Financial Highlights
2019 FY
12/31/2019
2018 FY
12/31/2018
2017 FY
12/31/2017
2016 FY
12/31/2016
2015 FY
12/31/2015
Balance Sheet ($000)
Real Estate 790,894 789,335 758,327 712,315 669,012
Real Estate (Less Accumulated Depreciation) 644,578 661,223 647,301 619,990 594,037
Secured Debt 393,164 406,017 394,843 390,479 380,566
Total Debt 393,164 406,017 395,018 390,654 380,766
Total Liabilities 420,639 430,716 417,830 411,858 401,948
Equity Attributable to Common Shares 102,410 97,853 90,751 84,582 81,080
Equity Attributable to Partnership Units 176,637 185,898 183,024 174,073 159,347
Total Equity 279,047 283,751 273,775 258,655 240,427
Income Statement ($000)
Rental Revenue 119,460 116,051 114,280 108,063 97,182
Interest Expense 18,282 18,329 18,630 18,366 17,141
Total Revenue 120,884 118,425 118,019 109,681 98,395
Total Expense 104,825 100,163 100,189 97,100 87,481
Net Income 16,059 21,978 19,883 12,857 11,384
Net Income (Attributable to Partnership Units) 10,525 14,604 13,369 8,432 7,098
Net Income (Attributable Common Shares) 5,534 7,374 6,514 4,425 4,286
FFO 38,054 40,154 37,813 35,239 31,968
Modified FFO NA NA 39,188 37,320 34,291
Key Metrics
FFO Payout (%)(%) 74.15 66.49 66.84 64.36 64.06
FFO/ Total Revenue (%)(%) 31.48 33.91 32.04 32.13 32.49
Total Debt/ Gross Real Estate (%)(%) 49.71 51.44 52.09 54.84 56.91
FFO Growth (5.23) 6.19 7.30 10.23 37.29
FFO/Share Growth (7.90) 3.40 (0.70) 2.80 22
Per Share Information ($)
FFO / Share 1.40 1.52 1.47 1.48 1.44
Modified FFO per Share NA NA 1.53 1.56 1.54
Principal Payments Schedule ($000)
Debt Due this Fiscal Year 24,862 25,076 15,593 36,449 18,055
Debt Due during Next Fiscal Year 38,756 28,689 25,364 17,018 35,784
Debt Due during Second Fiscal Year 26,458 46,617 28,045 24,321 16,328
Debt Due during Third Fiscal Year 49,220 31,868 45,935 26,969 23,618
Debt Due during Fourth Fiscal Year 19,054 47,746 31,210 44,804 26,232
Debt Due Thereafter 236,688 228,343 251,420 243,950 263,930
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