2020 Q2 Form 10-Q Financial Statement

#000108065720000022 Filed on May 15, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $6.121M $7.029M $7.179M
YoY Change -14.04% -2.09% -12.66%
Cost Of Revenue $2.000M $2.380M $2.760M
YoY Change -20.95% -13.77% 4.15%
Gross Profit $4.120M $4.650M $4.420M
YoY Change -10.24% 5.2% -20.65%
Gross Profit Margin 67.3% 66.15% 61.57%
Selling, General & Admin $1.280M $1.350M $1.760M
YoY Change -9.86% -23.3% 32.33%
% of Gross Profit 31.07% 29.03% 39.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.622M $1.575M $2.210M
YoY Change -7.25% -28.76% -5.51%
% of Gross Profit 39.37% 33.86% 50.0%
Operating Expenses $5.747M $5.307M $6.734M
YoY Change 0.91% -21.2% 83.5%
Operating Profit $3.276M $4.648M $4.416M
YoY Change -28.71% 5.26% -20.79%
Interest Expense $2.273M $2.554M $2.545M
YoY Change -8.77% 0.34% -17.28%
% of Operating Profit 69.4% 54.94% 57.64%
Other Income/Expense, Net -$1.982M -$2.654M -$1.407M
YoY Change -20.8% 88.67% -53.93%
Pretax Income -$1.560M -$850.0K -$880.0K
YoY Change 77.27% -3.41% -21.43%
Income Tax $51.37K $83.63K $81.43K
% Of Pretax Income
Net Earnings -$1.923M -$1.107M -$1.728M
YoY Change 52.65% -35.94% 31.12%
Net Earnings / Revenue -31.41% -15.75% -24.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$215.7K -$97.20K -$151.5K
COMMON SHARES
Basic Shares Outstanding 17.73M shares 17.76M shares 17.71M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.700M $9.000M $12.80M
YoY Change -25.64% -29.69% 109.84%
Cash & Equivalents $8.658M $8.983M $12.84M
Short-Term Investments
Other Short-Term Assets $500.0K $500.0K $200.0K
YoY Change -16.67% 150.0% -85.71%
Inventory
Prepaid Expenses
Receivables $1.400M $900.0K $500.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.60M $10.40M $13.50M
YoY Change -20.9% -22.96% 66.67%
LONG-TERM ASSETS
Property, Plant & Equipment $150.8M $156.2M $165.4M
YoY Change -10.29% -5.56% -26.13%
Goodwill $2.423M $2.423M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.00M $23.80M $36.80M
YoY Change -28.95% -35.33% 157.34%
Total Long-Term Assets $183.6M $185.9M $211.6M
YoY Change -14.33% -12.13% -15.12%
TOTAL ASSETS
Total Short-Term Assets $10.60M $10.40M $13.50M
Total Long-Term Assets $183.6M $185.9M $211.6M
Total Assets $194.2M $196.3M $225.1M
YoY Change -14.71% -12.78% -12.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $4.000M $5.100M
YoY Change -27.54% -21.57% -29.17%
Accrued Expenses $1.400M $1.900M $2.700M
YoY Change -33.33% -29.63% 22.73%
Deferred Revenue
YoY Change
Short-Term Debt $8.300M $7.600M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.70M $13.50M $7.800M
YoY Change 45.54% 73.08% -17.02%
LONG-TERM LIABILITIES
Long-Term Debt $125.5M $127.1M $145.9M
YoY Change -15.26% -12.89% -11.09%
Other Long-Term Liabilities $200.0K $300.0K $400.0K
YoY Change -50.0% -25.0% -69.23%
Total Long-Term Liabilities $125.7M $127.4M $146.3M
YoY Change -15.35% -12.92% -11.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.70M $13.50M $7.800M
Total Long-Term Liabilities $125.7M $127.4M $146.3M
Total Liabilities $140.4M $140.9M $170.3M
YoY Change -19.64% -17.25% -10.6%
SHAREHOLDERS EQUITY
Retained Earnings -$116.1M -$114.1M
YoY Change 0.57%
Common Stock $153.4M $152.0M
YoY Change 1.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.40M $38.07M $54.80M
YoY Change
Total Liabilities & Shareholders Equity $194.2M $196.3M $225.1M
YoY Change -14.71% -12.78% -12.55%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$1.923M -$1.107M -$1.728M
YoY Change 52.65% -35.94% 31.12%
Depreciation, Depletion And Amortization $1.622M $1.575M $2.210M
YoY Change -7.25% -28.76% -5.51%
Cash From Operating Activities $670.0K -$474.1K $1.318M
YoY Change -38.53% -135.97% 79.13%
INVESTING ACTIVITIES
Capital Expenditures -$1.490M -$890.0K -$2.700M
YoY Change -23.98% -67.04% 125.0%
Acquisitions
YoY Change
Other Investing Activities $1.990M $21.01M $10.68M
YoY Change -176.25% 96.72% -261.82%
Cash From Investing Activities $490.0K $20.12M $7.988M
YoY Change -110.7% 151.93% -202.37%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.490M -$21.06M -$6.243M
YoY Change -165.07% 237.33% -228.5%
NET CHANGE
Cash From Operating Activities 670.0K -$474.1K $1.318M
Cash From Investing Activities 490.0K $20.12M $7.988M
Cash From Financing Activities -1.490M -$21.06M -$6.243M
Net Change In Cash -330.0K -$1.409M $3.063M
YoY Change -72.5% -145.99% -238.65%
FREE CASH FLOW
Cash From Operating Activities $670.0K -$474.1K $1.318M
Capital Expenditures -$1.490M -$890.0K -$2.700M
Free Cash Flow $2.160M $415.9K $4.018M
YoY Change -29.18% -89.65% 107.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001080657
CY2020Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2020Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2020Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020Q1 dei Amendment Flag
