accrued Expenses And Other Liabilities
RealEstateOwnedAccruedExpensesAndOtherLiabilities
517000 usd
CY2023 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
647000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1743000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1925000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
1824000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1892000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
1868000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5957000 usd
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
15209000 usd
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
17421 shares
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
13898 shares
CY2023 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
183000 usd
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
137000 usd
CY2023 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.40
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
20639000 usd
CY2023 sevn Common Stock Dividends Return Of Capital Percentage
CommonStockDividendsReturnOfCapitalPercentage
0
CY2023 sevn Common Stock Dividends Ordinary Income Distribution Percentage
CommonStockDividendsOrdinaryIncomeDistributionPercentage
1
CY2023 sevn Common Stock Dividends Qualified Dividend Percentage
CommonStockDividendsQualifiedDividendPercentage
0
CY2022 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.00
CY2022 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14636000 usd
CY2022 sevn Common Stock Dividends Return Of Capital Percentage
CommonStockDividendsReturnOfCapitalPercentage
0
CY2022 sevn Common Stock Dividends Ordinary Income Distribution Percentage
CommonStockDividendsOrdinaryIncomeDistributionPercentage
1
CY2022 sevn Common Stock Dividends Qualified Dividend Percentage
CommonStockDividendsQualifiedDividendPercentage
0
CY2023Q4 dei Entity Number Of Employees
EntityNumberOfEmployees
0 employee
CY2021Q1 sevn Base Management Fee Percent Fee Annualized
BaseManagementFeePercentFeeAnnualized
0.015
CY2021Q1 sevn Base Management Fee Percent Fee Quarterly
BaseManagementFeePercentFeeQuarterly
0.00375
CY2021Q1 sevn Management Fee Incentive Fee Percentage
ManagementFeeIncentiveFeePercentage
0.20
CY2021Q1 sevn Management Fee Incentive Fee Percentage Annual
ManagementFeeIncentiveFeePercentageAnnual
0.07
CY2023 sevn Management Agreement Term
ManagementAgreementTerm
P1Y
CY2023 sevn Management Agreement Termination Upon Written Notice Delivery Term
ManagementAgreementTerminationUponWrittenNoticeDeliveryTerm
P180D
CY2023 sevn Management Agreement Termination Upon Written Notice Delivery Term
ManagementAgreementTerminationUponWrittenNoticeDeliveryTerm
P180D
CY2023 sevn Management Agreement Termination Upon Written Notice Cause Event Term
ManagementAgreementTerminationUponWrittenNoticeCauseEventTerm
P30D
CY2023 sevn Management Agreement Termination Fee Multiplier
ManagementAgreementTerminationFeeMultiplier
3
CY2023 sevn Management Agreement Termination Fee Calculation Period
ManagementAgreementTerminationFeeCalculationPeriod
P24M
CY2023 sevn Management Agreement Termination Fee
ManagementAgreementTerminationFee
1600000 usd
CY2023 sevn Management Agreement Formation Costs Included In Termination Fee
ManagementAgreementFormationCostsIncludedInTerminationFee
6680000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
25965000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
27640000 usd
CY2023 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
219000 usd
CY2022 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
193000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
25746000 usd
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
25746000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27447000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
27447000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14625000 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14625000 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14540000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14540000 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.76
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.76
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.89
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.89
CY2023Q4 sevn Financing Receivable Unfunded Loan Commitments
FinancingReceivableUnfundedLoanCommitments
40401000 usd
CY2023Q4 sevn Unspent Leasing Related Obligation
UnspentLeasingRelatedObligation
361000 usd
CY2021Q4 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Net
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet
570780000 usd
CY2022 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
203244000 usd
CY2022 sevn Mortgage Loan Additional Funding Net
MortgageLoanAdditionalFundingNet
17310000 usd
CY2022 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
10689000 usd
CY2022 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Amortization Of Deferred Fees
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAmortizationOfDeferredFees
3780000 usd
CY2022 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
133568000 usd
CY2022 us-gaap Mortgage Loans On Real Estate Other Deductions
MortgageLoansOnRealEstateOtherDeductions
2306000 usd
CY2022Q4 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Net
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet
669929000 usd
CY2023 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
133300000 usd
CY2023 sevn Mortgage Loan Additional Funding Net
MortgageLoanAdditionalFundingNet
5636000 usd
CY2023 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Purchase Discount Accretion
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstatePurchaseDiscountAccretion
4128000 usd
CY2023 sevn Amortization Of Deferred Loan Origination Fees Excluding Repayments Net
AmortizationOfDeferredLoanOriginationFeesExcludingRepaymentsNet
3333000 usd
CY2023 sevn Sec Schedule1228 Real Estate Companies Investment In Real Estate Allowance For Credit Losses Period Increase Decrease
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAllowanceForCreditLossesPeriodIncreaseDecrease
517000 usd
CY2023 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
172283000 usd
CY2023 sevn Mortgage Loans On Real Estate Transfer To Real Estate Owned Amortized Cost
MortgageLoansOnRealEstateTransferToRealEstateOwnedAmortizedCost
15960000 usd
CY2023 us-gaap Mortgage Loans On Real Estate Other Deductions
MortgageLoansOnRealEstateOtherDeductions
1621000 usd
CY2023Q4 sevn Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Net
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateNet
622086000 usd

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