Take a look at our financial highlights below for a more in-depth look at the performance of Sterling Office and Industrial Trust.
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Fact Sheet
| Period Ended | Q3 2018 | Q2 2018 | Q1 2018 | Q4 2017 | Q3 2017 | Q2 2017 | Q1 2017 | Q4 2016 | Q3 2016 |
| Balance Sheet (in thousands) | |||||||||
| Real Estate | 108,687 | 108,247 | 95,962 | 94,224 | 70,357 | 61,335 | 60,900 | 47,916 | 24,216 |
| Real Estate (Less Accumulated Depreciation) | 103,292 | 103,588 | 92,292 | 91,488 | 68,398 | 59,967 | 60,088 | 47,586 | 24,095 |
| Secured Debt | 75,425 | 75,868 | 68,330 | 68,720 | 52,675 | 46,263 | 46,538 | 35,168 | 17,368 |
| Total Debt | 75,425 | 75,868 | 68,341 | 68,720 | 52,675 | 46,263 | 46,538 | 35,168 | 17,368 |
| Total Liabilities | 84,435 | 85,290 | 76,226 | 76,609 | 58,200 | 51,589 | 52,072 | 40,322 | 19,530 |
| Equity (Attributable to Common Shares) | 36,390 | 36,949 | 33,550 | 23,678 | 24,249 | 24,650 | 24,751 | 9,761 | 10,938 |
| Equity (Attributable to Partnership Units) | 19,045 | 19,639 | 17,124 | 16,937 | 17,592 | 18,115 | 18,372 | 18,844 | 8,756 |
| Total Equity | 55,435 | 56,588 | 50,674 | 40,615 | 41,841 | 42,765 | 43,123 | 28,605 | 19,694 |
| Total Assets | 139,870 | 141,878 | 126,900 | 117,224 | 100,041 | 94,354 | 95,195 | 68,927 | 39,225 |
| Income Statement (in thousands) | |||||||||
| Rental Revenue | 13,176 | 8,472 | 4,163 | 10,040 | 6,972 | 4,432 | 2,011 | 1,560 | 736 |
| Interest Expense | 2,400 | 1,543 | 746 | 2,122 | 1,474 | 936 | 441 | 425 | 180 |
| Total Revenue | 13,265 | 8,533 | 4,166 | 10,061 | 6,989 | 4,443 | 2,015 | 1,567 | 736 |
| Net Income | (2,038) | (1,464) | (680) | (2,525) | (1,757) | (1,288) | (1,370) | (3,173) | (1,098) |
| Net Income (Attributable to Common Shares) | (1,273) | (909) | (411) | (1,409) | (973) | (704) | (721) | (1,916) | (780) |
| Net Income (Attributable to Partnership Units) | (765) | (555) | (269) | (1,116) | (784) | (584) | (649) | (1,257) | (318) |
| FFO | 4,920 | 3,134 | 1,552 | 3,357 | 2,217 | 1,224 | (201) | (1,941) | (753) |
| Modified FFO | 4,920 | 3,134 | 1,552 | 4,035 | 2,896 | 1,901 | 477 | 351 | 255 |
| Total Expenses | 15,302 | 9,997 | 4,846 | 12,585 | 8,746 | 5,730 | 3,385 | 4,739 | 1,834 |
| Key Metrics (in thousands) | |||||||||
| FFO Payout (%) | 61.41% | 62.98% | 60.17% | 88.61% | 100.35% | 120.86% | (366.75)% | (45.14)% | (61.84)% |
| FFO/Total Revenue (%) | 37.09% | 36.73% | 37.27% | 31.72% | 31.72% | 27.54% | (9.97)% | (123.91)% | (102.37)% |
| Total Debt/Gross Real Estate (%) | 69.40% | 70.09% | 71.22% | 72.93% | 74.87% | 75.43% | 76.42% | 73.40% | 71.72% |
| Per Share Information ($) | |||||||||
| FFO/Share | $0.71 | $0.47 | $0.26 | $0.63 | $0.42 | $0.24 | $ (0.04) | $ (1.02) | $ (0.51) |
| Modified FFO per Share | $0.71 | $0.47 | $0.26 | $0.76 | $0.55 | $0.37 | $ 0.10 | $ 0.18 | $ 0.17 |
| Dividends Declared per Share | $0.422811 | $0.281874 | $0.140937 | $0.55 | $0.4125 | $0.2750 | $ 0.1375 | $ 0.3375 | $ 0.2250 |
| Principal Payments Schedule (in thousands) | |||||||||
| Debt Due this Fiscal Year | 505 | 983 | 1,338 | – | 354 | 602 | 903 | – | 107 |
| Debt Due during Next Fiscal Year | 2,033 | 2,033 | 1,859 | 1,758 | 1,407 | 1,258 | 1,258 | 954 | 537 |
| Debt Due during Second Fiscal Year | 2,115 | 2,115 | 1,933 | 1,865 | 1,467 | 1,311 | 1,311 | 993 | 558 |
| Debt Due during Third Fiscal Year | 28,729 | 28,729 | 28,537 | 1,941 | 1,525 | 1,362 | 1,362 | 1,033 | 580 |
| Debt Due during Fourth Fiscal Year | 1,350 | 1,350 | 1,149 | 28,512 | 28,078 | 27,908 | 27,908 | 1,073 | 601 |
| Debt Due Thereafter | 41,167 | 41,166 | 33,995 | 35,144 | 20,139 | 14,090 | 14,090 | 31,353 | 15,129 |
| Shareholder Data YTD Weighted Averages | |||||||||
| Common shares/UPREIT Units Outstanding | 6,901,752 | 6,632,832 | 6,059,844 | 5,298,534 | 5,245,888 | 5,155,390 | 4,914,811 | 1,900,496 | 1,484,526 |
| UPREIT Units Outstanding | 2,589,843 | 2,515,884 | 2,397,620 | 2,342,335 | 2,340,904 | 2,338,018 | 2,329,360 | 752,903 | 430,082 |
| Common shares Outstanding | 4,311,910 | 4,116,948 | 3,662,224 | 2,956,198 | 2,904,984 | 2,817,372 | 2,585,451 | 1,147,593 | 1,054,444 |