Company Information

  

Address: 6410 POPLAR AVE.
SUITE 650 
City: MEMPHIS 
State: TN 
Zip Code: 38119 
Telephone: 901.567.9522 

Description of Business

Primary SIC Code: 6798
(As filed with the SEC)  

We are a commercial real estate company incorporated in Maryland that provides capital to developers of self-storage facilities. Our principal business objective is to deliver attractive long-term risk-adjusted returns to our stockholders by investing primarily in newly-constructed self-storage facilities, which we refer to as development property investments. We expect to generate attractive, long-term returns on development property investments through interest payments (typically at a fixed rate) on our invested capital together with a 49.9% interest in the positive cash flows from operations, sales and/or refinancings of self-storage facilities, which we refer to herein as "Profits Interests." We have selectively made construction loans, operating property loans, and bridge loans where we have determined that making such loans will benefit our primary business.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
06/20172.010.35010.95
03/20172.380.3509.68
12/20162.420.3508.70
09/20161.760.35010.89
06/20160.630.35022.13
03/2016-0.510.350N/E
12/2015-0.690.350N/E

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2016 Leverage 2016
Net Inc/Comm Equity0.10Total Liab/Total Assets0.13
Net Inc/Total Assets0.08Total Liab/Inv Cap0.13
Net Inc/Inv Cap0.08Total Liab/Comm Equity0.15
Pretax Inc/Net Sales2.26Interest Coverage Ratio27.37
Net Inc/Net Sales2.45Curr Debt/EquityNA
Cash Flow/Net Sales-0.84LTD/Equity0.11
SG&A/NetSales1.44Total Debt/Equity0.11
Asset Utilization   Liquidity  
Net Receivables Turnover1.01Quick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&E0.07  

Income Statement (Millions)

  6/30/2017 3/31/2017 12/31/2016 9/30/2016
Total Revenues(Net Sales) 2.60 2.30 2.16 1.70
Cost of Goods Sold 0.08 0.06 NA 0.00
Selling & Admin Exps 2.08 2.21 1.94 1.87
Operating Income 0.44 0.04 0.22 -0.17
Interest Exp 0.23 0.20 0.37 0.15
Pretax Income 4.60 1.36 4.07 4.56
Other Income 4.39 1.53 4.22 4.88
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 5.19 1.78 4.49 4.99

Balance Sheet (Millions)

Assets 6/30/2017 3/31/2017 12/31/2016 9/30/2016
Cash & Short Term Investments 100.53 28.25 67.37 13.01
Receivables - Total 6.62 14.83 11.75 6.24
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment 171.45 125.47 95.30 85.18
Total Assets 305.13 192.43 192.78 125.83
Liabilities        
Accounts Payable 8.59 5.57 5.84 3.46
Debt in Current Liabilities NA NA NA NA
Total Current Liabilities NA NA NA NA
Long-Term Debt 20.15 19.30 18.58 17.52
Total Liabilities 28.73 24.87 24.42 20.98
Stockholder's Equity        
Minority Interest NA NA 0.00 0.00
Preferred Stock 9.45 9.45 9.45 0.00
Common Stock 0.14 0.09 0.09 0.06
Retained Earnings -5.72 -5.75 -3.84 -4.20
Treasury Stock NA NA NA NA
Total Stockholders' Equity 276.39 167.56 168.36 104.84
Total Liabilities and Stockholders' Equity 305.13 192.43 192.78 125.83

Cash Flow Summary (Millions)

Categories 6/30/2017 3/31/2017 12/31/2016 9/30/2016
Net Cash Provided by Operating Activities 0.45 0.00 0.20 -1.16
Net Cash Provided by Investing Activities -33.98 -36.44 -8.15 -8.76
Net Cash Provided by Financing Activities 105.81 -2.69 62.32 7.90

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/20151.74-2.94-0.69
12/20166.5316.022.42
Growth Rates274.76----

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional09/30/17938,63160.62




Report Date : 10/16/2017

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