7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 
      
    		                                       
      ​
    		                                       
      revenue
    		                                       
      rental revenue
    		37,036,000 37,880,000 34,595,000 34,952,000 34,175,000 34,214,000 35,069,000 32,931,000 35,487,000 36,317,000 36,199,000 36,290,000 35,347,000 33,679,000 31,852,000 30,312,000 29,967,000 28,200,000 27,325,000 24,895,000 25,055,000 22,036,000 21,533,000 20,422,000 18,117,000 16,835,000 15,141,000 13,385,000 13,111,000 12,581,000 10,488,000 9,293,290 7,921,913 6,666,538 4,629,259 3,085,383 1,932,425 1,762,769 1,298,978 
      other income
    		193,000 89,000 23,000 204,000 89,000 27,000 49,000 30,000 20,000 34,000 31,000 16,000 59,000 18,000 23,000 31,000 16,000 61,000 24,000 34,000 42,000 19,000 116,000 29,000 78,000 45,000 59,000 27,000 8,000 9,000 8,000 9,498 23,134 58,769 29,599 37,579 70,225 7,890 15,081 
      total revenue
    		37,229,000 37,969,000 34,618,000 35,156,000 34,264,000 34,241,000 35,118,000 32,961,000 35,507,000 36,351,000 36,230,000 36,306,000 35,406,000 33,697,000 31,875,000 30,343,000 29,983,000 28,261,000 27,349,000 24,929,000 25,097,000 22,055,000 21,649,000 20,451,000 18,195,000 16,880,000 15,200,000 14,375,000 14,003,000 13,249,000 11,564,000 9,873,333 8,388,863 7,422,946 4,658,858 3,122,962 2,002,650 1,770,659 1,314,059 
      expenses
    		                                       
      general and administrative
    		4,860,000 6,025,000 3,620,000 7,707,000 4,381,000 4,589,000 4,446,000 4,220,000 4,367,000 4,462,000 3,804,000 4,051,000 3,961,000 4,336,000 4,197,000 3,934,000 3,852,000 4,285,000 4,383,000 4,426,000 4,027,000 1,643,000 1,839,000 1,608,000 1,681,000 1,640,000 1,606,000 1,368,000 1,395,000 1,768,000 1,005,000 1,070,885 989,526 2,580,874 2,840,807 1,313,007 1,721,676 368,210 888,529 
      operating expenses
    		8,224,000 8,216,000 7,585,000 7,195,000 7,437,000 7,236,000 7,384,000 6,093,000 7,231,000 7,223,000 7,536,000 7,138,000 6,679,000 6,000,000 5,372,000 4,524,000 3,973,000 3,303,000 3,687,000 2,611,000 3,619,000 2,336,000 2,303,000 2,132,000 1,362,000 1,143,000 1,323,000 994,000 941,000 680,000 1,105,000 625,753 464,514       
      depreciation expense
    		11,213,000 11,307,000 10,307,000 10,194,000 9,993,000 10,127,000 10,113,000 10,204,000 10,100,000 10,468,000 10,494,000 10,580,000 10,128,000 9,898,000 9,402,000 9,046,000 8,639,000 8,292,000 7,848,000 7,364,000 6,954,000 6,593,000 5,836,000 5,585,000 5,006,000 4,608,000 3,867,000 3,679,000 3,614,000 3,445,000 2,906,000 2,556,692 2,175,668 1,850,587 1,346,053 806,383 585,449 544,002 398,830 
      amortization expense
    		3,795,000 3,984,000 3,520,000 3,445,000 3,649,000 3,866,000 3,971,000 4,041,000 4,095,000 4,337,000 4,395,000 4,513,000 4,287,000 4,138,000 3,777,000 3,607,000 3,303,000 3,135,000 3,005,000 2,774,000 2,563,000 2,348,000 1,921,000 1,812,000 1,500,000 1,255,000 1,002,000 980,000 953,000 926,000 765,000 745,605 523,487 459,308 343,600     
      interest expense
    		8,175,000 8,009,000 7,167,000 7,570,000 7,236,000 6,992,000 6,890,000 6,984,000 7,170,000 8,468,000 8,271,000 8,064,000 6,963,000 5,401,000 4,801,000 4,809,000 4,830,000 5,020,000 5,037,000 5,064,000 4,864,000 4,375,000 4,378,000 4,765,000 4,549,000 4,132,000 4,025,000 4,294,000 4,055,000 3,942,000 2,684,000 2,169,738 2,174,683 1,990,499 1,100,080 695,495 1,051,204 1,262,646 1,129,263 
      total expenses
    		36,267,000 37,541,000 32,199,000 36,266,000 32,696,000 32,810,000 32,804,000 31,542,000 32,963,000 34,960,000 34,542,000 34,458,000 32,130,000 29,863,000 27,589,000 25,925,000 24,615,000 24,097,000 24,026,000 22,337,000 34,677,000 20,383,000 18,832,000 17,676,000 15,887,000 14,418,000 13,157,000 12,546,000 12,230,000 11,865,000 9,663,000 8,625,161 7,783,327 8,045,711 7,200,160 5,052,824 3,985,476 2,264,858 3,260,622 
      income before other income
    		962,000 428,000 2,419,000                                     
      gain on sale of investment properties
    		294,000 207,000 1,358,000 5,765,000 1,823,000 -3,383,000   2,289,000 12,786,000                              
      impairment of investment property
    		-6,281,000                                       
      equity income from unconsolidated joint venture
    		-33,000 -50,000 -40,000                                     
      net income
    		-5,058,000 585,000 3,737,000 2,939,000 3,391,000 -1,952,000 2,314,000 551,000 4,833,000 14,177,000 2,173,000 1,848,000 10,029,000 3,834,000 4,286,000 5,487,000 5,368,000 4,164,000 3,323,000 2,592,000 -9,580,000 1,672,000 2,817,000 2,775,000 2,308,000 2,462,000 2,043,000 9,504,000 1,773,000 1,384,000 1,901,000 1,248,172 605,536 -622,765 -2,541,302 -1,929,862 -1,982,826 -494,199 -1,946,563 
      yoy
    		-249.16% -129.97% 61.50% 433.39% -29.84% -113.77% 6.49% -70.18% -51.81% 269.77% -49.30% -66.32% 86.83% -7.93% 28.98% 111.69% -156.03% 149.04% 17.96% -6.59% -515.08% -32.09% 37.89% -70.80% 30.17% 77.89% 7.47% 661.43% 192.80% -322.23% -174.80% -164.68% -130.54% 26.02% 30.55%     
      qoq
    		-964.62% -84.35% 27.15% -13.33% -273.72% -184.36% 319.96% -88.60% -65.91% 552.42% 17.59% -81.57% 161.58% -10.55% -21.89% 2.22% 28.91% 25.31% 28.20% -127.06% -672.97% -40.65% 1.51% 20.23% -6.26% 20.51% -78.50% 436.04% 28.11% -27.20% 52.30% 106.13% -197.23% -75.49% 31.68% -2.67% 301.22% -74.61%  
      net income margin %
    		                                       
