Financial Highlights

Financial Highlights

       
Period Ended Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016
Balance Sheet (in thousands)
Real Estate 70,357 61,335 60,900 47,916 24,216 11,219
Real Estate (Less Accumulated Depreciation) 68,398 59,967 60,088 47,586 24,095 11,176
Secured Debt 52,675 46,263 46,538 35,168 17,368 8,438
Total Debt 52,675 46,263 46,538 35,168 17,368 8,438
Total Liabilities 58,200 51,589 52,072 40,322 19,530 9,334
Equity (Attributable to Common Shares) 24,249 24,650 24,751 9,761 10,938 11,313
Equity (Attributable to Partnership Units) 17,592 18,115 18,372 18,844 8,756 3,486
Total Equity 41,841 42,765 43,123 28,605 19,694 14,799
Income Statement (in thousands)
Rental Revenue 6,972 4,432 2,011 1,560 736 207
Interest Expense 1,474 936 441 425 180 53
Total Revenue 6,989 4,443 2,015 1,567 736 207
Net Income (1,757) (1,288) (1,370) (3,173) (1,098) (594)
Net Income (Attributable to Common Shares) (973) (704) (721) (1,916) (780) (447)
Net Income (Attributable to Partnership Units) (784) (584) (649) (1,257) (318) (147)
FFO 2,217 1,224 (201) (1,941) (753) (413)
Modified FFO 2,896 1,901 477 351 255 12
Key Metrics (in thousands)
FFO Payout (%) 100.35% 120.86% (366.75)% (45.14)% (61.84)% (47.80)%
FFO/Total Revenue (%) 31.72% 27.54% (9.97)% (123.91)% (102.37)% (199.96)%
Total Debt/Gross Real Estate (%) 74.87% 75.43% 76.42% 73.40% 71.72% 75.21%
Per Share Information ($)
FFO/Share $0.42 $0.24 $ (0.04) $ (1.02) $ (0.51) $ (0.38)
Modified FFO per Share $0.55 $0.37 $ 0.10 $ 0.18 $ 0.17 $ 0.01
Dividends Declared per Share $0.4125 $0.2750 $ 0.1375 $ 0.3375 $ 0.2250 $ 0.1125
Principal Payments Schedule (in thousands)
Debt Due this Fiscal Year 354 602 903 - 107 123
Debt Due during Next Fiscal Year 1,407 1,258 1,258 954 537 257
Debt Due during Second Fiscal Year 1,467 1,311 1,311 993 558 267
Debt Due during Third Fiscal Year 1,525 1,362 1,362 1,033 580 277
Debt Due during Fourth Fiscal Year 28,078 27,908 27,908 1,073 601 288
Debt Due Thereafter 20,139 14,090 14,090 31,353 15,129 7,321
Shareholder Data YTD Weighted Averages
Common shares/UPREIT Units Outstanding 5,245,888 5,155,390 4,914,811 1,900,496 1,484,526 1,083,898
UPREIT Units Outstanding 2,340,904 2,338,018 2,329,360 752,903 430,082 267,343
Common shares Outstanding 2,904,984 2,817,372 2,585,451 1,147,593 1,054,444 816,555