Condensed Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
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| REVENUES | ||||
| Rental income | $ 7,338 | $ 4,530 | $ 13,956 | $ 8,203 |
| Tenant reimbursements | 1,334 | 1,105 | 2,462 | 2,062 |
| Mortgage interest | 258 | 561 | 519 | 1,097 |
| Revenues | 8,930 | 6,196 | 16,937 | 11,362 |
| EXPENSES | ||||
| Property operating | 2,140 | 1,228 | 3,878 | 2,277 |
| General and administrative | 835 | 895 | 1,605 | 1,701 |
| Depreciation and amortization | 4,281 | 3,332 | 8,205 | 6,147 |
| Bad debts | 0 | 30 | 67 | 30 |
| Expenses | 7,256 | 5,485 | 13,755 | 10,155 |
| OTHER INCOME (EXPENSE) | ||||
| Interest expense | (1,209) | (222) | (1,806) | (602) |
| Interest and other income, net | 1 | 19 | 3 | 19 |
| Other Income (Expense) | (1,208) | (203) | (1,803) | (583) |
| NET INCOME | $ 466 | $ 508 | $ 1,379 | $ 624 |
| NET INCOME PER COMMON SHARE: | ||||
| Net income per common share – Basic (in dollars per share) | $ 0.04 | $ 0.04 | $ 0.11 | $ 0.06 |
| Net income per common share – Diluted (in dollars per share) | $ 0.04 | $ 0.04 | $ 0.11 | $ 0.06 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-BASIC | 12,686,183 | 12,038,381 | 12,686,183 | 9,774,782 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING-DILUTED | 12,815,605 | 12,064,839 | 12,840,730 | 9,834,050 |
| DIVIDENDS DECLARED, PER COMMON SHARE, DURING THE PERIOD (in dollars per share) | $ 0.39 | $ 0.38 | $ 0.7775 | $ 0.7575 |
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- Definition Operating Expenses, Property No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of operating interest income, including, but not limited to, amortization and accretion of premiums and discounts on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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