2018 Q3 Form 10-Q Financial Statement
#000119312518315712 Filed on November 01, 2018
Income Statement
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| Revenue | $37.90M | $33.64M |
| YoY Change | 12.66% | 24.13% |
| Cost Of Revenue | $9.490M | $9.020M |
| YoY Change | 5.21% | 23.73% |
| Gross Profit | $28.41M | $24.62M |
| YoY Change | 15.39% | 24.22% |
| Gross Profit Margin | 74.96% | 73.19% |
| Selling, General & Admin | $5.050M | $5.040M |
| YoY Change | 0.2% | -9.52% |
| % of Gross Profit | 17.78% | 20.47% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $10.10M | $9.600M |
| YoY Change | 5.21% | 7.87% |
| % of Gross Profit | 35.55% | 38.99% |
| Operating Expenses | $15.10M | $14.64M |
| YoY Change | 3.14% | 1.46% |
| Operating Profit | $13.31M | $9.980M |
| YoY Change | 33.37% | 85.16% |
| Interest Expense | $4.406M | $4.514M |
| YoY Change | -2.39% | -238.04% |
| % of Operating Profit | 33.1% | 45.23% |
| Other Income/Expense, Net | -$3.065M | $10.95M |
| YoY Change | -127.99% | |
| Pretax Income | $10.12M | $20.93M |
| YoY Change | -51.65% | 581.76% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | $10.12M | $20.93M |
| YoY Change | -51.65% | 581.86% |
| Net Earnings / Revenue | 26.71% | 62.23% |
| Basic Earnings Per Share | $0.17 | |
| Diluted Earnings Per Share | $0.17 | $396.4K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 58.37M shares | |
| Diluted Shares Outstanding | 58.37M shares |
Balance Sheet
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $3.600M | $109.1M |
| YoY Change | -96.7% | 900.92% |
| Cash & Equivalents | $3.587M | $109.1M |
| Short-Term Investments | ||
| Other Short-Term Assets | ||
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $3.600M | $109.1M |
| YoY Change | -96.7% | 900.92% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.635B | $1.390B |
| YoY Change | 17.69% | 16.8% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $7.000M | $10.30M |
| YoY Change | -32.04% | 186.11% |
| Total Long-Term Assets | $1.728B | $1.427B |
| YoY Change | 21.08% | 17.1% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $3.600M | $109.1M |
| Total Long-Term Assets | $1.728B | $1.427B |
| Total Assets | $1.731B | $1.536B |
| YoY Change | 12.71% | 24.94% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $22.70M | $22.40M |
| YoY Change | 1.34% | -26.8% |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $48.20M | $44.90M |
| YoY Change | 7.35% | -7.61% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $482.7M | $462.0M |
| YoY Change | 4.48% | 20.25% |
| Other Long-Term Liabilities | $33.40M | $31.00M |
| YoY Change | 7.74% | 715.79% |
| Total Long-Term Liabilities | $516.1M | $493.0M |
| YoY Change | 4.69% | 27.06% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $48.20M | $44.90M |
| Total Long-Term Liabilities | $516.1M | $493.0M |
| Total Liabilities | $564.2M | $537.8M |
| YoY Change | 4.91% | 23.18% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $5.856M | |
| YoY Change | ||
| Common Stock | $1.162B | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.167B | $998.2M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.731B | $1.536B |
| YoY Change | 12.71% | 24.94% |
Cashflow Statement
| Concept | 2018 Q3 | 2017 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $10.12M | $20.93M |
| YoY Change | -51.65% | 581.86% |
| Depreciation, Depletion And Amortization | $10.10M | $9.600M |
| YoY Change | 5.21% | 7.87% |
| Cash From Operating Activities | $21.40M | $20.10M |
| YoY Change | 6.47% | 24.84% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$8.900M | -$6.300M |
| YoY Change | 41.27% | -47.06% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$68.30M | -$12.80M |
| YoY Change | 433.59% | -58.44% |
| Cash From Investing Activities | -$77.10M | -$19.20M |
| YoY Change | 301.56% | -55.14% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 30.70M | 103.4M |
| YoY Change | -70.31% | 515.48% |
| NET CHANGE | ||
| Cash From Operating Activities | 21.40M | 20.10M |
| Cash From Investing Activities | -77.10M | -19.20M |
| Cash From Financing Activities | 30.70M | 103.4M |
| Net Change In Cash | -25.00M | 104.3M |
| YoY Change | -123.97% | -1153.54% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $21.40M | $20.10M |
| Capital Expenditures | -$8.900M | -$6.300M |
| Free Cash Flow | $30.30M | $26.40M |
| YoY Change | 14.77% | -5.71% |
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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:95.83%;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;"></font> </p> <p style="margin:0pt;line-height:95.83%;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;"></font> </p> <p style="margin:0pt;line-height:95.83%;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;">Use of Derivative Financial Instruments.</font><font style="display: inline;font-size:10pt;"> ASC 815, </font><font style="display: inline;font-style:italic;font-size:10pt;">Derivatives and Hedging</font><font style="display: inline;font-size:10pt;"> (Note 8),</font><font style="display: inline;font-size:10pt;"> provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why the Company uses derivative instruments, (b) how the Company accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect the Company's financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company's objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;"></font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">The Company records all derivatives on the accompanying consolidated balance sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting.