Financial Highlights
2023 FQ3 YTD
9/30/2023
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
Balance Sheet ($000)
Real Estate 974,582 964,462 888,340 833,225 790,894 789,335
Real Estate (Less Accumulated Depreciation) 763,371 769,612 709,186 671,902 644,578 661,223
Secured Debt 520,192 534,805 493,142 421,278 393,164 406,017
Total Debt 520,192 534,805 493,142 421,278 393,164 406,017
Total Liabilities 553,555 565,255 525,349 451,501 420,639 430,716
Equity Attributable to Common Shares 124,931 123,995 116,856 107,561 102,410 97,853
Equity Attributable to Partnership Units 171,216 185,690 179,661 183,967 176,637 185,898
Accumulated AOCI 15,766 13,782 - - - -
Total Equity 311,913 323,467 296,467 291,528 279,047 283,751
Income Statement ($000)
Rental Revenue 36,201 135,060 129,324 124,616 119,460 116,051
Interest Expense 5,376 19,994 18,142 17,097 18,282 18,329
Total Revenue 36,041 145,591 133,933 129,076 120,884 118,425
Total Expense 32,625 121,059 109,495 102,097 104,825 100,163
Net Income 3,415 24,532 24,438 26,980 16,059 21,978
Net Income (Attributable to Partnership Units) (2,149) 15,611 15,644 17,575 10,525 14,604
Net Income (Attributable Common Shares) 1,266 8,921 8,794 9,405 5,534 7,374
FFO 10,861 42,011 45,788 45,260 38,054 40,154
Modified FFO NA NA NA NA NA NA
Key Metrics
FFO Payout (%)(%) 90.29 80.09 65.69 65.35 74.15 66.49
FFO/ Total Revenue (%)(%) 30.14 28.86 34.19 35.06 31.48 33.91
Total Debt/ Gross Real Estate (%)(%) 53.38 55.45 55.51 50.56 49.71 51.44
FFO Growth 6.85 76.60 1.17 18.94 (5.23) 6.19
FFO/Share Growth 0.09 0.71 (0.01) 15.71 (7.90) 3.40
Per Share Information ($)
FFO / Share 0.37 1.44 1.61 1.62 1.40 1.52
Modified FFO per Share NA NA NA NA NA NA
Principal Payments Schedule ($000)
Debt Due this Fiscal Year (2023) 29,092 - - 30,040 24,862 25,076
Debt Due during Next Fiscal Year 22,366 53,341 21,404 26,595 38,756 28,689
Debt Due during Second Fiscal Year 53,293 22,376 52,373 49,886 26,458 46,617
Debt Due during Third Fiscal Year 70,818 53,130 21,939 18,873 49,220 31,868
Debt Due during Fourth Fiscal Year 78,219 45,546 52,379 50,489 19,054 47,746
Debt Due Thereafter 268,284 333,913 347,555 247,228 236,688 228,343