$TIPT
TIPTREE INC.

2013 Q1 Form 10-Q Financial Statement

#000119312513222704 Filed on May 15, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $22.11M $3.975M
YoY Change 456.1% 13.57%
Cost Of Revenue $9.500M
YoY Change
Gross Profit $12.60M
YoY Change
Gross Profit Margin 57.0%
Selling, General & Admin $1.533M $1.172M
YoY Change 30.8% -21.87%
% of Gross Profit 12.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $900.0K $1.000M
YoY Change -10.0% 11.11%
% of Gross Profit 7.14%
Operating Expenses $22.54M $2.617M
YoY Change 761.22% 9.04%
Operating Profit -$9.938M
YoY Change
Interest Expense $3.835M $300.0K
YoY Change 1178.33% -113.64%
% of Operating Profit
Other Income/Expense, Net $8.703M
YoY Change
Pretax Income $6.310M -$500.0K
YoY Change -1362.0% -54.55%
Income Tax $1.299M $0.00
% Of Pretax Income 20.59%
Net Earnings $1.318M $294.0K
YoY Change 348.3% -126.73%
Net Earnings / Revenue 5.96% 7.4%
Basic Earnings Per Share $0.13 $0.03
Diluted Earnings Per Share $0.13 $0.03
COMMON SHARES
Basic Shares Outstanding 10.25M shares 10.18M shares
Diluted Shares Outstanding 10.25M shares 10.19M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.80M $49.90M
YoY Change -44.29% 501.2%
Cash & Equivalents $61.26M $49.87M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.200M
Other Receivables $0.00
Total Short-Term Assets $29.00M $49.90M
YoY Change -41.88% 473.56%
LONG-TERM ASSETS
Property, Plant & Equipment $141.0M $121.5M
YoY Change 16.05% 15.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.493M $8.200M
YoY Change -69.6% -81.49%
Other Assets
YoY Change
Total Long-Term Assets $6.851B $142.3M
YoY Change 4714.79% -9.88%
TOTAL ASSETS
Total Short-Term Assets $29.00M $49.90M
Total Long-Term Assets $6.851B $142.3M
Total Assets $6.880B $192.2M
YoY Change 3479.84% 15.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M $1.500M
YoY Change 6.67% -25.0%
Accrued Expenses $100.0K $100.0K
YoY Change 0.0% -66.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.100M $1.600M
YoY Change 93.75% -30.43%
LONG-TERM LIABILITIES
Long-Term Debt $112.9M $95.70M
YoY Change 17.97% 17.42%
Other Long-Term Liabilities $700.0K $600.0K
YoY Change 16.67% -79.31%
Total Long-Term Liabilities $113.6M $96.30M
YoY Change 17.96% 14.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.100M $1.600M
Total Long-Term Liabilities $113.6M $96.30M
Total Liabilities $116.6M $97.90M
YoY Change 19.14% 12.92%
SHAREHOLDERS EQUITY
Retained Earnings $2.338M
YoY Change
Common Stock $84.16M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $91.72M $94.30M
YoY Change
Total Liabilities & Shareholders Equity $208.4M $192.2M
YoY Change 8.41% 15.37%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $1.318M $294.0K
YoY Change 348.3% -126.73%
Depreciation, Depletion And Amortization $900.0K $1.000M
YoY Change -10.0% 11.11%
Cash From Operating Activities $10.86M -$1.446M
YoY Change -851.11% -160.25%
INVESTING ACTIVITIES
Capital Expenditures $2.000K $0.00
YoY Change -100.0%
Acquisitions $2.114M
YoY Change
Other Investing Activities -$381.6M -$500.0K
YoY Change 76220.0% -138.46%
Cash From Investing Activities -$381.6M -$546.0K
YoY Change 69796.7% -149.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.000K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -411.0K -447.0K
YoY Change -8.05% 123.5%
NET CHANGE
Cash From Operating Activities $10.86M -1.446M
Cash From Investing Activities -$381.6M -546.0K
Cash From Financing Activities -411.0K -447.0K
Net Change In Cash -$371.2M -2.439M
YoY Change 15118.78% -173.91%
FREE CASH FLOW
Cash From Operating Activities $10.86M -$1.446M
Capital Expenditures $2.000K $0.00
Free Cash Flow $10.86M -$1.446M
YoY Change -850.97% -155.62%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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DebtInstrumentCarryingAmount
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CY2013Q1 cvtr Number Of Buildings
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CY2013Q1 cvtr Business Acquisition Purchase Price Allocation Valuation Allowance Amount
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CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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CY2011Q3 cvtr Bridge Loan Used To Finance Greenfield Acquisition
BridgeLoanUsedToFinanceGreenfieldAcquisition
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cvtr Amount Of Mortgage Bridge Loan
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cvtr Initial Term Of Lease
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cvtr Number Of Memory Care Facilities Acquired
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cvtr Rent Payment
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cvtr Rental Increase
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46423 shares
CY2012 cvtr Number Of Lenders
NumberOfLenders
3 Lenders
CY2012 cvtr Stated Libor Rate
StatedLiborRate
0.0021 pure
CY2013Q1 dei Document Fiscal Period Focus
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Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001393726
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Trading Symbol
TradingSymbol
CVTR
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
Care Investment Trust Inc.
