Company Quick10K Filing
Hines Global Income Trust
Price-0.00 EPS-0
Shares69 P/E0
MCap-0 P/FCF-0
Net Debt645 EBIT-18
TEV645 TEV/EBIT-36
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-14
10-Q 2020-03-31 Filed 2020-05-15
10-K 2019-12-31 Filed 2020-03-30
10-Q 2019-09-30 Filed 2019-11-13
10-Q 2019-06-30 Filed 2019-08-14
10-Q 2019-03-31 Filed 2019-05-14
10-K 2018-12-31 Filed 2019-03-29
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-11
10-K 2017-12-31 Filed 2018-03-29
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-14
10-Q 2017-03-31 Filed 2017-05-15
10-K 2016-12-31 Filed 2017-03-27
10-Q 2016-09-30 Filed 2016-11-09
10-Q 2016-06-30 Filed 2016-08-12
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-03-24
10-Q 2015-09-30 Filed 2015-11-09
10-Q 2015-06-30 Filed 2015-08-13
10-Q 2015-03-31 Filed 2015-05-13
10-K 2014-12-31 Filed 2015-03-25
10-Q 2014-09-30 Filed 2014-11-10
8-K 2020-09-09 Shareholder Vote, Regulation FD, Exhibits
8-K 2020-08-31 Regulation FD, Other Events, Exhibits
8-K 2020-08-17 Other Events, Exhibits
8-K 2020-07-17 Other Events, Exhibits
8-K 2020-07-06 Regulation FD, Other Events, Exhibits
8-K 2020-06-22
8-K 2020-06-16
8-K 2020-05-14
8-K 2020-04-29
8-K 2020-04-21
8-K 2020-04-20
8-K 2020-04-16
8-K 2020-03-19
8-K 2020-03-17
8-K 2020-02-19
8-K 2020-02-13
8-K 2020-01-29
8-K 2020-01-27
8-K 2020-01-16
8-K 2019-12-18
8-K 2019-12-17
8-K 2019-12-11
8-K 2019-12-11
8-K 2019-11-21
8-K 2019-11-14
8-K 2019-11-14
8-K 2019-10-17
8-K 2019-09-30
8-K 2019-09-26
8-K 2019-09-25
8-K 2019-09-24
8-K 2019-09-19
8-K 2019-09-16
8-K 2019-08-16
8-K 2019-07-17
8-K 2019-06-14
8-K 2019-05-23
8-K 2019-05-16
8-K 2019-05-06
8-K 2019-04-29
8-K 2019-04-15
8-K 2019-04-12
8-K 2019-03-15
8-K 2019-02-14
8-K 2019-01-16
8-K 2018-12-31
8-K 2018-12-18
8-K 2018-12-14
8-K 2018-12-13
8-K 2018-11-15
8-K 2018-11-08
8-K 2018-10-17
8-K 2018-10-03
8-K 2018-10-01
8-K 2018-10-01
8-K 2018-09-20
8-K 2018-09-14
8-K 2018-09-04
8-K 2018-08-17
8-K 2018-08-16
8-K 2018-08-01
8-K 2018-07-27
8-K 2018-07-17
8-K 2018-07-09
8-K 2018-06-15
8-K 2018-06-01
8-K 2018-05-15
8-K 2018-05-01
8-K 2018-04-16
8-K 2018-04-02
8-K 2018-03-30
8-K 2018-03-06
8-K 2018-03-01
8-K 2018-02-01
8-K 2018-01-02

HGIT 10Q Quarterly Report

Part I - Financial Information
Item 1. Condensed Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-10.1 ex101bishopscontractfo.htm
EX-31.1 hgitexhibit3116302020.htm
EX-31.2 hgitexhibit3126302020.htm
EX-32.1 hgitexhibit3216302020.htm

Hines Global Income Trust Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
1.41.10.80.50.2-0.12014201620182020
Assets, Equity
0.10.10.0-0.0-0.1-0.12014201620182020
Rev, G Profit, Net Income
0.30.20.1-0.1-0.2-0.32014201620182020
Ops, Inv, Fin

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One) 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to