</font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;"></font> </p> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">As of </font><font style="display: inline;color:#000000;font-size:10pt;">September 30, 2018</font><font style="display: inline;font-size:10pt;">, the Company had </font><font style="display: inline;font-size:10pt;">three</font><font style="display: inline;font-size:10pt;"> interest rate caps to hedge the variable cash flows associated with its existing </font><font style="display: inline;font-size:10pt;">$150.0</font><font style="display: inline;font-size:10pt;"> million of variable-rate term loans. The caps have a notional value of </font><font style="display: inline;font-size:10pt;">$150.0</font><font style="display: inline;font-size:10pt;"> million and </font><font style="display: inline;color:#000000;font-size:10pt;">will effectively cap the annual interest rate at </font><font style="display: inline;color:#000000;font-size:10pt;">4.0%</font><font style="display: inline;color:#000000;font-size:10pt;"> plus </font><font style="display: inline;color:#000000;font-size:10pt;">1.30%</font><font style="display: inline;color:#000000;font-size:10pt;"> to </font><font style="display: inline;color:#000000;font-size:10pt;">1.85%</font><font style="display: inline;color:#000000;font-size:10pt;">, depending on leverage, with respect to </font><font style="display: inline;color:#000000;font-size:10pt;">$50.0</font><font style="display: inline;color:#000000;font-size:10pt;"> million for the period from </font><font style="display: inline;color:#000000;font-size:10pt;">December 1, 2014</font><font style="display: inline;font-size:10pt;"> (effective date) to </font><font style="display: inline;font-size:10pt;">May 1, 2021</font><font style="display: inline;color:#000000;font-size:10pt;">, </font><font style="display: inline;color:#000000;font-size:10pt;">$50.0</font><font style="display: inline;color:#000000;font-size:10pt;"> million for the period from </font><font style="display: inline;color:#000000;font-size:10pt;">September 1, 2015</font><font style="display: inline;color:#000000;font-size:10pt;"> </font><font style="display: inline;font-size:10pt;">(effective date)</font><font style="display: inline;color:#000000;font-size:10pt;"> to </font><font style="display: inline;color:#000000;font-size:10pt;">April 1, 2019</font><font style="display: inline;color:#000000;font-size:10pt;">, and </font><font style="display: inline;color:#000000;font-size:10pt;">$50.0</font><font style="display: inline;color:#000000;font-size:10pt;"> million for the period from </font><font style="display: inline;color:#000000;font-size:10pt;">September 1, 2015</font><font style="display: inline;color:#000000;font-size:10pt;"> </font><font style="display: inline;font-size:10pt;">(effective date)</font><font style="display: inline;color:#000000;font-size:10pt;"> to </font><font style="display: inline;color:#000000;font-size:10pt;">Febr</font><font style="display: inline;font-size:10pt;">uary 3, 2020</font><font style="display: inline;color:#000000;font-size:10pt;">. </font><font style="display: inline;font-size:10pt;">The Company records all derivative instruments on a gross basis in other assets on the accompanying consolidated balance sheets, and accordingly, there are no offsetting amounts that net assets against liabilities. As of </font><font style="display: inline;color:#000000;font-size:10pt;">September 30, 2018 </font><font style="display: inline;font-size:10pt;">and December 31, 2017, the fair value of the interest rate caps was approximately </font><font style="display: inline;font-size:10pt;">$</font><font style="display: inline;font-size:10pt;">0.1</font><font style="display: inline;font-size:10pt;"> million and </font><font style="display: inline;font-size:10pt;">$30,000</font><font style="display: inline;font-size:10pt;">, respectively.</font> </p> <p><font size="1"> </font></p> </div> </div> | ||
| us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
26022000 | ||
| CY2017Q3 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
9023000 | |
| CY2018Q3 | us-gaap |
Land
Land
|
803148000 | |
| us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
29692000 | ||
| CY2018Q3 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
9486000 | |
| CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
540377000 | |
| CY2018Q3 | us-gaap |
Liabilities
Liabilities
|
564219000 | |
| CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
55368737 | |
| CY2018Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
59136072 | |
| CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
55368737 | |
| CY2018Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
59136072 | |
| CY2017Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
553000 | |
| CY2018Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
592000 | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
42077000 | ||
| CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
20941000 | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
40549000 | ||
| CY2018Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
10192000 | |
| CY2018Q3 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
91055000 | |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
69138000 | ||
| CY2017Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
23659000 | |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
75519000 | ||
| CY2018Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
24712000 | |
| CY2018Q3 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.038 | |
| CY2017Q4 | us-gaap |
Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
|
11824000 | |
| CY2018Q3 | us-gaap |
Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
|
9310000 | |
| CY2018Q3 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
2834000 | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
27855000 | ||
| CY2017Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
9595000 | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
30566000 | ||
| CY2018Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
10057000 | |
| us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
39264000 | ||
| CY2017Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
12181000 | |
| CY2018Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
14186000 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.76 | ||
| CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.36 | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.71 | ||
| CY2017Q4 | us-gaap |
Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
|
150000000 | |
| CY2018Q3 | us-gaap |
Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
|
150000000 | |
| CY2017Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
30000 | |
| CY2018Q3 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
100000 | |
| CY2017Q4 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
30000 | |
| CY2018Q3 | us-gaap |
Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
|
51000 | |
| us-gaap |
Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
|
300000 | ||
| us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
63000 | ||
| us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
211000 | ||
| CY2018Q3 | us-gaap |
Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
|
80000 | |
| CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.17 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
41555000 | |
| CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
43450000 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
76029000 | |
| CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
79414000 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
4088000 | |
| CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1751000 | |
| CY2017Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
||
| CY2018Q3 | us-gaap |
Line Of Credit
LineOfCredit
|
21850000 | |
| CY2017Q4 | us-gaap |
Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
|
0 | |
| CY2018Q3 | us-gaap |
Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
|
700000 | |
| CY2018Q3 | us-gaap |
Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
|
54345000 | |
| us-gaap |
Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
|
P9Y | ||
| us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
25549000 | ||
| us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
14986000 | ||
| us-gaap |
Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
|
25549000 | ||
| CY2017Q3 | us-gaap |
Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
|
15449000 | |
| us-gaap |
Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
|
14986000 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15250000 | ||
| CY2017Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5041000 | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
15132000 | ||
| CY2018Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5047000 | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
4408000 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
2225000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-937000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
2359000 | ||
| us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
75000 | ||
| CY2017Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
17000 | |
| us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
2323000 | ||
| CY2018Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
1341000 | |
| us-gaap |
Interest Expense
InterestExpense
|
12086000 | ||
| CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
4514000 | |
| us-gaap |
Interest Expense
InterestExpense
|
13717000 | ||
| CY2018Q3 | us-gaap |
Interest Expense
InterestExpense
|
4406000 | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
10917000 | ||
| us-gaap |
Interest Paid Net
InterestPaidNet
|
15616000 | ||
| CY2017Q4 | us-gaap |
Interest Receivable
InterestReceivable
|
0 | |
| CY2018Q3 | us-gaap |
Interest Receivable
InterestReceivable
|
400000 | |
| CY2017Q4 | us-gaap |
Land
Land
|
759659000 | |
| CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1567871000 | |
| us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
-182000 | ||
| CY2017Q3 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
8000 | |
| us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
232000 | ||
| CY2018Q3 | us-gaap |
Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
|
70000 | |
| us-gaap |
Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
|
76629000 | ||
| CY2017Q3 | us-gaap |
Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
|
26452000 | |
| us-gaap |
Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
|
87342000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
38531000 | ||
| CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
18988000 | |
| us-gaap |
Payments For Construction In Process
PaymentsForConstructionInProcess
|
5006000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
3436000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
3870000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
40317000 | ||
| CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
10122000 | |
| CY2018Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1731248000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
13538000 | ||
| CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
10952000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
3592000 | ||
| CY2018Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3065000 | |
| us-gaap |
Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
|
46000000 | ||
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
29861000 | ||
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
37259000 | ||
| us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
1999000 | ||
| us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
872000 | ||
| us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
14000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
40317000 | ||
| CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
10122000 | |
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
2295000 | ||
| us-gaap |
Payments To Acquire Buildings
PaymentsToAcquireBuildings
|
190108000 | ||
| us-gaap |
Payments To Acquire Buildings
PaymentsToAcquireBuildings
|
169143000 | ||
| us-gaap |
Payments To Acquire Loans Held For Investment
PaymentsToAcquireLoansHeldForInvestment
|
55000000 | ||
| CY2017Q4 | us-gaap |
Loans Payable
LoansPayable
|
148897000 | |
| CY2018Q3 | us-gaap |
Loans Payable
LoansPayable
|
149114000 | |
| CY2018Q3 | us-gaap |
Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
|
55000000 | |
| CY2018Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
482654000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
200000000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
150000000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
61271000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
54927000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
18805000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
485000 | |
| CY2018Q3 | us-gaap |
Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
|
54345000 | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
186055000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
113190000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-144861000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-204943000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