AmendmentFlag
false
CY2020Q1 dei Document Type
DocumentType
10-Q
CY2020Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2020Q1 dei Document Period End Date
DocumentPeriodEndDate
2020-03-31
CY2020Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2020Q1 dei Entity File Number
EntityFileNumber
000-53673
CY2020Q1 dei Entity Registrant Name
EntityRegistrantName
PRESIDIO PROPERTY TRUST, INC.
CY2020Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
CY2020Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
33-0841255
CY2020Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
4995 Murphy Canyon Road
CY2020Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 300
CY2020Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
San Diego
CY2020Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2020Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
92123
CY2020Q1 dei City Area Code
CityAreaCode
760
CY2020Q1 dei Local Phone Number
LocalPhoneNumber
471-8536
CY2020Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2020Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q1 dei Entity Shell Company
EntityShellCompany
false
CY2020Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17728908 shares
CY2020Q1 us-gaap Land
Land
27242954 USD
CY2019Q4 us-gaap Land
Land
27024601 USD
CY2020Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
140172074 USD
CY2019Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
139267377 USD
CY2020Q1 us-gaap Tenant Improvements
TenantImprovements
14968991 USD
CY2019Q4 us-gaap Tenant Improvements
TenantImprovements
14282502 USD
CY2020Q1 sqft Finite Lived Intangible Assets Net Of Amounts Included In Real Estate Assets Held For Sale
FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale
5321296 USD
CY2019Q4 sqft Finite Lived Intangible Assets Net Of Amounts Included In Real Estate Assets Held For Sale
FiniteLivedIntangibleAssetsNetOfAmountsIncludedInRealEstateAssetsHeldForSale
5321296 USD
CY2020Q1 sqft Real Estate Investment Property And Lease Intangibles Held For Investment At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost
187705315 USD
CY2019Q4 sqft Real Estate Investment Property And Lease Intangibles Held For Investment At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAtCost
185895776 USD
CY2020Q1 sqft Real Estate Investment Property And Lease Intangibles Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization
30603911 USD
CY2019Q4 sqft Real Estate Investment Property And Lease Intangibles Accumulated Depreciation And Amortization
RealEstateInvestmentPropertyAndLeaseIntangiblesAccumulatedDepreciationAndAmortization
29316098 USD
CY2020Q1 sqft Real Estate Investment Property And Lease Intangibles Held For Investment Net
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet
157101404 USD
CY2019Q4 sqft Real Estate Investment Property And Lease Intangibles Held For Investment Net
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentNet
156579678 USD
CY2020Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
22090530 USD
CY2019Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
43626942 USD
CY2020Q1 sqft Real Estate Investment Property And Lease Intangibles Held For Investment And Real Estate Held For Sale Net
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAndRealEstateHeldForSaleNet
179191934 USD
CY2019Q4 sqft Real Estate Investment Property And Lease Intangibles Held For Investment And Real Estate Held For Sale Net
RealEstateInvestmentPropertyAndLeaseIntangiblesHeldForInvestmentAndRealEstateHeldForSaleNet
200206620 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8982679 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10391275 USD
CY2020Q1 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
1745325 USD
CY2019Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
2053927 USD
CY2020Q1 us-gaap Goodwill
Goodwill
2423000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
2423000 USD
CY2020Q1 us-gaap Other Assets
OtherAssets
3999350 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
5709586 USD
CY2020Q1 us-gaap Assets
Assets
196342288 USD
CY2019Q4 us-gaap Assets
Assets
220784408 USD
CY2020Q1 sqft Mortgage Notes Payable Net
MortgageNotesPayableNet
114700145 USD
CY2019Q4 sqft Mortgage Notes Payable Net
MortgageNotesPayableNet
114090245 USD
CY2020Q1 sqft Mortgage Notes Payable Related To Properties Held For Sale Net
MortgageNotesPayableRelatedToPropertiesHeldForSaleNet
12423400 USD
CY2019Q4 sqft Mortgage Notes Payable Related To Properties Held For Sale Net
MortgageNotesPayableRelatedToPropertiesHeldForSaleNet
28302747 USD
CY2020Q1 sqft Mortgage Notes Payable
MortgageNotesPayable
127123545 USD
CY2019Q4 sqft Mortgage Notes Payable
MortgageNotesPayable
142392992 USD
CY2020Q1 us-gaap Notes Payable
NotesPayable
7632556 USD
CY2019Q4 us-gaap Notes Payable
NotesPayable
12238692 USD
