2019 Q4 Form 10-Q Financial Statement

#000108065719000009 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $7.340M $7.001M $8.283M
YoY Change -4.3% -15.47% 4.01%
Cost Of Revenue $2.590M $2.530M $2.720M
YoY Change -9.44% -6.99%
Gross Profit $4.750M $4.470M $5.560M
YoY Change -1.45% -19.6%
Gross Profit Margin 64.71% 63.85% 67.13%
Selling, General & Admin $640.0K $1.450M $1.380M
YoY Change 30.61% 5.07%
% of Gross Profit 13.47% 32.44% 24.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.670M $1.755M $2.269M
YoY Change -25.78% -22.64% -5.44%
% of Gross Profit 35.16% 39.27% 40.81%
Operating Expenses $2.290M $5.740M $6.905M
YoY Change -15.5% -16.87% 5.97%
Operating Profit $2.460M $4.468M $5.564M
YoY Change 16.59% -19.71% 7.64%
Interest Expense -$2.660M $2.831M $3.281M
YoY Change -23.56% -13.72% 2.82%
% of Operating Profit -108.13% 63.36% 58.97%
Other Income/Expense, Net $1.693M -$2.976M
YoY Change -156.88% -1.57%
Pretax Income -$140.0K $3.290M -$1.530M
YoY Change -101.4% -315.03%
Income Tax $0.00 $338.7K $69.68K
% Of Pretax Income 10.3%
Net Earnings -$160.0K $2.537M -$1.883M
YoY Change -101.69% -234.73%
Net Earnings / Revenue -2.18% 36.24% -22.73%
Basic Earnings Per Share $0.29 -$0.11
Diluted Earnings Per Share -$14.01K $0.27 -$0.11
COMMON SHARES
Basic Shares Outstanding 17.69M shares 8.852M 17.67M shares
Diluted Shares Outstanding 9.275M 17.67M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.40M $11.10M $11.80M
YoY Change 6.12% -5.93%
Cash & Equivalents $10.39M $11.07M $11.84M
Short-Term Investments
Other Short-Term Assets $600.0K $600.0K $500.0K
YoY Change 50.0% 20.0%
Inventory
Prepaid Expenses
Receivables $1.300M $500.0K $400.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.30M $12.20M $12.70M
YoY Change -5.38% -3.94%
LONG-TERM ASSETS
Property, Plant & Equipment $157.4M $153.3M $213.7M
YoY Change -0.82% -28.26%
Goodwill $2.423M $2.423M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.30M $42.60M $22.30M
YoY Change -16.09% 91.03%
Total Long-Term Assets $208.5M $203.7M $246.9M
YoY Change -5.26% -17.49%
TOTAL ASSETS
Total Short-Term Assets $12.30M $12.20M $12.70M
Total Long-Term Assets $208.5M $203.7M $246.9M
Total Assets $220.8M $215.9M $259.6M
YoY Change -5.26% -16.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.700M $5.700M $7.500M
YoY Change -1.72% -24.0%
Accrued Expenses $3.500M $2.900M $2.500M
YoY Change 12.9% 16.0%
Deferred Revenue
YoY Change
Short-Term Debt $12.20M $11.60M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.40M $20.20M $10.00M
YoY Change 114.0% 102.0%
LONG-TERM LIABILITIES
Long-Term Debt $142.4M $140.0M $170.8M
YoY Change -4.88% -18.03%
Other Long-Term Liabilities $300.0K $400.0K $1.200M
YoY Change -40.0% -66.67%
Total Long-Term Liabilities $142.7M $140.4M $172.0M
YoY Change -4.99% -18.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.40M $20.20M $10.00M
Total Long-Term Liabilities $142.7M $140.4M $172.0M
Total Liabilities $164.2M $160.5M $212.6M
YoY Change -7.2% -24.5% 4.21%
SHAREHOLDERS EQUITY
Retained Earnings -$113.0M -$112.9M -$119.8M
YoY Change 1.52% -5.74% 6.03%
Common Stock $152.1M $151.6M $151.1M
YoY Change 0.36% 0.31% 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $39.18M $38.90M $31.55M
YoY Change
Total Liabilities & Shareholders Equity $220.8M $215.9M $259.6M
YoY Change -5.26% -16.84% 1.2%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$160.0K $2.537M -$1.883M
YoY Change -101.69% -234.73%
Depreciation, Depletion And Amortization $1.670M $1.755M $2.269M
YoY Change -25.78% -22.64% -5.44%
Cash From Operating Activities $1.410M -$30.00K $1.540M
YoY Change -177.05% -101.95%
INVESTING ACTIVITIES
Capital Expenditures -$1.210M -$520.0K -$330.0K
YoY Change -0.82% 57.58%
Acquisitions
YoY Change
Other Investing Activities -$4.060M $14.36M -$1.070M
YoY Change -111.17% -1442.06%
Cash From Investing Activities -$5.270M $13.84M -$1.410M
YoY Change -115.0% -1081.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.180M -14.39M -740.0K
YoY Change -108.99% 1844.59%
NET CHANGE
Cash From Operating Activities 1.410M -30.00K 1.540M
Cash From Investing Activities -5.270M 13.84M -1.410M
Cash From Financing Activities 3.180M -14.39M -740.0K
Net Change In Cash -680.0K -580.0K -610.0K
YoY Change -67.15% -4.92%
FREE CASH FLOW
Cash From Operating Activities $1.410M -$30.00K $1.540M
Capital Expenditures -$1.210M -$520.0K -$330.0K
Free Cash Flow $2.620M $490.0K $1.870M
YoY Change -529.51% -73.8%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
53066405 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
2953589 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
564932 USD
CY2019Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
95502 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
52042168 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-1151061 USD
CY2018Q1 sqft Contributed Capital Less Distributions Of Noncontrolling Interests
ContributedCapitalLessDistributionsOfNoncontrollingInterests
1017739 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
51908846 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
-2496998 USD
CY2018Q2 sqft Contributed Capital Less Distributions Of Noncontrolling Interests
ContributedCapitalLessDistributionsOfNoncontrollingInterests
159770 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
49571618 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-1598787 USD
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
973084 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
