2019 Q1 Form 10-K Financial Statement
#000156459019009076 Filed on March 25, 2019
Income Statement
| Concept | 2019 Q1 | 2017 Q4 | 2017 |
|---|---|---|---|
| Revenue | $7.179M | $33.37M | |
| YoY Change | -12.66% | 2.84% | |
| Cost Of Revenue | $2.760M | $10.72M | |
| YoY Change | 4.15% | 5.72% | |
| Gross Profit | $4.420M | $22.65M | |
| YoY Change | -20.65% | 1.48% | |
| Gross Profit Margin | 61.57% | 67.87% | |
| Selling, General & Admin | $1.760M | $5.200M | |
| YoY Change | 32.33% | 2.56% | |
| % of Gross Profit | 39.82% | 22.96% | |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $2.210M | $9.710M | |
| YoY Change | -5.51% | -5.32% | |
| % of Gross Profit | 50.0% | 42.87% | |
| Operating Expenses | $6.734M | $25.63M | |
| YoY Change | 83.5% | 0.7% | |
| Operating Profit | $4.416M | $22.65M | |
| YoY Change | -20.79% | 1.5% | |
| Interest Expense | $2.545M | $12.95M | |
| YoY Change | -17.28% | -4.27% | |
| % of Operating Profit | 57.64% | 57.19% | |
| Other Income/Expense, Net | -$1.407M | -$10.58M | |
| YoY Change | -53.93% | -15.79% | |
| Pretax Income | -$880.0K | -$2.630M | |
| YoY Change | -21.43% | -50.93% | |
| Income Tax | $81.43K | $208.7K | |
| % Of Pretax Income | |||
| Net Earnings | -$1.728M | -$3.484M | |
| YoY Change | 31.12% | -40.05% | |
| Net Earnings / Revenue | -24.07% | -10.44% | |
| Basic Earnings Per Share | -$0.20 | ||
| Diluted Earnings Per Share | -$151.5K | -$0.20 | |
| COMMON SHARES | |||
| Basic Shares Outstanding | 17.71M | 17.59M | |
| Diluted Shares Outstanding | 17.59M |
Balance Sheet
| Concept | 2019 Q1 | 2017 Q4 | 2017 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $12.80M | $8.300M | |
| YoY Change | 109.84% | 167.74% | |
| Cash & Equivalents | $12.84M | $8.311M | $8.300M |
| Short-Term Investments | |||
| Other Short-Term Assets | $200.0K | $1.400M | |
| YoY Change | -85.71% | 133.33% | |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $500.0K | $1.100M | |
| Other Receivables | $0.00 | $0.00 | |
| Total Short-Term Assets | $13.50M | $10.80M | |
| YoY Change | 66.67% | 151.16% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $165.4M | $218.3M | |
| YoY Change | -26.13% | -6.99% | |
| Goodwill | $2.423M | ||
| YoY Change | 0.0% | ||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $36.80M | $14.20M | |
| YoY Change | 157.34% | 129.03% | |
| Total Long-Term Assets | $211.6M | $243.7M | |
| YoY Change | -15.12% | -3.94% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $13.50M | $10.80M | |
| Total Long-Term Assets | $211.6M | $243.7M | |
| Total Assets | $225.1M | $254.5M | $254.5M |
| YoY Change | -12.54% | -1.36% | -1.36% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $5.100M | $7.100M | |
| YoY Change | -29.17% | 16.39% | |
| Accrued Expenses | $2.700M | $3.000M | |
| YoY Change | 22.73% | 30.43% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $7.800M | $10.10M | |
| YoY Change | -17.02% | 5.21% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $145.9M | $160.3M | |
| YoY Change | -11.09% | 0.88% | |
| Other Long-Term Liabilities | $400.0K | $1.400M | |
| YoY Change | -69.23% | -17.65% | |
| Total Long-Term Liabilities | $146.3M | $161.7M | |
| YoY Change | -11.55% | 0.68% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $7.800M | $10.10M | |
| Total Long-Term Liabilities | $146.3M | $161.7M | |
| Total Liabilities | $170.3M | $202.5M | $186.3M |
| YoY Change | -10.6% | 0.1% | 1.91% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$113.7M | ||
| YoY Change | 6.59% | ||
| Common Stock | $151.1M | ||
| YoY Change | 1.06% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $54.80M | $37.65M | $68.20M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $225.1M | $254.5M | $254.5M |
| YoY Change | -12.55% | -1.36% | -1.36% |
Cashflow Statement
| Concept | 2019 Q1 | 2017 Q4 | 2017 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$1.728M | -$3.484M | |
| YoY Change | 31.12% | -40.05% | |
| Depreciation, Depletion And Amortization | $2.210M | $9.710M | |
| YoY Change | -5.51% | -5.32% | |
| Cash From Operating Activities | $1.318M | $5.586M | |
| YoY Change | 79.13% | 50.07% | |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$2.700M | -$3.620M | |
| YoY Change | 125.0% | -12.77% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $10.68M | $2.530M | |
| YoY Change | -261.82% | -120.5% | |
| Cash From Investing Activities | $7.988M | -$1.090M | |
| YoY Change | -202.37% | -93.39% | |
| 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 | -$6.243M | -3.570M | |
| YoY Change | -228.5% | -138.55% | |
| NET CHANGE | |||
| Cash From Operating Activities | $1.318M | 5.586M | |
| Cash From Investing Activities | $7.988M | -1.090M | |
| Cash From Financing Activities | -$6.243M | -3.570M | |
| Net Change In Cash | $3.063M | 922.8K | |
| YoY Change | -238.65% | -115.38% | |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $1.318M | $5.586M | |
| Capital Expenditures | -$2.700M | -$3.620M | |
| Free Cash Flow | $4.018M | $9.206M | |
| YoY Change | 107.57% | 16.94% |
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|
