$TIPT
TIPTREE INC.

2012 Q4 Form 10-Q Financial Statement

#000119312512459616 Filed on November 08, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $23.90M $45.09M $3.517M
YoY Change 497.5% 1182.12% -4.95%
Cost Of Revenue $10.40M $12.20M
YoY Change
Gross Profit $13.50M $32.90M
YoY Change
Gross Profit Margin 56.49% 72.96%
Selling, General & Admin -$41.70M $1.148M $1.042M
YoY Change -1490.0% 10.17% -87.14%
% of Gross Profit -308.89% 3.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $700.0K $600.0K $900.0K
YoY Change -30.0% -33.33% -10.0%
% of Gross Profit 5.19% 1.82%
Operating Expenses -$46.50M $27.57M $2.587M
YoY Change -1262.5% 965.52% -71.57%
Operating Profit $60.00M $5.335M
YoY Change
Interest Expense $3.348M -$400.0K
YoY Change -937.0% -75.0%
% of Operating Profit 62.76%
Other Income/Expense, Net
YoY Change
Pretax Income $9.600M $17.53M $500.0K
YoY Change -40.0% 3405.4% -107.14%
Income Tax -$500.0K $735.0K $0.00
% Of Pretax Income -5.21% 4.19% 0.0%
Net Earnings $2.200M $3.089M $535.0K
YoY Change -86.25% 477.38% -107.64%
Net Earnings / Revenue 9.21% 6.85% 15.21%
Basic Earnings Per Share $0.30 $0.05
Diluted Earnings Per Share $213.6K $0.30 $0.05
COMMON SHARES
Basic Shares Outstanding 10.22M shares 10.22M shares 10.16M shares
Diluted Shares Outstanding 10.24M shares 10.19M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.60M $46.60M $8.900M
YoY Change 69.41% 423.6% 17.11%
Cash & Equivalents $88.56M $106.3M $8.907M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $88.60M $46.60M $8.900M
YoY Change 69.41% 423.6% 15.58%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $119.7M $124.2M
YoY Change -2.86% -3.62% 16.62%
Goodwill $3.088M
YoY Change
Intangibles $162.4M
YoY Change
Long-Term Investments $8.388M $2.491M $35.40M
YoY Change 236.73% -92.96% -30.59%
Other Assets $26.10M
YoY Change
Total Long-Term Assets $5.445B $5.487B $169.7M
YoY Change 3736.92% 3133.47% 2.79%
TOTAL ASSETS
Total Short-Term Assets $88.60M $46.60M $8.900M
Total Long-Term Assets $5.445B $5.487B $169.7M
Total Assets $5.534B $5.534B $178.6M
YoY Change 2749.3% 2998.43% 3.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.700M $1.700M
YoY Change 0.0% -34.62%
Accrued Expenses $100.0K $300.0K
YoY Change -66.67% -87.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.800M $2.000M
YoY Change -10.0% -60.0%
LONG-TERM LIABILITIES
Long-Term Debt $195.6M $95.60M $96.50M
YoY Change 103.54% -0.93% 17.68%
Other Long-Term Liabilities $4.803B $600.0K $1.000M
YoY Change 800333.33% -40.0% -67.74%
Total Long-Term Liabilities $4.998B $96.20M $97.50M
YoY Change 5068.77% -1.33% 14.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.800M $2.000M
Total Long-Term Liabilities $4.998B $96.20M $97.50M
Total Liabilities $4.998B $97.95M $99.60M
YoY Change 4866.63% -1.66% 10.54%
SHAREHOLDERS EQUITY
Retained Earnings $11.89M $5.743M
YoY Change 19.47%
Common Stock $84.16M $84.06M
YoY Change 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $108.4M $89.80M $79.10M
YoY Change
Total Liabilities & Shareholders Equity $5.534B $187.7M $178.6M
YoY Change 2749.3% 5.12% 3.36%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $2.200M $3.089M $535.0K
YoY Change -86.25% 477.38% -107.64%
Depreciation, Depletion And Amortization $700.0K $600.0K $900.0K
YoY Change -30.0% -33.33% -10.0%
Cash From Operating Activities -$5.400M $43.00M $1.400M
YoY Change -268.75% 2971.43% -126.92%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$100.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$9.400M -$135.1M -$20.10M
YoY Change -122.43% 572.14% -20200.0%
Cash From Investing Activities -$9.400M -$135.0M -$20.10M
YoY Change -122.38% 571.64% -20200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.800M 105.5M 13.70M
YoY Change 55.56% 670.07% -111.21%
NET CHANGE
Cash From Operating Activities -5.400M 43.00M 1.400M
Cash From Investing Activities -9.400M -135.0M -20.10M
Cash From Financing Activities -2.800M 105.5M 13.70M
Net Change In Cash -17.60M 13.50M -5.000M
YoY Change -140.55% -370.0% -96.07%
FREE CASH FLOW
Cash From Operating Activities -$5.400M $43.00M $1.400M
Capital Expenditures $0.00 -$100.0K
Free Cash Flow -$5.400M $1.500M
YoY Change -268.75% -128.85%