53651000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
57006000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
42259000 | ||
| CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
20933000 | |
| CY2017Q4 | us-gaap |
Notes Payable
NotesPayable
|
461683000 | |
| CY2018Q3 | us-gaap |
Notes Payable
NotesPayable
|
482654000 | |
| CY2017Q4 | us-gaap |
Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
|
459048000 | |
| CY2018Q3 | us-gaap |
Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
|
468541000 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
6 | ||
| CY2018Q3 | us-gaap |
Number Of Real Estate Properties
NumberOfRealEstateProperties
|
203 | |
| CY2018Q3 | us-gaap |
Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
|
29702000 | |
| us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
18936000 | ||
| us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
19685000 | ||
| us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
1961000 | ||
| CY2017Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
178000 | |
| CY2018Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| us-gaap |
Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
|
1767000 | ||
| CY2017Q3 | us-gaap |
Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
|
1767000 | |
| CY2018Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
100000000 | |
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
224469000 | ||
| CY2017Q4 | us-gaap |
Other Assets
OtherAssets
|
27955000 | |
| CY2018Q3 | us-gaap |
Other Assets
OtherAssets
|
30924000 | |
| us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
232000 | ||
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
135879000 | ||
| us-gaap |
Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
|
100000000 | ||
| us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
93000000 | ||
| us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
141850000 | ||
| us-gaap |
Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
|
900000 | ||
| us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
64183000 | ||
| us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
42991000 | ||
| CY2018Q3 | us-gaap |
Revenues
Revenues
|
37899000 | |
| CY2018Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
4466000 | |
| CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
4803000 | |
| CY2018Q3 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
2538000 | |
| CY2017Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
139814000 | |
| CY2018Q3 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
162150000 | |
| CY2017Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
1636930000 | |
| CY2018Q3 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
1797538000 | |
| CY2017Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
1497116000 | |
| CY2018Q3 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
1635388000 | |
| CY2017Q4 | us-gaap |
Real Estate Investments
RealEstateInvestments
|
1497116000 | |
| CY2018Q3 | us-gaap |
Real Estate Investments
RealEstateInvestments
|
1637926000 | |
| us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
144500000 | ||
| us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
120000000 | ||
| us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
1451000 | ||
| us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
1425000 | ||
| CY2016Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
4270000 | |
| CY2017Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
4265000 | |
| CY2017Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
7090000 | |
| CY2018Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
5856000 | |
| us-gaap |
Revenues
Revenues
|
97859000 | ||
| CY2017Q3 | us-gaap |
Revenues
Revenues
|
33640000 | |
| us-gaap |
Revenues
Revenues
|
112244000 | ||
| CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1027494000 | |
| CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1167029000 | |
| CY2017Q4 | us-gaap |
Secured Debt
SecuredDebt
|
64831000 | |
| CY2018Q3 | us-gaap |
Secured Debt
SecuredDebt
|
63502000 | |
| CY2017Q4 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
11058000 | |
| CY2018Q3 | us-gaap |
Security Deposit Liability
SecurityDepositLiability
|
11340000 | |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
140345000 | ||
| us-gaap |
Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
|
3870000 | ||
| us-gaap |
Straight Line Rent
StraightLineRent
|
2865000 | ||
| us-gaap |
Straight Line Rent
StraightLineRent
|
2937000 | ||
| CY2017Q4 | us-gaap |
Senior Notes
SeniorNotes
|
247955000 | |
| CY2018Q3 | us-gaap |
Senior Notes
SeniorNotes
|
248188000 | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7261000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6022000 | ||
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
383930 | |
| us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
277000 | ||
| CY2017Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
136000 | |
| us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
256000 | ||
| CY2018Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
66000 | |
| CY2017Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
| CY2018Q3 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;">Use of Estimates.</font><font style="display: inline;font-size:10pt;"> </font><font style="display: inline;font-size:10pt;"> The preparation of the interim consolidated financial statements in conformity with GAAP requires management 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. Actual results could differ from those estimates.</font> </p> <p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;"></font> </p> <p><font size="1"> </font></p> </div> </div> | ||
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
50277432 | ||
| CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
52804611 | |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
56743805 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
58369252 | |
| us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
381321 | ||
| CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
374842 | |
| us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
363850 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
|
374862 |