46999747 USD
us-gaap Profit Loss
ProfitLoss
914977 USD
us-gaap Profit Loss
ProfitLoss
-5246847 USD
sqft Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
5714446 USD
sqft Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
6873828 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
809127 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
429273 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3530525 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9776215 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
19088 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
26661 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
6243819 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
795521 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
532951 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-48793 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
592598 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
414896 USD
sqft Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
42796 USD
sqft Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
48938 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
140777 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
172223 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-26590 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-259600 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1709386 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1003579 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-244791 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-40994 USD
sqft Change Accrued Real Estate Taxes
ChangeAccruedRealEstateTaxes
-817366 USD
sqft Change Accrued Real Estate Taxes
ChangeAccruedRealEstateTaxes
-558596 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2377868 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2256345 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
6116035 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
15225886 USD
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
5182033 USD
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2141551 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
661401 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
582823 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
29211836 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
8404012 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
17252367 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9546248 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
10667286 USD
us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
21679160 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
20723326 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
11063157 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
11623164 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
16900000 USD
us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-628462 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
204425 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
215206 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2158467 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18335011 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10820428 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1295224 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8310575 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11071439 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11841100 USD
sqft Interest Paid Preferred Stock Series B
InterestPaidPreferredStockSeriesB
1859672 USD
sqft Interest Paid Preferred Stock Series B
InterestPaidPreferredStockSeriesB
3259317 USD
sqft Interest Paid Mortgage Notes
InterestPaidMortgageNotes
4792830 USD
sqft Interest Paid Mortgage Notes
InterestPaidMortgageNotes
5749421 USD
sqft Number Of Partnerships That Purchase And Lease Back Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeaseBackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
5 counterparty
us-gaap Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
The Company or one of its affiliates operate the following partnerships during the periods covered by these condensed consolidated financial statements:•The Company is the sole general partner and a limited partner in two limited partnerships (NetREIT Palm Self-Storage LP and NetREIT Casa Grande LP), all with ownership interests in entities that own real estate income producing properties.•The Company is the general and/ or limited partner in five limited partnerships that purchase Model Homes and lease them back to homebuilders (Dubose Model Home Investors #202, LP, Dubose Model Home Investors #203, LP, Dubose Model Home Investors #204, LP, Dubose Model Home Investors #205, LP and NetREIT Dubose Model Home REIT, LP). The Company refers to these entities collectively as the “Model Home Partnerships”.The Company has determined that the limited partnerships in which it owns less than 100% should be included in the Company’s consolidated financial statements as the Company directs their activities and has control of such limited partnerships.
sqft Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
2 counterparty
us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
We have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code (“Code”), for federal income tax purposes. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership.