CY2020Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
4034753 USD
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
5673815 USD
CY2020Q1 sqft Accrued Real Estate Taxes
AccruedRealEstateTaxes
1751297 USD
CY2019Q4 sqft Accrued Real Estate Taxes
AccruedRealEstateTaxes
2987601 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-113037144 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
38073664 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
121203 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
560188 USD
CY2020Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
267337 USD
CY2019Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
309932 USD
CY2020Q1 us-gaap Liabilities
Liabilities
140930691 USD
CY2019Q4 us-gaap Liabilities
Liabilities
164163220 USD
CY2020Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
152040300 USD
CY2019Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
152040300 USD
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-114144274 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
39180794 USD
CY2020Q1 us-gaap Minority Interest
MinorityInterest
17337933 USD
CY2019Q4 us-gaap Minority Interest
MinorityInterest
17440394 USD
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2763550 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55411597 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
56621188 USD
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
196342288 USD
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
220784408 USD
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
6785685 USD
CY2019Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
6895180 USD
CY2020Q1 sqft Fee And Other Income
FeeAndOtherIncome
243466 USD
CY2019Q1 sqft Fee And Other Income
FeeAndOtherIncome
284084 USD
CY2020Q1 us-gaap Revenues
Revenues
7029151 USD
CY2019Q1 us-gaap Revenues
Revenues
7179264 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2381092 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1351345 USD
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1760703 USD
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1574526 USD
CY2019Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2210081 USD
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
5306963 USD
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
6734334 USD
CY2020Q1 sqft Interest Expense Preferred Stock
InterestExpensePreferredStock
0 USD
CY2019Q1 sqft Interest Expense Preferred Stock
InterestExpensePreferredStock
648451 USD
CY2020Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
1687776 USD
CY2019Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
1896752 USD
CY2020Q1 sqft Interest Expense Notes Payable
InterestExpenseNotesPayable
866070 USD
CY2019Q1 sqft Interest Expense Notes Payable
InterestExpenseNotesPayable
0 USD
CY2020Q1 sqft Nonoperating Interest And Other Income Expense
NonoperatingInterestAndOtherIncomeExpense
-6995 USD
CY2019Q1 sqft Nonoperating Interest And Other Income Expense
NonoperatingInterestAndOtherIncomeExpense
5524 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-9835 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
1214242 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
83631 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81430 USD
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2654307 USD
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1406867 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-932119 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-961937 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
175011 USD
CY2019Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
766455 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-1107130 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-1728392 USD
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17763683 shares
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17734797 shares
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
56621188 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-932119 USD
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
277472 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55411597 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
56141043 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-961937 USD
CY2019Q1 us-gaap Dividends
Dividends
150 USD
CY2019Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
258708 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
52149 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
230883 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
55098982 USD
CY2019Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
47599 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-932119 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-961937 USD
CY2020Q1 sqft Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
