Investors real estate trust (IRET)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Apr'10
ASSETS
Real estate investments
Property owned

1,687

1,643

1,720

1,663

1,673

1,627

1,638

1,636

1,669

1,568

1,831

1,744

1,358

1,685

1,665

1,667

1,681

1,801

1,763

1,618

1,335

2,093

2,013

2,025

1,450

2,042

2,032

2,016

2,032

2,007

1,983

1,979

1,892

1,861

1,844

1,777

1,770

1,800

Less accumulated depreciation

366

349

370

380

371

353

345

326

311

304

384

368

255

334

321

319

312

346

333

325

279

439

426

435

302

439

431

429

420

408

394

387

373

364

351

339

328

308

Total property owned

1,321

1,293

1,349

1,283

1,301

1,273

1,293

1,309

1,358

1,264

1,446

1,375

1,102

1,350

1,343

1,348

1,368

1,454

1,429

1,293

1,056

1,653

1,587

1,590

1,147

1,603

1,601

1,587

1,612

1,599

1,589

1,591

1,518

1,497

1,493

1,438

1,441

1,491

Unimproved land

1

1

1

1

2

5

6

7

11

15

15

15

18

19

19

18

20

22

22

24

25

27

24

24

22

21

21

20

21

18

11

10

10

6

6

6

6

6

Development in progress

-

-

-

-

-

-

-

-

-

-

-

-

-

11

20

27

51

78

89

133

153

114

146

131

104

89

90

77

46

20

23

10

27

22

14

12

9

2

Mortgage loans receivable

16

16

10

10

10

10

10

10

10

10

10

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage loans receivable, net of allowance of $0 and $3, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

Total real estate investments

1,339

1,311

1,361

1,295

1,313

1,300

1,310

1,327

1,400

1,290

1,472

1,390

1,100

1,381

1,383

1,394

1,441

1,554

1,541

1,451

1,236

1,795

1,758

1,746

1,275

1,713

1,713

1,685

1,680

1,638

1,624

1,613

1,557

1,525

1,514

1,457

1,458

1,500

Assets held for sale and assets of discontinued operations

-

-

-

-

-

-

-

-

-

0

-

37

283

140

191

215

220

22

115

453

675

44

41

6

457

-

2

3

0

0

1

1

2

-

-

-

0

-

Cash and cash equivalents

26

26

8

17

23

13

12

16

11

22

42

23

28

56

68

54

66

47

55

44

48

52

52

60

47

53

68

93

94

62

84

37

39

35

32

37

41

54

Restricted cash

2

19

3

4

4

5

5

4

4

121

4

-

27

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets, net of accumulated amortization of $5,724 and $5,444, respectively

-

-

-

-

-

-

-

-

-

-

-

1

-

0

0

1

1

23

25

25

1

28

29

31

30

34

35

36

40

41

42

43

44

49

50

48

49

50

Other assets

21

34

30

30

29

27

29

27

30

21

31

4

13

5

4

4

5

7

7

8

9

11

16

20

16

24

11

12

12

13

12

13

11

11

11

15

15

9

Other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

Marketable securities - available-for-sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Receivable arising from straight-lining of rents, net of allowance of $285 and $340, respectively

-

-

-

-

-

-

-

-

-

-

-

7

-

7

7

7

7

16

16

15

6

27

27

27

16

27

26

26

26

25

24

24

23

21

20

19

18

17

Accounts receivable, net of allowance of $182 and $210, respectively

-

-

-

-

-

-

-

-

-

-

-

2

-

3

9

3

1

5

4

3

2

5

3

7

8

15

6

8

4

3

2

6

7

3

8

7

5

4

Real estate deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-

-

1

0

6

2

7

4

3

0

3

0

0

0

0

0

0

0

0

0

0

0

0

Prepaid and other assets

-

-

-

-

-

-

-

-

-

-

-

2

-

4

3

2

2

3

3

2

3

5

2

3

3

8

7

4

5

5

2

3

3

4

1

1

2

1

Notes receivable

-

-

-

-

-

-

-

-

-

-

-

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property and equipment, net of accumulated depreciation of $1,216 and $1,199, respectively

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

Goodwill

-

-

-

-

-

-

-

-

-

-

-

1

-

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

Deferred charges and leasing costs, net of accumulated amortization of $4,619 and $4,275, respectively

-

-

-

-

-

-

-

-

-

-

-

7

-

5

5

4

4

9

9

9

8

19

20

20

10

21

20

21

22

22

21

21

21

22

21

20

20

18

TOTAL ASSETS

1,389

1,392

1,403

1,347

1,371

1,335

1,357

1,376

1,426

1,455

1,551

1,482

1,474

1,609

1,679

1,691

1,755

1,695

1,781

2,024

1,997

2,001

1,961

1,931

1,869

1,904

1,896

1,896

1,889

1,816

1,819

1,767

1,714

1,677

1,664

1,611

1,615

1,660

LIABILITIES, MEZZANINE EQUITY, AND EQUITY
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