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Revenue Recognition and Tenant Receivables<font style="font-weight:normal;font-style:normal;">. We recognize minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is reasonably assured and record amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, we determine whether the tenant improvements, for accounting purposes, are owned by the tenant or by us. When we are the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: </font></p> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the lease stipulates how a tenant improvement allowance may be spent; </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the amount of a tenant improvement allowance is in excess of market rates; </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the tenant or landlord retains legal title to the improvements at the end of the lease term; </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the tenant improvements are unique to the tenant or general-purpose in nature; and </p></td></tr></table></div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-family:'Times New Roman';font-size:15pt;line-height:11pt;">•</p></td> <td valign="top"> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the tenant improvements are expected to have any residual value at the end of the lease. </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We record property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We make estimates of the collectibility of our tenant receivables related to base rents, including deferred rent receivable, expense reimbursements and other revenue or income. We specifically analyze accounts receivable, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectibility of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, we will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="text-align:justify;margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective January 1, 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”) using the modified retrospective approach, which requires a cumulative effect adjustment as of the date of our adoption. Under the modified retrospective approach, an entity may also elect to apply this standard to either (i) all contracts as of January 1, 2018 or (ii) only to contracts that were not completed as of January 1, 2018. A completed contract is a contract for which all (or substantially all) of the revenue was recognized under legacy GAAP that was in effect before the date of initial application. We elected to apply this standard only to contracts that were not completed as of January 1, 2018.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Based on our evaluation of contracts within the scope of ASU No. 2014-09, revenue that is impacted by ASU No. 2014-09 includes revenue generated by sales of real estate, other operating income and tenant reimbursements for substantial services earned at our properties. The recognition of such revenue will occur when the services are provided and the performance obligations are satisfied. The Company’s adoption of ASU No. 2014-09 did not have a significant impact on its consolidated financial statements.   </p> | |
| CY2018 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications.<font style="font-weight:normal;font-style:normal;">   Certain reclassifications have been made to the prior year’s consolidated financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of consolidated operations or equity.</font></p> | |
| CY2017Q4 | us-gaap |
Number Of Real Estate Properties
NumberOfRealEstateProperties
|
1 | |
| CY2018 | sqft |
Number Of Limited Partnerships In Which Company Is Sole General Partner
NumberOfLimitedPartnershipsInWhichCompanyIsSoleGeneralPartner
|
2 | |
| CY2018 | us-gaap |
Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
|
The following partnership activity occurred during the periods covered by these consolidated financial statements:The Company is the sole General Partner in two consolidated limited partnerships (NetREIT Palm Self-Storage LP and NetREIT Casa Grande LP), all with ownership in real estate income producing properties. The Company refers to these entities collectively, as the “NetREIT Partnerships”.The Company is a limited partner in four partnerships and one limited liability corporation that purchase and leaseback model homes from developers (“Dubose Model Homes Investors #202, LP”, “Dubose Model Homes Investors #203, LP, “Dubose Model Homes Investors #204, LP, and “NetREIT Dubose Model Home REIT, LP”). The Company refers to these entities collectively, as the “Model Home Entities”. The Company has determined that the entities described above, where it owns less than 100%, should be included in the Company’s consolidated financial statements as the Company directs their activities and holds a non-controlling interest in these limited partnerships through the Company. | |
| CY2018 | sqft |
Number Of Partnerships That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfPartnershipsThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
|
4 | |
| CY2018 | sqft |
Number Of Limited Liability That Purchase And Leaseback Model Homes From Developers In Which Company Is Limited Partner
NumberOfLimitedLiabilityThatPurchaseAndLeasebackModelHomesFromDevelopersInWhichCompanyIsLimitedPartner
|
1 | |
| CY2018Q4 | sqft |
Mortgage Notes Payable
MortgageNotesPayable
|
9900000 | |
| CY2018 | sqft |
Mortgage Notes Payable Maturing Year
MortgageNotesPayableMaturingYear
|
2019 | |
| CY2018 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | |