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q1 us-gaap Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisable
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable
2018-09-30
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IncreaseDecreaseInOtherOperatingLiabilities
-17000
CY2013Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-TOP: 18px; 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 loan investment 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>
CY2013Q1 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;margin-bottom:0px; text-indent:4%"> <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>
CY2013Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
458000
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18212000
CY2013Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
312000
CY2013Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
37000
CY2013Q1 us-gaap Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
17258000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.75
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10241502 shares
CY2013Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2013Q1 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
1224000
CY2013Q1 us-gaap Mortgage Loan On Real Estate Final Maturity Date
MortgageLoanOnRealEstateFinalMaturityDate
2016-11-01
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
7.43
CY2013Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
1393000
CY2013Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
-81000
CY2013Q1 us-gaap Interest Paid
InterestPaid
1547000
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
69000
CY2013Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4700000
CY2013Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2000
CY2013Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1094000
CY2013Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-18671000
CY2013Q1 us-gaap Straight Line Rent
StraightLineRent
312000
CY2013Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
69000
CY2013Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-300000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-148000
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2000
CY2013Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
3841000
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10241502 shares
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-411000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
7.26
CY2013Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
38000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
25346 shares
CY2013Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
-148000
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
3111000
CY2013Q1 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
2000
CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1533000
CY2013Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
4519000
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
4728 shares
CY2013Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
37000
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2220 shares
CY2013Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-270000
CY2013Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-83000
CY2013Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000
CY2013Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2013Q1 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>
CY2013Q1 us-gaap Interest Income Operating
InterestIncomeOperating
12000
CY2013Q1 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
CY2013Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
272000
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48000
CY2013Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
13000
CY2013Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
371000
CY2013Q1 cvtr Business Acquisitions Revenue
BusinessAcquisitionsRevenue
400000
CY2013Q1 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-148000
CY2013Q1 cvtr Number Of Loans
NumberOfLoans
2
CY2013Q1 cvtr Additional Base Rent Paid Over Period
AdditionalBaseRentPaidOverPeriod
P24M
CY2013Q1 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
118000
CY2013Q1 cvtr Amortization Schedule
AmortizationSchedule
P25Y
CY2013Q1 cvtr Additional Base Rent Accrued
AdditionalBaseRentAccrued
Until July 2011
CY2013Q1 cvtr Additional Base Rent
AdditionalBaseRent
300000
CY2013Q1 cvtr Fixed Escalations Percentage
FixedEscalationsPercentage
0.030 pure
CY2013Q1 cvtr Duration For Which Loans Will Be In Non Accrual Status
DurationForWhichLoansWillBeInNonAccrualStatus
P90D
CY2013Q1 cvtr Fixed Escalations Period
FixedEscalationsPeriod
Through June 2023
CY2013Q1 cvtr Monthly Base Services Fee
MonthlyBaseServicesFee
One-twelfth of 0.5% of the Company's Equity
CY2013Q1 cvtr Incentive Fees Payable
IncentiveFeesPayable
0
CY2013Q1 cvtr Initial Annual Base Rent
InitialAnnualBaseRent
9100000
CY2013Q1 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
1651000
CY2013Q1 cvtr Net Operating Losses Carryforward Maximum Period
NetOperatingLossesCarryforwardMaximumPeriod
P20Y
CY2013Q1 cvtr Period Of Year For Which Cash Interest Greater Than Effective Interest
PeriodOfYearForWhichCashInterestGreaterThanEffectiveInterest
P2Y
CY2013Q1 cvtr Services Agreement Expiration Date
ServicesAgreementExpirationDate
2013-12-31
CY2013Q1 cvtr Services Agreement Amendment Date
ServicesAgreementAmendmentDate
2011-11-09
CY2013Q1 cvtr Period Of Year For Which Cash Interest Less Than Effective Interest
PeriodOfYearForWhichCashInterestLessThanEffectiveInterest