0

-

29

130

54

69

76

77

11

145

308

401

-

-

-

332

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

52

47

40

44

40

40

27

28

29

35

33

36

35

41

40

41

39

48

55

60

55

69

67

62

45

54

57

52

50

44

38

41

47

43

39

34

37

38

Revolving lines of credit

83

50

103

177

118

57

69

130

124

67

247

125

57

157

47

17

17

17

17

83

60

50

40

35

22

22

10

10

10

10

10

44

39

49

47

34

30

6

Notes payable, net of unamortized loan costs of $894 and $942 respectively

269

269

269

144

144

143

143

69

69

69

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgages payable, net of unamortized loan costs of $1,621 and $1,712, respectively

328

329

360

370

430

444

447

464

509

553

655

660

565

688

779

812

812

761

728

669

596

1,006

1,013

1,017

678

1,008

1,021

1,030

1,049

1,041

1,045

1,080

1,048

1,038

1,039

1,002

993

1,057

Construction debt

-

-

-

-

-

-

-

-

-

0

21

20

41

39

82

78

82

140

128

165

136

132

107

83

63

47

31

32

18

21

32

25

14

6

1

6

8

1

TOTAL LIABILITIES

732

695

773

737

734

686

688

692

732

725

958

873

831

980

1,019

1,026

1,029

979

1,075

1,288

1,250

1,258

1,228

1,199

1,142

1,133

1,120

1,125

1,128

1,117

1,126

1,191

1,149

1,137

1,126

1,077

1,070

1,104

COMMITMENTS AND CONTINGENCIES (NOTE 10)

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

0

0

0

0

0

0

-

0

0

-

-

-

0

-

-

0

0

0

-

-

-

-

Temporary Equity, Carrying Amount, Attributable to Parent

-

-

-

-

-

5

6

6

6

6

6

7

7

7

8

7

7

7

7

6

6

6

6

6

6

-

-

-

5

-

-

-

-

0

1

1

0

1

REDEEMABLE NONCONTROLLING INTERESTS – CONSOLIDATED REAL ESTATE ENTITIES

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

SERIES D PREFERRED UNITS (Cumulative convertible preferred units, $100 par value, 166 units issued and outstanding at March 31, 2020 and December 31, 2019, aggregate liquidation preference of $16,560)

16

16

16

16

16

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

EQUITY
Series C Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, $25 per share liquidation preference, 3,982 shares issued and outstanding at March 31, 2020, aggregate liquidation preference of $99,552 and 4,118 shares issued and outstanding at December 31, 2019, aggregate liquidation preference of $102,971)

96

99

99

99

99

99

99

99

99

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

-

27

27

27

27

27

Series A Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, 1,150,000 shares issued and outstanding at January 31, 2014 and April 30, 2013, aggregate liquidation preference of $28,750,000)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

27

27

-

-

-

-

-

-

-

-

-

-

Series B Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares, no par value, 4,600,000 shares issued and outstanding at January 31, 2014 and April 30, 2013, aggregate liquidation preference of $115,000,000)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111

111

111

-

-

-

-

-

-

-

-

-

-

Common Shares of Beneficial Interest (Unlimited authorization, no par value, 12,163 shares issued and outstanding at March 31, 2020 and 12,098 shares issued and outstanding at December 31, 2019)

912

917

886

888

895

899

900

899

900

910

910

912

908

921

920

922

922

924

936

957

951

935

918

884

843

829

818

807

784

721

711

701

684

657

643

627

621

583

Accumulated distributions in excess of net income

-407

-390

-428

-450

-443

-429

-416

-402

-395

-364

-490

-488

-466

-486

-489

-482

-442

-434

-455

-452

-438

-430

-420

407

-389

-344

-331

-323

-310

-305

-295

-289

-278

-269

-260

-250

-237

-201

Accumulated other comprehensive income (loss)

-17

-7

-9

-7

-3

-0

3

1

1

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total shareholders’ equity

584

619

547

529

548

568

586

598

605

645

519

535

553

547

570

579

618

628

620

643

652

643

636

616

592

624

626

623

612

555

555

439

432

414

409

404

411

409

Noncontrolling interests – Operating Partnership (1,043 units at March 31, 2020 and 1,058 units at December 31, 2019)

54

55

60

57

66

6

69

71

8

76

64

64

9

72

71

5

21

21

22

30

30

31

26

25

22

29

29

25

20

21

14

13

13

10

10

8

8

10

Noncontrolling interests – consolidated real estate entities

0

5

5

6

6

67

6

7

73

1

1

1

73

2

9

73

78

58

55

56

58

61

63

84

105

117

120

122

122

121

122

122

118

114

116

119

123

134

Total equity

639

679

613

594

620

643

662

677

687

723

585

601

636

621

651

658

718

708

698

729

740

736

726

726

720

771

775

771

755

698

692

575

565

540

537

532

544

555

TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY

1,389

1,392

1,403

1,347

1,371

1,335

1,357

1,376

1,426

1,455

1,551

1,482

1,474

1,609

1,679

1,691

1,755

1,695

1,781

2,024

1,997

2,001

1,961

1,931

1,869

1,904

1,896

1,896

1,889

1,816

1,819

1,767

1,714

1,677

1,664

1,611

1,615

1,660

Series B Preferred Stock
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)

-

-

-

-

-

-

-

-

-

-

-

-

111

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series C Preferred Stock
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred Series A [Member]
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred Series B [Member]
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

111

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-