$SQFT
Presidio Property Trust, Inc.

2015 Q1 Form 10-K Financial Statement

#000108065715000004 Filed on March 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 2013 Q4
Revenue $5.383M $16.47M
YoY Change 37.34% -15.79%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.862M $6.049M
YoY Change 57.96% 13.93%
% of Gross Profit
Operating Expenses $4.890M $16.66M
YoY Change 37.21%
Operating Profit $3.473M
YoY Change
Interest Expense $2.380M
YoY Change
% of Operating Profit 68.51%
Other Income/Expense, Net -$2.352M -$672.2K
YoY Change 676.5% -77.22%
Pretax Income
YoY Change
Income Tax $65.81K $813.5K
% Of Pretax Income
Net Earnings -$1.962M -$4.046M
YoY Change 444.99%
Net Earnings / Revenue -36.45% -24.56%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 16.88M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $4.476M $10.21M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $2.423M $2.423M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $223.1M $182.0M
YoY Change -1.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $153.9M $96.15M
YoY Change -1.63%
SHAREHOLDERS EQUITY
Retained Earnings -$86.82M -$71.23M
YoY Change 22.09%
Common Stock $144.3M $141.5M
YoY Change 4.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.67M $70.43M
YoY Change
Total Liabilities & Shareholders Equity $223.1M $182.0M
YoY Change -1.68%

Cashflow Statement

Concept 2015 Q1 2014 2013 Q4
OPERATING ACTIVITIES
Net Income -$1.962M -$4.046M
YoY Change 444.99%
Depreciation, Depletion And Amortization $1.862M $6.049M
YoY Change 57.96% 13.93%
Cash From Operating Activities $413.4K $4.177M
YoY Change -346.16% 1.02%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.471M -$42.48M
YoY Change 1640.12% 26908.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $97.78K $212.2K
YoY Change -76.75% 521.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.897M 33.73M
YoY Change -256.43% -846.87%
NET CHANGE
Cash From Operating Activities 413.4K 4.177M
Cash From Investing Activities -5.471M -42.48M
Cash From Financing Activities 3.897M 33.73M
Net Change In Cash -1.160M -4.571M
YoY Change -60.97% 747.21%
FREE CASH FLOW
Cash From Operating Activities $413.4K $4.177M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 dei Document Type
DocumentType
10-K
CY2014 us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Revenue Recognition. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company recognizes revenue from rent, tenant reimbursements, and other revenue once all of the following criteria are met:</font></p><p style='text-align:justify;line-height:12pt;' ></p><ul><li style='list-style:lower-alpha;text-align:justify;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Persuasive evidence of an arrangement exists;</font></li><li style='list-style:lower-alpha;text-align:justify;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >Delivery has occurred or services have been </font><font style='font-family:Times New Roman;font-size:10pt;' >rendered;</font></li><li style='list-style:lower-alpha;text-align:justify;margin-top:0pt;margin-bottom:0pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The amount is fixed or determinable; and</font></li><li style='list-style:lower-alpha;text-align:justify;margin-top:0pt;margin-bottom:10pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >The collectability of the amount is reasonably assured.</font></li></ul><p style='text-align:justify;margin-top:0pt;margin-bottom:10pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Annual rental revenue is recognized in rental revenues on a straight-line basis over the term of the related lease. Estimated recoveries from certain</font><font style='font-family:Times New Roman;font-size:10pt;' > tenants for their pro rata share of real estate taxes, insurance and other operating expenses are recognized as revenues in the period the applicable expenses are incurred or as specified in the leases. Other tenants pay a fixed rate and these tenant reco</font><font style='font-family:Times New Roman;font-size:10pt;' >veries are recognized as revenue on a straight-line basis over the term of the related leases. </font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain of the Company&#8217;s leases currently contain rental increases at specified intervals. The Company records as an asset, and include in revenues, deferred re</font><font style='font-family:Times New Roman;font-size:10pt;' >nt receivable that will be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Deferred rent receivable in the accompanying balance sheets includes the cumulative difference between rental revenu</font><font style='font-family:Times New Roman;font-size:10pt;' >e recorded on a straight-line basis and rents received from the tenants in accordance with the lease terms. Accordingly, Management determines to what extent the deferred rent receivable applicable to each specific tenant is collectible. The Company review</font><font style='font-family:Times New Roman;font-size:10pt;' >s material deferred rent receivable and takes 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</font><font style='font-family:Times New Roman;font-size:10pt;' > is located. In the event that the collectability of deferred rent with respect to any given tenant is in doubt, we record an increase in the allowance for uncollectible accounts, the Company records a direct write-off of the specific rent receivable. No s</font><font style='font-family:Times New Roman;font-size:10pt;' >uch reserves related to deferred rent receivables have been recorded as of December 31, 2014 or 2013.</font></p><p style='text-align:justify;line-height:12pt;' ></p></div>
CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Reclassifications.</font><font style='font-family:Times New Roman;font-size:12pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Certain reclassifications have been made to the prior year&#8217;s consolidated financial statements to conform to the current year presentation. These reclassification</font><font style='font-family:Times New Roman;font-size:10pt;' >s had no effect on previously reported results of consolidated operations or equity. </font></p></div>
CY2014 netr Amortization Of Value Of In Place Leases
AmortizationOfValueOfInPlaceLeases
P10Y