Facts In Submission

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cvtr Percentage Of Revenue
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dei Document Fiscal Period Focus
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Q3
dei Document Fiscal Year Focus
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2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
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0001393726
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Trading Symbol
TradingSymbol
CVTR
dei Entity Registrant Name
EntityRegistrantName
Care Investment Trust Inc.
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2018-09-30
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1351000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Concentrations of Credit Risk</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Real estate triple-net leases and financial instruments, primarily consisting of cash, mortgage loan investments and interest receivable, potentially subject us to concentrations of credit risk. We may place our cash investments in excess of insured amounts with high-quality financial institutions. We perform ongoing analysis of credit risk concentrations in our real estate and loan investment portfolios by evaluating exposure to various markets, underlying property types, investment structure, term, sponsors, tenant mix and other credit metrics. Our triple-net leases rely on our underlying tenants. The collateral securing our investment in our remaining loan is real estate properties located in the U.S.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In addition, we are required to disclose fair value information about financial instruments, whether or not recognized in the financial statements, for which it is practical to estimate that value. In cases where quoted market prices are not available, fair value is based upon the application of discount rates to estimated future cash flows based on market yields or other appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts we could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.</font></p> </div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassification</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Certain prior period amounts have been reclassified to conform to the current period presentation.</font></p> </div>
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
841000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
286000
us-gaap Investment Income Interest
InvestmentIncomeInterest
545000
us-gaap Income Taxes Paid
IncomeTaxesPaid
227000
us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
112000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10206020 shares
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-86000
us-gaap Mortgage Loan On Real Estate Final Maturity Date
MortgageLoanOnRealEstateFinalMaturityDate
2016-11-01
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4177000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
243000
us-gaap Interest Paid
InterestPaid
4729000
us-gaap Share Based Compensation
ShareBasedCompensation
158000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
72000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2968000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5658000
us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
86000
us-gaap Straight Line Rent
StraightLineRent
1122000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
113000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Net Income Loss
NetIncomeLoss
-34000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.405
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
72000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
10327000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10206020 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5347000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
698000
us-gaap Operating Expenses
OperatingExpenses
7623000
us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
29000
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
15680000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3219000
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
11952000
cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
363000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-479000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
243000
us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
shares
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
155000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4177000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the consolidated financial statements and the accompanying notes. Significant estimates are made for the valuation of real estate and related intangibles, valuation of financial instruments, impairment assessments and fair value assessments with respect to purchase price allocations. Actual results could differ from those estimates.</font></p> </div>
us-gaap Interest Income Operating
InterestIncomeOperating
58000
us-gaap Derivative Instruments Gain Loss Recognized In Income Net
DerivativeInstrumentsGainLossRecognizedInIncomeNet
86000
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
229000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-597000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
147000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
16080000
cvtr Unvested Restricted Stock Units
UnvestedRestrictedStockUnits
69384 shares
cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-70000
cvtr Additional Base Rent Paid Over Period
AdditionalBaseRentPaidOverPeriod
P24M
cvtr Percentage Of Revenue
PercentageOfRevenue
0.95 pure
cvtr Period Of Year For Which Cash Interest Less Than Effective Interest
PeriodOfYearForWhichCashInterestLessThanEffectiveInterest
P3Y
CY2011Q3 us-gaap Operating Expenses
OperatingExpenses
2587000
cvtr Accrued Expenses For Financing Costs
AccruedExpensesForFinancingCosts
62000
cvtr Amortization Schedule
AmortizationSchedule
P25Y
cvtr Allocation Of Excess Of Distributions Over Earnings Relating To Participating Securities
AllocationOfExcessOfDistributionsOverEarningsRelatingToParticipatingSecurities
36000
cvtr Additional Base Rent Accrued
AdditionalBaseRentAccrued
until July 2011
cvtr Additional Base Rent
AdditionalBaseRent
300000
cvtr Fixed Escalations Percentage
FixedEscalationsPercentage
0.030 pure
cvtr Duration For Which Loans Will Be In Non Accrual Status
DurationForWhichLoansWillBeInNonAccrualStatus
P90D
cvtr Fixed Escalations Period
FixedEscalationsPeriod
through June 2023
cvtr Issuance Of Stock For Related Party Incentive Fee
