Financial Highlights
2024 FQ1 YTD
03/31/2024
2023 FY
12/31/2023
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 975,825 972,477 964,462 888,340 833,225 790,894 789,335
Real Estate (Less Accumulated Depreciation) 755,971 757,783 769,612 709,186 671,902 644,578 661,223
Secured Debt 513,354 518,119 534,805 493,142 421,278 393,164 406,017
Total Debt 513,354 518,119 534,805 493,142 421,278 393,164 406,017
Total Liabilities 544,035 553,512 565,255 525,349 451,501 420,639 430,716
Equity Attributable to Common Shares 124,212 124,096 123,995 116,856 107,561 102,410 97,853
Equity Attributable to Partnership Units 163,017 165,863 185,690 179,661 183,967 176,637 185,898
Accumulated AOCI 12,879 11,362 13,782 - - - -
Total Equity 300,108 301,321 323,467 296,467 291,528 279,047 283,751
Income Statement ($000)
Rental Revenue 37,260 143,631 135,060 129,324 124,616 119,460 116,051
Interest Expense 5,356 21,435 19,994 18,142 17,097 18,282 18,329
Total Revenue 37,734 146,177 145,591 133,933 129,076 120,884 118,425
Total Expense 33,092 135,919 121,059 109,495 102,097 104,825 100,163
Net Income 4,642 7,654 24,532 24,438 26,980 16,059 21,978
Net Income (Attributable to Partnership Units) 2,901 4,763 15,611 15,644 17,575 10,525 14,604
Net Income (Attributable Common Shares) 1,034 2,891 8,921 8,794 9,405 5,534 7,374
FFO 11,064 38,709 42,011 45,788 45,260 38,054 40,154
Modified FFO NA NA NA NA NA NA NA
Key Metrics
FFO Payout (%)(%) 77.68 88.30 80.09 65.69 65.35 74.15 66.49
FFO/ Total Revenue (%)(%) 29.32 26.48 28.86 34.19 35.06 31.48 33.91
Total Debt/ Gross Real Estate (%)(%) 52.61 53.28 55.45 55.51 50.56 49.71 51.44
Per Share Information ($)
FFO / Share 0.37 1.30 1.44 1.61 1.62 1.40 1.52
Modified FFO per Share NA NA NA NA NA NA NA
Principal Payments Schedule ($000)
Debt Due this Fiscal Year (2023) 18,517 - - - 30,040 24,862 25,076
Debt Due during Next Fiscal Year 51,978 22,304 53,341 21,404 26,595 38,756 28,689
Debt Due during Second Fiscal Year 70,285 53,288 22,376 52,373 49,886 26,458 46,617
Debt Due during Third Fiscal Year 77,987 69,259 53,130 21,939 18,873 49,220 31,868
Debt Due during Fourth Fiscal Year 41,578 79,821 45,546 52,379 50,489 19,054 47,746
Debt Due Thereafter 254,891 295,481 333,913 347,555 247,228 236,688 228,343