Financial Highlights

Financial Highlights

       
Period Ended Q1 2018 Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016
Balance Sheet (in thousands)
Real Estate 95,962 94,224 70,357 61,335 60,900 47,916 24,216
Real Estate (Less Accumulated Depreciation) 92,292 91,488 68,398 59,967 60,088 47,586 24,095
Secured Debt 68,330 68,720 52,675 46,263 46,538 35,168 17,368
Total Debt 68,341 68,720 52,675 46,263 46,538 35,168 17,368
Total Liabilities 76,226 76,609 58,200 51,589 52,072 40,322 19,530
Equity (Attributable to Common Shares) 33,550 23,678 24,249 24,650 24,751 9,761 10,938
Equity (Attributable to Partnership Units) 17,124 16,937 17,592 18,115 18,372 18,844 8,756
Total Equity 50,674 40,615 41,841 42,765 43,123 28,605 19,694
Income Statement (in thousands)
Rental Revenue 4,163 10,040 6,972 4,432 2,011 1,560 736
Interest Expense 746 2,122 1,474 936 441 425 180
Total Revenue 4,166 10,061 6,989 4,443 2,015 1,567 736
Net Income ( 680) (2,525) (1,757) (1,288) (1,370) (3,173) (1,098)
Net Income (Attributable to Common Shares) (411) (1,409) (973) (704) (721) (1,916) (780)
Net Income (Attributable to Partnership Units) (269) (1,116) (784) (584) (649) (1,257) (318)
FFO 1,552 3,357 2,217 1,224 (201) (1,941) (753)
Modified FFO 1,552 4,035 2,896 1,901 477 351 255
Key Metrics (in thousands)
FFO Payout (%) 60.17% 88.61% 100.35% 120.86% (366.75)% (45.14)% (61.84)%
FFO/Total Revenue (%) 37.27% 31.72% 31.72% 27.54% (9.97)% (123.91)% (102.37)%
Total Debt/Gross Real Estate (%) 71.22% 72.93% 74.87% 75.43% 76.42% 73.40% 71.72%
Per Share Information ($)
FFO/Share $0.26 $0.63 $0.42 $0.24 $ (0.04) $ (1.02) $ (0.51)
Modified FFO per Share $0.26 $0.76 $0.55 $0.37 $ 0.10 $ 0.18 $ 0.17
Dividends Declared per Share $0.140937 $0.55 $0.4125 $0.2750 $ 0.1375 $ 0.3375 $ 0.2250
Principal Payments Schedule (in thousands)
Debt Due this Fiscal Year 1,338 - 354 602 903 - 107
Debt Due during Next Fiscal Year 1,859 1,758 1,407 1,258 1,258 954 537
Debt Due during Second Fiscal Year 1,933 1,865 1,467 1,311 1,311 993 558
Debt Due during Third Fiscal Year 28,537 1,941 1,525 1,362 1,362 1,033 580
Debt Due during Fourth Fiscal Year 1,149 28,512 28,078 27,908 27,908 1,073 601
Debt Due Thereafter 33,995 35,144 20,139 14,090 14,090 31,353 15,129
Shareholder Data YTD Weighted Averages
Common shares/UPREIT Units Outstanding 6,059,844 5,298,534 5,245,888 5,155,390 4,914,811 1,900,496 1,484,526
UPREIT Units Outstanding 2,397,620 2,342,335 2,340,904 2,338,018 2,329,360 752,903 430,082
Common shares Outstanding 3,662,224 2,956,198 2,904,984 2,817,372 2,585,451 1,147,593 1,054,444