1574526 USD
CY2019Q1 sqft Depreciation Amortization And Amortization Of Above Market Rents
DepreciationAmortizationAndAmortizationOfAboveMarketRents
2210081 USD
CY2020Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
157371 USD
CY2019Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
433285 USD
CY2020Q1 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
0 USD
CY2019Q1 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
18139 USD
CY2020Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-9835 USD
CY2019Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1214242 USD
CY2020Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-337802 USD
CY2019Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 USD
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
363183 USD
CY2019Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
227374 USD
CY2020Q1 sqft Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
12671 USD
CY2019Q1 sqft Amortization Of Above Market Leases
AmortizationOfAboveMarketLeases
17455 USD
CY2020Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
42595 USD
CY2020Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
24587128 USD
CY2020Q1 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-52941 USD
CY2019Q1 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-14856 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1947145 USD
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2051150 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2612649 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-459901 USD
CY2020Q1 sqft Change Accrued Real Estate Taxes
ChangeAccruedRealEstateTaxes
-1236304 USD
CY2019Q1 sqft Change Accrued Real Estate Taxes
ChangeAccruedRealEstateTaxes
-941134 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-474075 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1317815 USD
CY2020Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
3573743 USD
CY2019Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2020Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
889673 USD
CY2019Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2696422 USD
CY2020Q1 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
0 USD
CY2019Q1 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
151903 USD
CY2019Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
10836118 USD
CY2019Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-258708 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
20123712 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
7987793 USD
CY2020Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
4347502 USD
CY2019Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
3674303 USD
CY2020Q1 sqft Repayments Of Secured Notes Payable
RepaymentsOfSecuredNotesPayable
19803831 USD
CY2019Q1 sqft Repayments Of Secured Notes Payable
RepaymentsOfSecuredNotesPayable
7682670 USD
CY2020Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5224401 USD
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
CY2019Q1 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
900000 USD
CY2020Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
100031 USD
CY2019Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2020Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-277472 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1075521 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21058233 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6242596 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1408596 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3063012 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10391275 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9776215 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8982679 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12839227 USD
CY2020Q1 sqft Interest Paid Preferred Stock Series B
InterestPaidPreferredStockSeriesB
0 USD
CY2019Q1 sqft Interest Paid Preferred Stock Series B
InterestPaidPreferredStockSeriesB
580650 USD
CY2020Q1 sqft Interest Paid Mortgage Notes
InterestPaidMortgageNotes
1674483 USD
CY2019Q1 sqft Interest Paid Mortgage Notes
InterestPaidMortgageNotes
1727008 USD
CY2020Q1 sqft Interest Paid Notes
InterestPaidNotes
247805 USD
CY2019Q1 sqft Interest Paid Notes
InterestPaidNotes
0 USD
CY2020Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
14608 USD
CY2019Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
CY2020Q1 sqft Number Of Partnerships That Purchase And Lease Back Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeaseBackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
5 counterparty
CY2020Q1 us-gaap Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
The Company or one of its affiliates operates 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.