| CY2018 | us-gaap |
Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
|
826000 | |
| CY2017 | us-gaap |
Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
|
207000 | |
| CY2018 | sqft |
Amortization Of Value Of In Place Leases
AmortizationOfValueOfInPlaceLeases
|
P10Y | |
| CY2018 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
569000 | |
| CY2017 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
929000 | |
| CY2018 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
415000 | |
| CY2017 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
590000 | |
| CY2018 | us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
0 | |
| CY2017 | us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
0 | |
| CY2018 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| CY2017 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
| CY2018 | sqft |
Depreciation Expese And Amortization Expense Related To Intangibles And Amortization Of Leasing Commissions
DepreciationExpeseAndAmortizationExpenseRelatedToIntangiblesAndAmortizationOfLeasingCommissions
|
9100000 | |
| CY2017 | sqft |
Depreciation Expese And Amortization Expense Related To Intangibles And Amortization Of Leasing Commissions
DepreciationExpeseAndAmortizationExpenseRelatedToIntangiblesAndAmortizationOfLeasingCommissions
|
9700000 | |
| CY2018Q4 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
9100000 | |
| CY2018Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | |
| CY2018 | sqft |
Loss On Federal Deposit Insurance Corporation
LossOnFederalDepositInsuranceCorporation
|
0 | |
| CY2018Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
60300 | |
| CY2017Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
26000 | |
| CY2018Q4 | us-gaap |
Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
|
2097000 | |
| CY2017Q4 | us-gaap |
Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
|
1892000 | |
| CY2018 | us-gaap |
Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
|
510000 | |
| CY2017 | us-gaap |
Amortization Of Deferred Leasing Fees
AmortizationOfDeferredLeasingFees
|
550000 | |
| CY2018Q4 | sqft |
Unamortized Deferred Stock Costs
UnamortizedDeferredStockCosts
|
1427000 | |
| CY2017Q4 | sqft |
Unamortized Deferred Stock Costs
UnamortizedDeferredStockCosts
|
1683000 | |
| CY2018 | 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 (the “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 | |
| CY2018 | sqft |
Percentage Of Distributed Taxable Income To Qualify As Reit
PercentageOfDistributedTaxableIncomeToQualifyAsReit
|
0.90 | |
| CY2018 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.19 | |
| CY2017 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.20 | |
| CY2018 | sqft |
Antidilutive Securities Included In Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesIncludedInComputationOfEarningsPerShareAmount
|
733944 | |
| CY2017 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
656758 | |
| CY2018 | sqft |
Disposal Group Including Discontinued Operation Of Real Estate Assets Net
DisposalGroupIncludingDiscontinuedOperationOfRealEstateAssetsNet
|
34900000 | |
| CY2018Q4 | sqft |
Real Estate Investment Property And Lease Intangibles Net
RealEstateInvestmentPropertyAndLeaseIntangiblesNet
|
211108000 | |
| CY2017Q4 | sqft |
Real Estate Investment Property And Lease Intangibles Net
RealEstateInvestmentPropertyAndLeaseIntangiblesNet
|
234534000 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
9026435 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
6164961 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2861474 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
9096794 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
5182342 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
3914452 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
|
876667 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
|
687974 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
|
488320 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
|
360116 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFive
|
173785 | |
| CY2018Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFive
|
274612 | |
| CY2018Q4 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
293832 | |
| CY2017Q4 | us-gaap |
Other Intangible Assets Net
OtherIntangibleAssetsNet
|
374733 | |
| CY2018Q4 | sqft |
Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
|
151140916 | |
| CY2017Q4 | sqft |
Notes Payable Including Unamortized Cost
NotesPayableIncludingUnamortizedCost
|
162005679 | |
| CY2018Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
1426740 | |
| CY2017Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
1682942 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
13402299 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
26826664 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
21937819 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
10055657 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
10928130 | |
| CY2018Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
67990347 | |
| CY2018Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
151140916 | |
| sqft |
Preferred Stock Extend Redemption Date
PreferredStockExtendRedemptionDate
|
2019-08-01 | ||
| sqft |
Preferred Stock Redemption Extension Fee
