Financial Highlights
2022 FY
12/31/2022
2021 FY
12/31/2021
2020 FY
12/31/2020
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
Balance Sheet ($000)
Real Estate 964,462 888,340 833,225 790,894 789,335 758,327
Real Estate (Less Accumulated Depreciation) 769,612 709,186 671,902 644,578 661,223 647,301
Secured Debt 534,805 493,142 421,278 393,164 406,017 394,843
Total Debt 534,805 493,142 421,278 393,164 406,017 395,018
Total Liabilities 565,255 525,349 451,501 420,639 430,716 417,830
Equity Attributable to Common Shares 123,995 116,856 107,561 102,410 97,853 90,751
Equity Attributable to Partnership Units 185,690 179,661 183,967 176,637 185,898 183,024
Accumulated AOCI 13,782 - - - - -
Total Equity 323,467 296,467 291,528 279,047 283,751 273,775
Income Statement ($000)
Rental Revenue 135,060 129,324 124,616 119,460 116,051 114,280
Interest Expense 19,994 18,142 17,097 18,282 18,329 18,630
Total Revenue 145,591 133,933 129,076 120,884 118,425 118,019
Total Expense 121,059 109,495 102,097 104,825 100,163 100,189
Net Income 24,532 24,438 26,980 16,059 21,978 19,883
Net Income (Attributable to Partnership Units) 15,611 15,644 17,575 10,525 14,604 13,369
Net Income (Attributable Common Shares) 8,921 8,794 9,405 5,534 7,374 6,514
FFO 42,011 45,788 45,260 38,054 40,154 37,813
Modified FFO NA NA NA NA NA 39,188
Key Metrics
FFO Payout (%)(%) 80.09 65.69 65.35 74.15 66.49 66.84
FFO/ Total Revenue (%)(%) 28.86 34.19 35.06 31.48 33.91 32.04
Total Debt/ Gross Real Estate (%)(%) 55.45 55.51 50.56 49.71 51.44 52.09
FFO Growth 76.60 1.17 18.94 (5.23) 6.19 7.30
FFO/Share Growth 0.71 (0.01) 15.71 (7.90) 3.40 (0.70)
Per Share Information ($)
FFO / Share 1.44 1.61 1.62 1.40 1.52 1.47
Modified FFO per Share NA NA NA NA NA 1.53
Principal Payments Schedule ($000)
Debt Due this Fiscal Year - - 30,040 24,862 25,076 15,593
Debt Due during Next Fiscal Year 53,341 21,404 26,595 38,756 28,689 25,364
Debt Due during Second Fiscal Year 22,376 52,373 49,886 26,458 46,617 28,045
Debt Due during Third Fiscal Year 53,130 21,939 18,873 49,220 31,868 45,935
Debt Due during Fourth Fiscal Year 45,546 52,379 50,489 19,054 47,746 31,210
Debt Due Thereafter 333,913 347,555 247,228 236,688 228,343 251,420