CY2014 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Code, for federal income tax purposes. To qualify as a REIT, the Company must distribute annually at least 90% of adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. As a REIT, no provision is made for federal income taxes on income resulting from those sales of real estate investments which have or will be distributed to stockholders within the prescribed limits. However, taxes are provided for those gains which are not anticipated to be distributed to stockholders unless such gains are deferred pursuant to Section 1031. In addition, the Company is subject to a federal excise tax which equals 4% of the excess, if any, of 85% of the Company’s ordinary income plus 95% of the Company’s capital gain net income over cash distributions, as defined. The Company believes that it has met all of the REIT distribution and technical requirements for the years ended December 31, 2014 and 2013, respectively.
CY2014 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-01-01
CY2013 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
11535936 USD
CY2014 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
184366 USD
CY2014 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
18323955 USD
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RegisteredSharesOfCommonStockPursuantToDividendReinvestmentPlan
1500000 shares
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5443652 USD
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314000 USD
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4593291 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
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-157291 USD
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RetainedEarningsAccumulatedDeficit
-83150866 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1240455 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
26540852 USD
CY2014 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
608000 USD
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OperatingLeasesFutureMinimumPaymentsDueInFiveYears
7257632 USD
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-4516644 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8207816 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10207001 USD
CY2014 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4045683 USD
CY2014 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
122121 USD
CY2014 netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
4803000 USD
CY2014 us-gaap Asset Impairment Charges
AssetImpairmentCharges
950000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
93000 USD
CY2013 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
1992754 USD
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16798232 shares
CY2013Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
1465000 USD
CY2014 netr Proceeds From Issuance Of Mandatorily Preferred Stock
ProceedsFromIssuanceOfMandatorilyPreferredStock
13862103 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
4825908 USD
CY2014 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
2731221 USD
CY2013Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
160231124 USD
CY2013 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2523071 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
13019996 USD
CY2013 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.471
CY2013Q4 us-gaap Liabilities
Liabilities
96153261 USD
CY2013 us-gaap Restricted Stock Expense
RestrictedStockExpense
481930 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
87382668 USD
CY2013Q4 us-gaap Assets
Assets
182021344 USD
CY2014 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
156000 USD
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
115000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
224738555 USD
CY2014Q4 us-gaap Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
4250000 USD
CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
455819 USD
CY2013 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
754674 USD
CY2014 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
47194 USD
CY2013 us-gaap Stock Issued1
StockIssued1
3981651 USD
CY2014Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
154098293 USD
CY2014 us-gaap Real Estate Period Increase Decrease
RealEstatePeriodIncreaseDecrease
59063369 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
229308000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2046684 USD
CY2013 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4765552 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3844489 USD
CY2014 us-gaap Revenues
Revenues
19902410 USD
CY2013 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
950000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4086498 USD
CY2013 netr Dividends Cash Declared And Reinvested
DividendsCashDeclaredAndReinvested
-1240455 USD
CY2014 netr Stock Issued During Period Related Party Value New Issues
StockIssuedDuringPeriodRelatedPartyValueNewIssues
312792 USD
CY2014 us-gaap Interest Expense Debt
InterestExpenseDebt
6478976 USD
CY2014 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
536952 USD
CY2014Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
6631804 USD
CY2013 netr Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
5309560 USD
CY2014 us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
1649266 USD
CY2014 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
7600000 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
181311000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
7200512 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
182021344 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
70432662 USD
CY2013 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
191852 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
456000 USD
CY2014 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2567027 USD
CY2013 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
4500000 USD
CY2014 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2013Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1148000 USD
CY2013 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
19181530 USD
CY2013Q4 us-gaap Tenant Improvements
TenantImprovements
7344151 USD
CY2014 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
101940 shares
CY2014 us-gaap Real Estate Improvements
RealEstateImprovements
4240293 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
132408000 USD