Commission file number: 000-55599
Hines Global Income Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland80-0947092
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
2800 Post Oak Boulevard 
Suite 5000 
HoustonTexas77056-6118
(Address of principal executive offices)(Zip code)

(888220-6121
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Exchange Act: None.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes   No 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes   No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filerNon-accelerated filer
Smaller reporting companyEmerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes   No

As of August 1, 2020, approximately 18.7 million shares of the registrant’s Class AX common stock, 19.6 million shares of the registrant’s Class TX common stock, 0.1 million shares of the registrant’s Class IX common stock, 37.4 million shares of the registrant’s Class T common stock, 9.4 million shares of the registrant’s Class D common stock and 12.2 million shares of the registrant’s Class I common stock were outstanding.




TABLE OF CONTENTS
PART I – FINANCIAL INFORMATION
Item 1.Condensed Consolidated Financial Statements (Unaudited): 
 
 
 
 
 
Item 2.
Item 3.
Item 4.
PART II – OTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.



Table of Contents
PART I - FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

HINES GLOBAL INCOME TRUST, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
 June 30, 2020December 31, 2019
(in thousands, except per share amounts)
ASSETS  
Investment property, net$1,266,124  $1,254,304  
Investments in real estate-related securities37,653  36,491  
Cash and cash equivalents71,558  45,875  
Restricted cash6,122  10,563  
Derivative instruments337  163  
Tenant and other receivables, net14,589  14,160  
Intangible lease assets, net81,923  98,537  
Right-of-use asset, net4,153  37,606  
Deferred leasing costs, net15,757  18,418  
Deferred financing costs, net1,909  2,311  
Other assets10,107  5,129  
Assets held for sale  49,988  
Total assets$1,510,232  $1,573,545  
LIABILITIES AND EQUITY
Liabilities:
Accounts payable and accrued expenses$28,319  $29,838  
Due to affiliates37,596  42,782  
Intangible lease liabilities, net16,865  19,633  
Operating lease liability1,510  1,583  
Other liabilities12,519  21,428  
Derivative instruments  1,079  
Distributions payable4,501  3,837  
Note payable to affiliate  75,000  
Notes payable, net605,395  752,131  
Liabilities associated with assets held for sale  34,713  
Total liabilities706,705  982,024  
Commitments and contingencies (Note 11)    
Equity:  
Stockholders’ equity:  
Preferred shares, $0.001 par value per share; 500,000 preferred shares authorized, none issued or outstanding as of June 30, 2020 and December 31, 2019
    
Common shares, $0.001 par value per share (Note 6)
97  83  
Additional paid-in capital868,235  735,545  
Accumulated distributions in excess of earnings(57,398) (146,830) 
Accumulated other comprehensive income (loss)(7,407) 2,723  
Total stockholders’ equity803,527  591,521  
Noncontrolling interests    
Total equity803,527  591,521  
Total liabilities and equity$1,510,232  $1,573,545  
See notes to the condensed consolidated financial statements.
1

Table of Contents
HINES GLOBAL INCOME TRUST, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the Three and Six Months Ended June 30, 2020 and 2019
(UNAUDITED)
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
(in thousands, except per share amounts)
Revenues:
Rental revenue$27,001  $23,018  $60,120  $44,468  
Other revenue813  536  1,539  823  
Total revenues27,814  23,554  61,659  45,291  
Expenses:  
Property operating expenses7,139  5,170  15,213  10,706  
Real property taxes3,489  2,699  6,971  5,297  
Property management fees1,192  940  2,549  1,644  
Depreciation and amortization14,457  9,741  30,686  19,069  
Acquisition related expenses274  13  291  17  
Asset management fees2,747  1,801  5,538  3,288  
Performance participation allocation  1,476    2,597  
General and administrative expenses1,286  948  2,324  1,795  
Total expenses30,584  22,788  63,572  44,413  
Other income (expenses):
Gain (loss) on derivative instruments1,514  (77) 8,470  (1,187) 
Gain (loss) on investments in real estate-related securities3,136  161  (4,601) 1,327  
Gain on sale of real estate80,457    130,101    
Foreign currency gains (losses)1,374  (267) (1,145) (336) 
Interest expense(4,463) (4,317) (10,395) (8,514) 
Interest and other income159  244  710  372  
Income (loss) before benefit (provision) for income taxes79,407  (3,490) 121,227  (7,460) 
Benefit (provision) for income taxes1,906  40  1,838  11  
Provision for income taxes related to sale of real estate(7,773)   (7,773)   
Net income (loss)73,540  (3,450) 115,292  (7,449) 
Net (income) loss attributable to noncontrolling interests(4) (4) (7) (7) 
Net income (loss) attributable to common stockholders$73,536  $(3,454) $115,285  $(7,456) 
Basic and diluted income (loss) per common share$0.77  $(0.06) $1.23  $(0.14) 
Weighted average number of common shares outstanding95,490  57,004  93,900  52,049  
Comprehensive income (loss):
Net income (loss)$73,540  $(3,450) $115,292  $(7,449) 
Other comprehensive income (loss):
Foreign currency translation adjustment5,483  2,091  (10,130) 71  
Comprehensive income (loss)$79,023  $(1,359) $105,162  $(7,378) 
Comprehensive (income) loss attributable to noncontrolling interests(4) (4) (7) (7) 
Comprehensive income (loss) attributable to common stockholders$79,019  $(1,363) $105,155  $(7,385) 