PreferredStockRedemptionExtensionFee
|
153500 | ||
| CY2018 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
0 | |
| CY2017 | sqft |
Cash Dividends Paid Net Of Reinvested Stock Dividends
CashDividendsPaidNetOfReinvestedStockDividends
|
3621000 | |
| CY2017 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.40 | |
| CY2012Q1 | sqft |
Registered Shares Of Common Stock Pursuant To Dividend Reinvestment Plan
RegisteredSharesOfCommonStockPursuantToDividendReinvestmentPlan
|
3000000 | |
| CY2012Q1 | sqft |
Percentage Of Purchase Price Per Share
PercentageOfPurchasePricePerShare
|
0.95 | |
| CY2012Q1 | sqft |
Sales Price Per Share Of Stock
SalesPricePerShareOfStock
|
10.00 | |
| CY2012Q1 | sqft |
Payment Of Sales Commission Or Dealer Manager Fee
PaymentOfSalesCommissionOrDealerManagerFee
|
0 | |
| CY2018 | sqft |
Notice Period For Amendments To Dividend Reinvestment Plan
NoticePeriodForAmendmentsToDividendReinvestmentPlan
|
P30D | |
| CY2018 | sqft |
Dividend Reinvestments
DividendReinvestments
|
0 | |
| CY2018 | us-gaap |
Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
|
17424399 | |
| CY2018 | us-gaap |
Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
|
1834147 | |
| CY2018 | us-gaap |
Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
|
2058000 | |
| CY2017 | us-gaap |
Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
|
1390000 | |
| CY2018 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
461000 | |
| CY2017 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
559000 | |
| CY2017 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
22650678 | |
| CY2018 | sqft |
General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
|
4532703 | |
| CY2017 | sqft |
General And Administrative Expense Including Income Tax Expense Benefit
GeneralAndAdministrativeExpenseIncludingIncomeTaxExpenseBenefit
|
5200592 | |
| CY2018 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
9101605 | |
| CY2018 | us-gaap |
Interest Expense
InterestExpense
|
13041016 | |
| CY2017 | us-gaap |
Interest Expense
InterestExpense
|
12954079 | |
| CY2018 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
55909 | |
| CY2017 | us-gaap |
Interest Income Operating
InterestIncomeOperating
|
30287 | |
| CY2018Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
220186759 | |
| CY2017Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
240358882 | |
| CY2018 | sqft |
Real Estate Acquisitions
RealEstateAcquisitions
|
20686198 | |
| CY2017 | sqft |
Real Estate Acquisitions
RealEstateAcquisitions
|
21182469 | |
| CY2018Q4 | srt |
Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
|
151142000 | |
| CY2018Q4 | us-gaap |
Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
|
37917000 | |
| CY2018Q4 | us-gaap |
Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
|
202335000 | |
| CY2018Q4 | us-gaap |
Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
|
240252000 | |
| CY2018Q4 | us-gaap |
Sec Schedule Iii Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Buildings And Improvements
SECScheduleIIIRealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionBuildingsAndImprovements
|
32369000 | |
| CY2018Q4 | us-gaap |
Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
|
37951000 | |
| CY2018Q4 | us-gaap |
Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
|
186389000 | |
| CY2018Q4 | us-gaap |
Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
|
256709000 | |
| CY2018Q4 | us-gaap |
Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
|
43567809 | |
| CY2018Q4 | us-gaap |
Mortgage Loans On Real Estate Writedown Or Reserve Amount1
MortgageLoansOnRealEstateWritedownOrReserveAmount1
|
2033000 | |
| CY2018Q4 | us-gaap |
Sec Schedule Iii Real Estate Investment Property Net
SECScheduleIIIRealEstateInvestmentPropertyNet
|
211108000 | |
| CY2017Q4 | sqft |
Real Estate Investment Property And Lease Intangibles At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesAtCost
|
274546199 | |
| CY2016Q4 | sqft |
Real Estate Investment Property And Lease Intangibles At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesAtCost
|
276833694 | |
| CY2018 | us-gaap |
Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
|
17326915 | |
| CY2017 | us-gaap |
Real Estate Acquisitions Through Foreclosures
RealEstateAcquisitionsThroughForeclosures
|
17560745 | |
| CY2018 | us-gaap |
Real Estate Improvements
RealEstateImprovements
|
3359283 | |
| CY2017 | us-gaap |
Real Estate Improvements
RealEstateImprovements
|
3616140 | |
| CY2018 | us-gaap |
Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
|
40023572 | |
| CY2017 | us-gaap |
Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
|
23464380 | |
| CY2018Q4 | sqft |
Real Estate Investment Property And Lease Intangibles At Cost
RealEstateInvestmentPropertyAndLeaseIntangiblesAtCost
|
254675874 | |
| CY2017Q4 | us-gaap |
Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
|
40012255 | |
| CY2016Q4 | us-gaap |
Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
|
36311485 | |
| CY2018 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
8452012 | |
| CY2017 | us-gaap |
Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
|
9186190 | |
| CY2018 | us-gaap |
Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
|
4896458 | |
| CY2017 | us-gaap |
Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
|
5485420 |