      less: preferred stock dividends
    		-1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,456,000 -1,455,000 -1,455,000 -1,455,000 -1,455,250 -258,750       
      less: net income (income) attributable to noncontrolling interest
    		512,000 70,000    260,000              -73,000 767,000         7,000          
      net income attributable to common stockholders
    		-6,001,000 -800,000 2,104,000 1,374,000 1,791,000 -3,147,000 794,000 -840,000 3,138,000 11,820,000 673,000 368,000 8,057,000 2,236,000 2,661,000 3,803,000 3,689,000 2,553,000 1,756,000 1,063,000 -10,268,000 204,000 1,255,000 1,211,000 770,000 904,000 528,000 7,036,000 286,000 -64,000 411,000 -192,560 381,268       
      net income attributable to common stockholders per share – basic and diluted
    		-0.45 -0.01 0.03 0.02 0.03 -0.05 0.01 -0.01 0.05 0.18 0.01  0.12 0.03 0.04 0.06 0.06 0.04 0.03 0.02 -0.22 0 0.03 0.03 0.02 0.03 0.02 0.32 0.01 0 0.02 -0.01 0.02       
      weighted-average shares outstanding – basic and diluted
    		13,393 66,879 66,873 65,936 65,737 65,588 65,573 65,550 65,565 65,544 65,525 65,462 65,518 65,507 65,302 60,640 64,204 61,194 52,671 46,256 46,908 45,404 44,182 33,865 35,512 34,559 27,380 21,971 21,797 21,631 21,631 19,617 21,522,251 17,644,137 17,605,675 9,302,244 17,371,743 1,426,656 624,978 
      less: net income attributable to noncontrolling interest
    		  -178,000    -65,000 65,000 -240,000 -902,000 -45,000 -207,500 -517,000 -143,000 -170,000   -156,000 -112,000   -13,000 -107,000 -61,500 -83,000  -60,000    -35,000 14,518 34,482       
      preacquisition expense
    		         2,000 42,000 112,000 112,000 90,000 40,000 5,000 18,000 62,000 66,000 98,000 70,000 147,000                  
      income before gain on sale of investment properties
    		   1,328,250 1,568,000 1,431,000  1,405,750 2,544,000 1,391,000                              
      less: net (income) loss attributable to noncontrolling interest
    		   12,500 -145,000           -228,000 -224,000         -103,000  -1,012,000 -32,000           
      income before gain on sale of investment property
    		      2,314,000    1,688,000 1,848,000 3,276,000                           
      gain on sale of investment property
    		          485,000  6,753,000                           
      management fees – related party
    		                     2,021,000 2,002,000 1,727,000 1,621,000 1,584,000 1,334,000 1,142,000 1,104,000 1,095,000 1,081,000 1,063,675 803,804 628,374 627,147 627,147 627,147 90,000 90,000 
      management internalization expense
    		                    12,580,000 920,000 504,000                 
      preacquisition fees
    		                      49,000 47,000 168,000 56,000              
      acquisition fees
    		                           89,000 168,000 9,000 117,000 392,813 651,645 536,069 942,473     
      expense recoveries
    		                           963,000 884,000 659,000 1,068,000 570,545 443,816 697,639      
      acquisition fees – related party
    		                                      754,000 
      net income per share
    		                                 -0.04 -0.14  -0.11 -0.35 -3.11 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.