CY2013 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2950556 USD
CY2014 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-7512262 USD
CY2014 netr Accrual Of Dividends Payable
AccrualOfDividendsPayable
997175 USD
CY2013 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
6382425 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4134400 USD
CY2013 us-gaap Interest Income Operating
InterestIncomeOperating
116602 USD
CY2013Q4 netr Deferred Leasing And Financing Costs
DeferredLeasingAndFinancingCosts
2649273 USD
CY2014 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
22811129 USD
CY2014Q4 us-gaap Land
Land
47681450 USD
CY2013 us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
0 USD
CY2013Q4 us-gaap Other Assets
OtherAssets
5155669 USD
CY2014 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
836000 shares
CY2014Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
228992000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
71536333 USD
CY2014 netr Stock Repurchased Related Party During Period Value
StockRepurchasedRelatedPartyDuringPeriodValue
165018 USD
CY2014Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2700000 USD
CY2014 netr Real Estate Acquisitions
RealEstateAcquisitions
61842810 USD
CY2013 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1325339 shares
CY2014 netr Real Estate In Place Leases
RealEstateInPlaceLeases
2415501 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
47682000 USD
CY2014 netr Fee And Other Income
FeeAndOtherIncome
443829 USD
CY2013 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
3563920 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-674338 USD
CY2014 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
59275783 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
10802449 USD
CY2014 us-gaap Interest Paid
InterestPaid
6477096 USD
CY2014Q4 us-gaap Goodwill
Goodwill
2423000 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
27492272 USD
CY2013 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
197000 USD
CY2014Q4 us-gaap Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
9932000 USD
CY2014 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2014Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
0 USD
CY2014 netr Real Estate Acquisitions Of Land
RealEstateAcquisitionsOfLand
8348830 USD
CY2013Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
128085648 USD
CY2013 netr Accrual Of Dividends Payable
AccrualOfDividendsPayable
1229328 USD
CY2013 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
791618 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1566790 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1355277 USD
CY2014 us-gaap Partners Capital Account Exchanges And Conversions
PartnersCapitalAccountExchangesAndConversions
165018 USD
CY2013 us-gaap Interest Expense Debt
InterestExpenseDebt
5059912 USD
CY2013 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
362000 USD
CY2014 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
5120699 USD
CY2012Q1 netr Sales Price Per Share Of Stock
SalesPricePerShareOfStock
9.5
CY2013 netr Income Loss From Operations
IncomeLossFromOperations
427485 USD
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
481930 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
212212 USD
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5309560 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5636002 USD
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.25
CY2013 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2857010 USD
CY2014Q4 netr Lease Intangibles
LeaseIntangibles
9793814 USD
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
16877377 shares
CY2014 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
5000000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
132000 USD
CY2013 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2014Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
997175 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
198197703 USD
CY2014 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
42279315 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
7187749 USD
CY2014Q4 netr Deferred Leasing And Financing Costs
DeferredLeasingAndFinancingCosts
3081223 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
16097164 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
71721037 USD
CY2013Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
775962 USD
CY2014 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-853601 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5555449 USD
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-539535 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
673000 USD
CY2014 netr Real Estate Buildings And Other
RealEstateBuildingsAndOther
15597537 USD
CY2014 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.471
CY2014Q4 us-gaap Liabilities
Liabilities
149088605 USD
CY2013 us-gaap Partners Capital Account Exchanges And Conversions
PartnersCapitalAccountExchangesAndConversions
333269 USD
CY2014 netr Dividends Cash Declared And Reinvested
DividendsCashDeclaredAndReinvested
-997175 USD
CY2014Q4 us-gaap Notes Payable
NotesPayable
123899298 USD
CY2014 us-gaap Interest Income Operating
InterestIncomeOperating
85806 USD
CY2014 us-gaap Restricted Stock Expense
RestrictedStockExpense
455819 USD
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
24211432 USD
CY2014 us-gaap Operating Expenses
OperatingExpenses
20020492 USD
CY2014 netr Number Of Partnerships That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
3 Counterparty_Investment
CY2013 us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
321000 USD
CY2014Q4 us-gaap Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
198197000 USD
CY2013Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
182723295 USD
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
66000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
9793814 USD
CY2014Q4 us-gaap Long Term Debt
LongTermDebt
123899298 USD
CY2014 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
22287463 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42693829 USD
CY2013 netr Real Estate Acquisitions
RealEstateAcquisitions
10696399 USD
CY2013 us-gaap Interest Paid
InterestPaid
4805628 USD
CY2013Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
141494883 USD
CY2013 us-gaap Revenues
Revenues
19563122 USD
CY2014Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1748000 USD
