Annual report pursuant to Section 13 and 15(d)

Schedule of Quarterly Financial Reports (Details)

v3.19.1
Schedule of Quarterly Financial Reports (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]                        
Total revenue $ 14,376 $ 14,003 $ 13,249 $ 11,564 $ 9,874 $ 8,389 $ 7,423 $ 4,659   $ 53,192 $ 30,344 $ 8,211
Total expenses 12,547 12,230 11,865 9,663 8,625 7,783 8,046 59,771   46,306 30,431 14,564
Income before gain on sale of investment property 1,829 1,773 1,384 1,901 1,249 606 (623)   $ (1,318) 6,886 (87) (6,353)
Gain on sale of investment property 7,675 0 0 0 0 0 0 0   7,675 0 0
Net income 9,504 1,773 1,384 1,901 1,249 606 (623) (1,318) [1]   14,561 (87) (6,353)
Less: Preferred stock dividends (1,455) (1,455) (1,455) (1,455) (1,456) (259) 0 0   (5,822) (1,714) 0
Less: Net (income) loss attributable to noncontrolling interest (1,013) (32) 7 (35) 14 34 0 0   1,071 (49) 0
Net income (loss) attributable to common stockholders $ 7,036 $ 286 $ (64) $ 411 $ (193) $ 381 $ (623) $ (1,318)   $ 7,668 $ (1,752) $ (6,353)
Net income (loss) attributable to common stockholders per share – basic and diluted $ 0.31 $ 0.01 $ 0.00 $ 0.02 $ (0.01) $ 0.02 $ (0.04) $ (0.07)   $ 0.35 $ (0.09) $ (0.68)
Weighted average shares outstanding – basic and diluted 22,815 21,797 21,631 21,631 21,631 21,523 17,644 17,606   21,971 19,617 9,302
[1] In the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 that was filed with the SEC on May 11, 2017, $1.2 million of costs incurred in connection with the Company’s Revolving Credit Facility were erroneously expensed and included in the General and Administrative line item within the Company’s Consolidated Statement of Operations for the three months ended March 31, 2017. The Company corrected this error by removing the approximately $1.2 million from expense and capitalizing it as deferred financing costs on the Company’s Consolidated Balance Sheet as of June 30, 2017, which was included in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 that was filed with the SEC on August 10, 2017. Based upon evaluation and consideration of provisions under ASC Topic 250 – Accounting Changes and Error Corrections, that incorporates SEC Staff Accounting Bulletin (SAB) No. 99 - Materiality, the Company determined that the impact of the error and its subsequent correction as described above, did not have a material impact on previously issued financial statements for the quarter ended March 31, 2017. The total expense and net (loss) income lines in the table above properly reflect the adjusted amounts after correcting this item.