See notes to the condensed consolidated financial statements.
2

Table of Contents
HINES GLOBAL INCOME TRUST, INC.
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
For the Six Months Ended June 30, 2020 and 2019
(UNAUDITED)
(In thousands)
Hines Global Income Trust, Inc. Stockholders
 Common SharesAdditional Paid-in CapitalAccumulated Distributions in Excess of EarningsAccumulated Other Comprehensive Income (Loss)Total Stockholders’ EquityNoncontrolling Interests
SharesAmount
Balance as of January 1, 202081,847  $83  $735,545  $(146,830) $2,723  $591,521  $  
Issuance of common shares10,735  12  112,179  —  —  112,191  —  
Distributions declared—  —  —  (12,401) —  (12,401) (3) 
Redemption of common shares(464)   (5,395) —  —  (5,395) —  
Selling commissions, dealer manager fees and distribution and stockholder servicing fees—  —  (6,240) —  —  (6,240) —  
Offering costs—  —  (863) —  —  (863) —  
Net income (loss)—  —  —  41,749  —  41,749  3  
Foreign currency translation adjustment—  —  —  —  (15,613) (15,613) —  
Balance as of March 31, 202092,118  $95  $835,226  $(117,482) $(12,890) $704,949  $  
Issuance of common shares4,822  3  49,404  —  —  49,407  —  
Distributions declared—  —  —  (13,452) —  (13,452) (4) 
Redemption of common shares(1,037) (1) (11,399) —  —  (11,400) —  
Selling commissions, dealer manager fees and distribution and stockholder servicing fees—  —  (4,009) —  —  (4,009) —  
Offering costs—  —  (987) —  —  (987) —  
Net income (loss)—  —  —  73,536  —  73,536  4  
Foreign currency translation adjustment—  —  —  —  2,323  2,323  —  
Foreign currency translation adjustment reclassified into earnings—  —  —  —  3,160  3,160  —  
Balance as of June 30, 202095,903  $97  $868,235  $(57,398) $(7,407) $803,527  $  
Hines Global Income Trust, Inc. Stockholders
 Common SharesAdditional Paid-in CapitalAccumulated Distributions in Excess of EarningsAccumulated Other Comprehensive Income (Loss)Total Stockholders’ Equity Noncontrolling Interests
SharesAmount
Balance as of January 1, 201943,584  $44  $371,274  $(91,711) $(874) $278,733  $  
Issuance of common shares6,109  7  62,886  —  —  62,893  —  
Distributions declared—  —  —  (6,704) —  (6,704) (3) 
Redemption of common shares(362)   (4,014) —  —  (4,014) —  
Selling commissions, dealer manager fees and distribution and stockholder servicing fees—  —  (4,366) —  —  (4,366) —  
Offering costs—  —  (1,240) —  —  (1,240) —  
Net income (loss)—  —  —  (4,002) —  (4,002) 3  
Foreign currency translation adjustment—  —  —  —  (