CY2013 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
1566023 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
257338 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5411279 USD
CY2013Q4 us-gaap Minority Interest
MinorityInterest
15435421 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
33733645 USD
CY2014Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
1333000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12793779 USD
CY2014 netr Preferred Stock Repurchased Related Party During Period Value
PreferredStockRepurchasedRelatedPartyDuringPeriodValue
1649266 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
8920168 USD
CY2013Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4585120 USD
CY2014 netr Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
6049385 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
47681000 USD
CY2013Q4 us-gaap Goodwill
Goodwill
2423000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
220624938 USD
CY2014 us-gaap Stock Issued1
StockIssued1
3314477 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
60733884 USD
CY2014 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
417724 USD
CY2013 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2014 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2000000 USD
CY2014 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
19458581 USD
CY2013Q4 us-gaap Deferred Rent Receivables Net Noncurrent
DeferredRentReceivablesNetNoncurrent
0 USD
CY2014Q4 us-gaap Tenant Improvements
TenantImprovements
13164998 USD
CY2013 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34172 USD
CY2014 netr Real Estate Leasing Costs
RealEstateLeasingCosts
1779430 USD
CY2014Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
170415000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10746536 USD
CY2014 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-735519 USD
CY2014 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
7465658 USD
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.24
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4389185 USD
CY2014Q4 us-gaap Assets
Assets
220624938 USD
CY2013Q4 us-gaap Land
Land
41882217 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85868083 USD
CY2013Q4 netr Lease Intangibles
LeaseIntangibles
5411279 USD
CY2014Q2 dei Entity Public Float
EntityPublicFloat
0 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
76704545 USD
CY2014 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
407261 USD
CY2014Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
26540000 USD
CY2013 netr Fee And Other Income
FeeAndOtherIncome
381592 USD
CY2014 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4803508 USD
CY2013 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
7839389 USD
CY2013 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
34172 USD
CY2013Q4 us-gaap Notes Payable
NotesPayable
89551724 USD
CY2014 dei Entity Registrant Name
EntityRegistrantName
NETREIT, INC.
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Use of Estimates</font><font style='font-family:Times New Roman;font-size:10pt;' >. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that aff</font><font style='font-family:Times New Roman;font-size:10pt;' >ect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant estimates inc</font><font style='font-family:Times New Roman;font-size:10pt;' >lude the allocation of purchase price paid for property acquisitions between land, building and intangible assets acquired including their useful lives; valuation of long-lived assets, and the allowance for doubtful accounts, which is based on an evaluatio</font><font style='font-family:Times New Roman;font-size:10pt;' >n of the tenants&#8217; ability to pay. Actual results may differ from those estimates.</font></p><p style='text-align:justify;line-height:12pt;' ></p></div>
CY2014 netr Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
P30D
CY2014 netr Dividends Cash Paid And Reinvested
DividendsCashPaidAndReinvested
-3563053 USD
CY2014 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3192082 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6049385 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
169000 USD
CY2013 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
531000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3712542 USD
CY2014 netr Real Estate Cost Of Land Sold
RealEstateCostOfLandSold
2726418 USD
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4570999 USD
CY2013 netr Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
4765000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
3819000 USD
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16170865 shares
CY2013 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2000000 USD
CY2014 us-gaap Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
393000 USD
CY2014Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
87171504 USD
CY2013 netr Proceeds From Issuance Of Mandatorily Preferred Stock
ProceedsFromIssuanceOfMandatorilyPreferredStock
0 USD
CY2013 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
242154 USD
CY2014Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
143715876 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5200523 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10819791 USD
CY2013 netr Dividends Cash Paid And Reinvested
DividendsCashPaidAndReinvested
-3623361 USD
CY2014 netr Income Loss From Operations
IncomeLossFromOperations
-118082 USD
CY2014 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
5120699 USD
CY2012Q1 netr Percentage Of Purchase Price Per Share
PercentageOfPurchasePricePerShare
0.95 pure
CY2013 us-gaap Below Market Lease Period Increase Decrease
BelowMarketLeasePeriodIncreaseDecrease
28048 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-71226974 USD
CY2014Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
960328 USD
CY2013Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
22492171 USD
CY2014Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
15606286 USD
CY2013 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-4089094 USD
CY2013 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
104555 USD
CY2014 netr Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
3 Counterparty_Investment
CY2014 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
56859919 USD

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