CY2020Q1 sqft Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
2 counterparty
CY2020Q1 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.
CY2020Q1 sqft Percentage Of Distributed Taxable Income To Qualify As Reit
PercentageOfDistributedTaxableIncomeToQualifyAsReit
0.90
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;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',sans-serif;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>
CY2020Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
6100000 USD
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
5700000 USD
CY2020Q1 us-gaap Restricted Cash
RestrictedCash
2900000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
4700000 USD
CY2020Q1 sqft Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
3 property
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q1 sqft Real Estate Investment Property And Lease Intangibles Net
RealEstateInvestmentPropertyAndLeaseIntangiblesNet
179192000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5321296 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4301196 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1020100 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7631488 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5526477 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2105011 USD
CY2020Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
267337 USD
CY2019Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
310000 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
397753 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
372484 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
202479 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
17663 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
17663 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
12058 USD
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1020100 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
83631 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81430 USD
CY2020Q1 us-gaap Other Assets
OtherAssets
3999350 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
5709586 USD
CY2020Q1 sqft Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
128002720 USD
CY2019Q4 sqft Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
143459048 USD
CY2020Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
879175 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
1066056 USD
CY2020Q1 sqft Mortgage Notes Payable
MortgageNotesPayable
127123545 USD
CY2019Q4 sqft Mortgage Notes Payable
MortgageNotesPayable
142392992 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
20215786 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
23422230 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
18055459 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3611091 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
10365425 USD
CY2020Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
52332729 USD
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
128002720 USD
CY2020Q1 us-gaap Accretion Expense
AccretionExpense
338000 USD
CY2020Q1 us-gaap Accretion Expense
AccretionExpense
338000 USD
CY2020Q1 sqft Maximum Individual Common Stock Ownership
MaximumIndividualCommonStockOwnership
0.098
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0 USD
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1100000 USD
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
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
CY2020Q1 sqft Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
P30D
CY2020Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
17400000 USD
CY2020Q1 sqft Shares Issued Under Dividend Reinvestment Plan
SharesIssuedUnderDividendReinvestmentPlan
1834147 shares
CY2020Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
0 shares
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
157000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
433000 USD
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4648059 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4415714 USD
CY2020Q1 sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
1351345 USD
CY2019Q1 sqft General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
1760703 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1574526 USD
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2210081 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
2553846 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
2545203 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6995 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5524 USD
CY2020Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-9835 USD
CY2019Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1214242 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-932119 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-961937 USD
CY2020Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
3573743 USD
CY2019Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2020Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
889673 USD
CY2019Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2696422 USD
CY2020Q1 sqft Real Estate Acquisitions
RealEstateAcquisitions
4463416 USD
CY2019Q1 sqft Real Estate Acquisitions
RealEstateAcquisitions
2696422 USD

Files In Submission

Name View Source Status
0001080657-20-000022-index-headers.html Edgar Link pending
0001080657-20-000022-index.html Edgar Link pending
0001080657-20-000022.txt Edgar Link pending
0001080657-20-000022-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
sqft-20200331.htm Edgar Link pending
sqft-20200331.xsd Edgar Link pending
sqft-20200331_cal.xml Edgar Link unprocessable
sqft-20200331_def.xml Edgar Link unprocessable
sqft-20200331_htm.xml Edgar Link completed
sqft-20200331_lab.xml Edgar Link unprocessable
sqft-20200331_pre.xml Edgar Link unprocessable
sqft-20201qx10qxexx311.htm Edgar Link pending
sqft-20201qx10qxexx312.htm Edgar Link pending
sqft-20201qx10qxexx313.htm Edgar Link pending
sqft-20201qx10qxexx321.htm Edgar Link pending