Financial Highlights
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
2014 FY
12/31/2014
Balance Sheet ($000)
Real Estate 789,335 758,327 712,315 669,012 586,967
Real Estate (Less Accumulated Depreciation) 661,223 647,301 619,990 594,037 528,094
Secured Debt 406,017 394,843 390,479 380,566 341,305
Total Debt 406,017 395,018 390,654 380,766 341,624
Total Liabilities 430,716 417,830 411,858 401,948 361,387
Equity Attributable to Common Shares 97,853 90,751 84,582 81,080 55,040
Equity Attributable to Partnership Units 185,898 183,024 174,073 159,347 150,594
Total Equity 283,751 273,775 258,655 240,427 205,634
Income Statement ($000)
Rental Revenue 117,231 114,298 108,063 97,182 70,936
Interest Expense 18,329 18,630 18,366 17,141 12,958
Total Revenue 119,605 118,037 109,681 98,395 73,462
Total Expense 101,342 100,206 97,100 87,481 64,228
Net Income 21,978 19,883 12,857 11,384 9,303
Net Income (Attributable to Partnership Units) 14,604 13,369 8,432 7,098 6,724
Net Income (Attributable Common Shares) 7,374 6,514 4,425 4,286 2,579
FFO 40,154 37,813 35,239 31,968 23,285
Modified FFO NA 39,188 37,320 34,291 27,486
Key Metrics
FFO Payout (%)(%) 66.49 66.84 64.36 64.06 75
FFO/ Total Revenue (%)(%) 33.57 32.03 32.13 32.49 31.70
Total Debt/ Gross Real Estate (%)(%) 51.44 52.09 54.84 56.91 58.20
FFO Growth 6.19 7.30 10.23 37.29 (3.45)
FFO/Share Growth 3.40 (0.70) 2.80 22 (12.60)
Per Share Information ($)
FFO / Share 1.52 1.47 1.48 1.44 1.18
Modified FFO per Share NA 1.53 1.56 1.54 1.39
Principal Payments Schedule ($000)
Debt Due this Fiscal Year 25,076 15,593 36,449 18,055 39,282
Debt Due during Next Fiscal Year 28,689 25,364 17,018 35,784 21,574
Debt Due during Second Fiscal Year 46,617 28,045 24,321 16,328 33,544
Debt Due during Third Fiscal Year 31,868 45,935 26,969 23,618 14,065
Debt Due during Fourth Fiscal Year 47,746 31,210 44,804 26,232 22,643
Debt Due Thereafter 228,343 251,420 243,950 263,930 210,197
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