v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Series D Preferred Stock
Series B Preferred Stock
Series E Preferred Stock
Series M Preferred Stock
Preferred Stock
Series D Preferred Stock
Preferred Stock
Series B Preferred Stock
Preferred Stock
Series E Preferred Stock
Preferred Stock
Series M Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Deficit
Series D Preferred Stock
Accumulated Deficit
Series B Preferred Stock
Accumulated Deficit
Series E Preferred Stock
Accumulated Deficit
Series M Preferred Stock
Accumulated Other Comprehensive Income/(loss)
Noncontrolling Interest in Consolidated Entities
Redeemable Noncontrolling Interests in Operating Partnership
Preferred stock, beginning balance (in shares) at Dec. 31, 2023           1,600,000                          
Common stock, beginning balance (in shares) at Dec. 31, 2023                   66,636,000                  
Beginning balance at Dec. 31, 2023 $ 298,047         $ 16       $ 666 $ 718,498 $ (412,199)           $ (8,934) $ 32,395
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Purchase of common stock (in shares)                   (170,000)                  
Purchase of common stock (369)                 $ (2) (367)                
Equity-based compensation 472                   472                
Issuance of restricted shares/units (in shares)                   12,000                  
Issuance of restricted shares/units 3                   3                
Forfeiture of restricted common shares (in shares)                   (1,000)                  
Dividends declared - common stock (3,345)                     (3,345)              
Dividends declared - preferred stock   $ (825) $ (1,058) $ (7,600) $ (924)               $ (825) $ (1,058) $ (7,600) $ (924)      
Distributions to noncontrolling interests                                     (366)
Redemption/conversion of operating partnership units                                     (2,251)
Net income (loss) 15,186                     15,929           (743)  
Redemption value adjustment – preferred stock (1,998)                     (1,998)              
Redemption value adjustment 7                     7              
Preferred stock, ending balance (in shares) at Mar. 31, 2024           1,600,000                          
Common stock, ending balance (in shares) at Mar. 31, 2024                   66,477,000                  
Ending balance at Mar. 31, 2024 297,596         $ 16       $ 664 718,606 (412,013)           (9,677) 33,005
Units outstanding at beginning of year (in shares) at Dec. 31, 2023             3,078,000 16,316,000 1,833,000                    
Beginning balance, temporary equity at Dec. 31, 2023             $ 65,426 $ 377,035 $ 45,623                    
Beginning balance at Dec. 31, 2023 298,047         16       666 718,498 (412,199)           (8,934) 32,395
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation, redeemable noncontrolling interests                                     655
Issuance of preferred stock (in shares)               33,000 2,000                    
Issuance of preferred stock               $ 828 $ 37                    
Issuance of restricted shares/units 32                                    
Distributions to noncontrolling interests                                     (366)
Redemption/conversion of operating partnership units                                     (2,251)
Net income (loss)                                     296
Redemption of preferred stock (in shares)       (186,000) (87,000)     (186,000) (87,000)                    
Redemptions of preferred stock       $ (4,403) $ (2,163)     $ (4,403) $ (2,163)                    
Redemption value adjustment – preferred stock               $ 1,801 $ 197                    
Redemption value adjustment                                     (7)
Units outstanding at end of year (in shares) at Mar. 31, 2024             3,078,000 16,163,000 1,748,000                    
Ending balance, temporary equity at Mar. 31, 2024             $ 65,426 $ 375,261 $ 43,694                    
Ending balance at Mar. 31, 2024 $ 297,596         $ 16       $ 664 718,606 (412,013)           (9,677) 33,005
Preferred stock, beginning balance (in shares) at Dec. 31, 2024   1,600,000       1,600,000                          
Common stock, beginning balance (in shares) at Dec. 31, 2024 66,607,823                 66,608,000                  
Beginning balance at Dec. 31, 2024 $ 237,362         $ 16       $ 665 718,536 (477,804)         $ (684) (3,367) 29,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Purchase of common stock (in shares)                   (19,000)                  
Purchase of common stock (51)                   (51)                
Equity-based compensation (33)                   (33)                
Issuance of restricted shares/units (in shares)                   1,000                  
Issuance of restricted shares/units 4                   4                
Dividends declared - common stock (3,372)                     (3,372)              
Dividends declared - preferred stock   $ (825) $ (1,058) $ (6,616) $ (770)               $ (825) $ (1,058) $ (6,616) $ (770)      
Distributions to noncontrolling interests                                     (344)
Redemption/conversion of operating partnership units (in shares)                   457,000                  
Redemption/conversion of operating partnership units (2,251)                 $ (4) (2,247)                
Net income (loss) 10,934                     10,998           (64)  
Unrealized gain (loss) on investment in securities 779                               779   80
Redemption value adjustment – preferred stock (4,276)                     (4,276)              
Redemption value adjustment $ 1,148                     1,148              
Preferred stock, ending balance (in shares) at Mar. 31, 2025   1,600,000       1,600,000                          
Common stock, ending balance (in shares) at Mar. 31, 2025 67,046,523                 67,047,000                  
Ending balance at Mar. 31, 2025 $ 235,477         $ 16       $ 669 720,703 (482,575)         95 (3,431) 26,430
Units outstanding at beginning of year (in shares) at Dec. 31, 2024     3,078,017 14,910,521 1,476,621   3,078,000 14,911,000 1,477,000                    
Beginning balance, temporary equity at Dec. 31, 2024     $ 65,426 $ 352,502 $ 36,916   $ 65,426 $ 352,502 $ 36,916                    
Beginning balance at Dec. 31, 2024 237,362         16       665 718,536 (477,804)         (684) (3,367) 29,964
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation, redeemable noncontrolling interests                                     (15)
Issuance of preferred stock (in shares)               32,000 1,000                    
Issuance of preferred stock               $ 798 $ 39                    
Issuance of restricted shares/units 498                                    
Distributions to noncontrolling interests                                     (344)
Redemption/conversion of operating partnership units (2,251)                 (4) (2,247)                
Redemption of operating partnership units for cash                                     (92)
Net income (loss)                                     (262)
Redemption of preferred stock (in shares)       (1,033,000) (19,000)     (1,033,000) (19,000)                    
Redemptions of preferred stock       $ (25,701) $ (466)     $ (25,701) $ (466)                    
Unrealized gain (loss) on investment in securities 779                               779   80
Redemption value adjustment – preferred stock               $ 4,276                      
Redemption value adjustment                                     (1,148)
Units outstanding at end of year (in shares) at Mar. 31, 2025     3,078,017 13,909,632 1,459,040   3,078,000 13,910,000 1,459,000                    
Ending balance, temporary equity at Mar. 31, 2025     $ 65,426 $ 331,875 $ 36,489   $ 65,426 $ 331,875 $ 36,489                    
Ending balance at Mar. 31, 2025 $ 235,477         $ 16       $ 669 $ 720,703 $ (482,575)         $ 95 $ (3,431) $ 26,430