sqft Percentage Of Distributed Taxable Income To Qualify As Reit
PercentageOfDistributedTaxableIncomeToQualifyAsReit
0.90
us-gaap Use Of Estimates
UseOfEstimates
<span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Use of Estimates. </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 include the allocation of purchase price paid for property acquisitions among 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 evaluation of the tenants’ ability to pay. Actual results may differ from those estimates.</span>
CY2019Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
7400000 USD
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
5800000 USD
CY2019Q3 us-gaap Restricted Cash
RestrictedCash
3700000 USD
CY2018Q4 us-gaap Restricted Cash
RestrictedCash
4000000.0 USD
CY2019Q3 sqft Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
4 property
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Reclassifications. </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Certain reclassifications have been made to the previously presented consolidated financial statements and condensed consolidated financial statements to conform to the current period presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity.</span>
CY2019Q3 sqft Operating Lease Liability Gross
OperatingLeaseLiabilityGross
661000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
661000 USD
CY2019Q3 sqft Real Estate Investment Property And Lease Intangibles Net
RealEstateInvestmentPropertyAndLeaseIntangiblesNet
195563000 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7631489 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5359517 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2271972 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
9026435 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6164961 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2861474 USD
CY2019Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
355150 USD
CY2018Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
495927 USD
CY2019Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
233157 USD
CY2018Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
293832 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
142408 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
687974 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
510215 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
360116 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
173785 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
397474 USD
CY2019Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2271972 USD
CY2019Q3 us-gaap Other Assets
OtherAssets
4874471 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
7646207 USD
CY2019Q3 sqft Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
141084875 USD
CY2018Q4 sqft Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
151140916 USD
CY2019Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1109867 USD
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1426740 USD
CY2019Q3 sqft Mortgage Notes Payable
MortgageNotesPayable
139975008 USD
CY2018Q4 sqft Mortgage Notes Payable
MortgageNotesPayable
149714176 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2755146 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
28432118 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
16630718 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
14341881 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1783291 USD
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
77141721 USD
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
141084875 USD
us-gaap Accretion Expense
AccretionExpense
49000 USD
CY2019Q3 us-gaap Accretion Expense
AccretionExpense
49000 USD
sqft Preferred Stock Redemption Extension Fee
PreferredStockRedemptionExtensionFee
307000 USD
sqft Maximum Individual Common Stock Ownership
MaximumIndividualCommonStockOwnership
0.098
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2200000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0 USD
us-gaap Dividends
Dividends
0 USD
CY2012Q1 sqft Registered Shares Of Common Stock Pursuant To Dividend Reinvestment Plan
RegisteredSharesOfCommonStockPursuantToDividendReinvestmentPlan
3000000 shares
CY2012Q1 sqft Percentage Of Purchase Price Per Share
PercentageOfPurchasePricePerShare
0.95
CY2012Q1 sqft Sales Price Per Share Of Stock
SalesPricePerShareOfStock
9.50
CY2012Q1 sqft Payment Of Sales Commission Or Dealer Manager Fee
PaymentOfSalesCommissionOrDealerManagerFee
0 USD
sqft Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
P30D
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
17400000 USD
CY2019Q3 sqft Shares Issued Under Dividend Reinvestment Plan
SharesIssuedUnderDividendReinvestmentPlan
1834147 shares
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
0 shares
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
193000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
172000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
809000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
516000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4467806 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
5564307 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
13478505 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
16641424 USD
CY2019Q3 sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
1451873 USD
CY2018Q3 sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
1384974 USD
sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
4632244 USD
sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
4041453 USD
CY2019Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1755253 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5714446 USD
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2268896 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6873828 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
2830858 USD
CY2018Q3 us-gaap Interest Expense
InterestExpense
3281088 USD
us-gaap Interest Expense
InterestExpense
7867932 USD
us-gaap Interest Expense
InterestExpense
9505244 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
9294 USD
CY2018Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8466 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
19227 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2624 USD
CY2019Q3 us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
0 USD
CY2018Q3 us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
0 USD
us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
0 USD
us-gaap Noninterest Expense Offering Cost
NoninterestExpenseOfferingCost
1507599 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
338713 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69683 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
611952 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
225341 USD
CY2019Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2018Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
532951 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
532951 USD
CY2019Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
4853186 USD
CY2018Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
366032 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
6243819 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
795521 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
2953589 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
-1598787 USD
us-gaap Profit Loss
ProfitLoss
914977 USD
us-gaap Profit Loss
ProfitLoss
-5246847 USD
CY2019Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
199932156 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
220186759 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11071439 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9776215 USD
CY2019Q3 us-gaap Assets
Assets
215905343 USD
CY2018Q4 us-gaap Assets
Assets
233050040 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
6116035 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
15225886 USD
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
5182033 USD
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2141551 USD
sqft Real Estate Acquisitions
RealEstateAcquisitions
11298068 USD
sqft Real Estate Acquisitions
RealEstateAcquisitions
17367437 USD

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sqft-20190930_htm.xml Edgar Link completed
sqft-20190930_lab.xml Edgar Link unprocessable
sqft-20190930_pre.xml Edgar Link unprocessable