IssuanceOfStockForRelatedPartyIncentiveFee
345000
cvtr Monthly Base Services Fee
MonthlyBaseServicesFee
One-twelfth of 0.5% of the Company's Equity
cvtr Dividend Distribution To Unvested Share Based Payment Awards
DividendDistributionToUnvestedShareBasedPaymentAwards
36000
cvtr Initial Annual Base Rent
InitialAnnualBaseRent
9100000
cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
4750000
cvtr Net Operating Losses Carryforward Maximum Period
NetOperatingLossesCarryforwardMaximumPeriod
P20Y
cvtr Original Maturity Period Of Investments
OriginalMaturityPeriodOfInvestments
Three months or less
cvtr Period Of Year For Which Cash Interest Greater Than Effective Interest
PeriodOfYearForWhichCashInterestGreaterThanEffectiveInterest
P2Y
cvtr Services Agreement Expiration Date
ServicesAgreementExpirationDate
2013-12-31
cvtr Services Agreement Amendment Date
ServicesAgreementAmendmentDate
2011-11-09
cvtr Stock Based Payments To Related Parties
StockBasedPaymentsToRelatedParties
390000
cvtr Period For Non Qualification As Real Estate Investment Trust
PeriodForNonQualificationAsRealEstateInvestmentTrust
P4Y
cvtr Stock Based Compensation To Employees Shares
StockBasedCompensationToEmployeesShares
shares
cvtr Stock Issued To Related Parties
StockIssuedToRelatedParties
0
cvtr Percentage Of Adjusted Funds From Operation
PercentageOfAdjustedFundsFromOperation
0.15 pure
cvtr Percentage Of Incentive Fees Paid In Shares
PercentageOfIncentiveFeesPaidInShares
0.20 pure
cvtr Weighted Average
WeightedAverage
0.0720 pure
cvtr Treasury Note Maturity Period
TreasuryNoteMaturityPeriod
P10Y
cvtr Mortgage Loan On Real Estate Maturity Period
MortgageLoanOnRealEstateMaturityPeriod
P5Y
cvtr Service Fees
ServiceFees
400000
cvtr Stock Based Compensation To Directors For Services
StockBasedCompensationToDirectorsForServices
45000
cvtr Reimbursable Income
ReimbursableIncome
1080000
cvtr Stated Libor Rate
StatedLiborRate
0.0021 pure
cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
1073000
cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
17000
CY2012Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2012-04-03
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2012-04-17
CY2012Q2 cvtr Dividends Paid Date
DividendsPaidDate
May 1, 2012
CY2012Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2012-05-10
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2012-05-24
CY2012Q2 cvtr Dividends Paid Date
DividendsPaidDate
June 7, 2012
CY2012Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2012-08-09
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2012-08-23
CY2012Q3 cvtr Dividends Paid Date
DividendsPaidDate
September 6, 2012
CY2011 cvtr Original Maturity Period Of Investments
OriginalMaturityPeriodOfInvestments
Three months or less
CY2011 cvtr Stated Libor Rate
StatedLiborRate
0.0030 pure
CY2008 cvtr Number Of States Consisting Senior Living Properties
NumberOfStatesConsistingSeniorLivingProperties
4 State
CY2008 cvtr Senior Living Properties
SeniorLivingProperties
14 Home
CY2012Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
400000
CY2012Q1 cvtr Treasury Note Maturity Date
TreasuryNoteMaturityDate
2021-11-15
CY2011Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
146000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10159098 shares
CY2011Q3 us-gaap Share Based Compensation
ShareBasedCompensation
11000
CY2011Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
883000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
535000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2011Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2011Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
3012000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10187605 shares
CY2011Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1042000
CY2011Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
3517000
CY2011Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1009000
CY2011Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2011Q3 us-gaap Interest Income Operating
InterestIncomeOperating
7000
CY2011Q3 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
535000
CY2011Q3 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
100000
CY2011Q3 cvtr Common Shares Pertaining To Op Units Issued To Cambridge
CommonSharesPertainingToOpUnitsIssuedToCambridge
28507 shares
CY2011Q3 cvtr Incentive Fee To Related Party
IncentiveFeeToRelatedParty
237000
CY2011Q3 cvtr Incentive Fees Payable
IncentiveFeesPayable
200000
CY2011Q3 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
1411000
CY2011Q3 cvtr Percentage Of Revenue
PercentageOfRevenue
0.96 pure
CY2011Q3 cvtr Shares Underlying Cambridge Warrant
SharesUnderlyingCambridgeWarrant
28507 shares
CY2011Q3 cvtr Service Fees
ServiceFees
100000
CY2011Q3 cvtr Reimbursable Income
ReimbursableIncome
359000
CY2011Q3 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
325000
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
182000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10217648 shares
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
53000
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
992000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
-88000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2012Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.135
CY2012Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
3442000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10217648 shares
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
2621000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1148000
CY2012Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
3999000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
81000
CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2012Q3 us-gaap Interest Income Operating
InterestIncomeOperating
18000
CY2012Q3 cvtr Unvested Restricted Stock Units
UnvestedRestrictedStockUnits
69384 shares
CY2012Q3 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-97000
CY2012Q3 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
118000
CY2012Q3 cvtr Allocation Of Excess Of Distributions Over Earnings Relating To Participating Securities
AllocationOfExcessOfDistributionsOverEarningsRelatingToParticipatingSecurities
9000
CY2012Q3 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
1565000
CY2012Q3 cvtr Percentage Of Revenue
PercentageOfRevenue
0.95 pure
CY2012Q3 cvtr Service Fees
ServiceFees
100000
CY2012Q3 cvtr Reimbursable Income
ReimbursableIncome
375000
CY2012Q3 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
363000
CY2012Q3 cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
9000

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