P3Y
CY2013Q1 cvtr Period For Non Qualification As Real Estate Investment Trust
PeriodForNonQualificationAsRealEstateInvestmentTrust
P4Y
CY2013Q1 cvtr Percentage Of Adjusted Funds From Operation
PercentageOfAdjustedFundsFromOperation
0.15 pure
CY2013Q1 cvtr Percentage Of Incentive Fees Paid In Shares
PercentageOfIncentiveFeesPaidInShares
0.20 pure
CY2013Q1 cvtr Mortgage Loan On Real Estate Maturity Period
MortgageLoanOnRealEstateMaturityPeriod
P5Y
CY2013Q1 cvtr Service Fees
ServiceFees
100000
CY2013Q1 cvtr Stock Based Compensation To Directors For Services
StockBasedCompensationToDirectorsForServices
15000
CY2013Q1 cvtr Reimbursable Income
ReimbursableIncome
366000
CY2013Q1 cvtr Stated Libor Rate
StatedLiborRate
0.0020 pure
CY2013Q1 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
366000
CY2013Q1 cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
7000
CY2013Q1 cvtr Business Acquisitions Net Income Net Loss
BusinessAcquisitionsNetIncomeNetLoss
-100000
CY2013Q1 cvtr Stock Based Compensation To Employees
StockBasedCompensationToEmployees
14000
CY2013Q1 cvtr Noncash Interest From Investments In Loans
NoncashInterestFromInvestmentsInLoans
37000
CY2013Q1 cvtr Proposed Contribution Transaction Expenses
ProposedContributionTransactionExpenses
300000
CY2013Q1 cvtr Stock Based Payments
StockBasedPayments
15000
CY2013Q1 cvtr Capital Contribution From Noncontrolling Interest
CapitalContributionFromNoncontrollingInterest
5227000
CY2013Q1 cvtr Shares Underlying Restricted Stock Units Grants
SharesUnderlyingRestrictedStockUnitsGrants
shares
CY2013Q1 cvtr Unvested And Unforfeited Restricted Stock Units
UnvestedAndUnforfeitedRestrictedStockUnits
75130 shares
CY2013Q1 cvtr Accretion Of Note Discount
AccretionOfNoteDiscount
-5000
CY2012Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1310000
CY2012Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-18000
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-546000
CY2012Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
182000
CY2012Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
227000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10175438 shares
CY2012Q1 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
80000
CY2012Q1 us-gaap Interest Paid
InterestPaid
1559000
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
69000
CY2012Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4600000
CY2012Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
982000
CY2012Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2439000
CY2012Q1 us-gaap Straight Line Rent
StraightLineRent
399000
CY2012Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
69000
CY2012Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
300000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
294000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2012Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
3442000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10186222 shares
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-447000
CY2012Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
64000
CY2012Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
294000
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
2617000
CY2012Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1172000
CY2012Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
3975000
CY2012Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
420000
CY2012Q1 us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
37000
CY2012Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
CY2012Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-743000
CY2012Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-81000
CY2012Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52000
CY2012Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2012Q1 us-gaap Interest Income Operating
InterestIncomeOperating
21000
CY2012Q1 us-gaap Income Loss Attributable To Noncontrolling Interest
IncomeLossAttributableToNoncontrollingInterest
CY2012Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
86000
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1446000
CY2012Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
67000
CY2012Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
383000
CY2012Q1 cvtr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
294000
CY2012Q1 cvtr Base Services Fees To Related Party
BaseServicesFeesToRelatedParty
112000
CY2012Q1 cvtr Accrued Expenses For Financing Costs
AccruedExpensesForFinancingCosts
157000
CY2012Q1 cvtr Incentive Fees Payable
IncentiveFeesPayable
0
CY2012Q1 cvtr Interest Expense Including Amortization Of Deferred Financing Costs
InterestExpenseIncludingAmortizationOfDeferredFinancingCosts
1586000
CY2012Q1 cvtr Treasury Note Maturity Date
TreasuryNoteMaturityDate
2021-11-15
CY2012Q1 cvtr Service Fees
ServiceFees
100000
CY2012Q1 cvtr Reimbursable Income
ReimbursableIncome
351000
CY2012Q1 cvtr Reimbursed Property Expenses
ReimbursedPropertyExpenses
351000
CY2012Q1 cvtr Reimbursement For Office Related Service Expenses
ReimbursementForOfficeRelatedServiceExpenses
4000
CY2012Q1 cvtr Noncash Interest From Investments In Loans
NoncashInterestFromInvestmentsInLoans
18000
CY2012Q1 cvtr Proposed Contribution Transaction Expenses
ProposedContributionTransactionExpenses
0
CY2012Q1 cvtr Stock Based Payments
StockBasedPayments
360000
CY2012Q1 cvtr Cash Deposit For Derivative
CashDepositForDerivative
632000
CY2012Q1 cvtr Shares Underlying Restricted Stock Units Grants
SharesUnderlyingRestrictedStockUnitsGrants
10784 shares

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