v3.25.2
CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($)
Total
Preferred stock
Common stock
Additional paid-in capital
Cumulative distributions in excess of net income
Beginning balance (in shares) at Dec. 31, 2023   6,449,609      
Beginning balance at Dec. 31, 2023 $ 73,457,000 $ 159,541,000 $ 823,000 $ 868,323,000 $ (955,230,000)
Beginning balance (in shares) at Dec. 31, 2023     13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 323,000       323,000
Preferred stock dividends (2,688,000)       (2,688,000)
Ending balance (in shares) at Mar. 31, 2024   6,449,609      
Ending balance at Mar. 31, 2024 71,092,000 $ 159,541,000 $ 823,000 868,323,000 (957,595,000)
Ending balance (in shares) at Mar. 31, 2024     13,718,169    
Beginning balance (in shares) at Dec. 31, 2023   6,449,609      
Beginning balance at Dec. 31, 2023 73,457,000 $ 159,541,000 $ 823,000 868,323,000 (955,230,000)
Beginning balance (in shares) at Dec. 31, 2023     13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 341,000        
Ending balance (in shares) at Jun. 30, 2024   6,449,609      
Ending balance at Jun. 30, 2024 68,422,000 $ 159,541,000 $ 823,000 868,323,000 (960,265,000)
Ending balance (in shares) at Jun. 30, 2024     13,718,169    
Beginning balance (in shares) at Mar. 31, 2024   6,449,609      
Beginning balance at Mar. 31, 2024 71,092,000 $ 159,541,000 $ 823,000 868,323,000 (957,595,000)
Beginning balance (in shares) at Mar. 31, 2024     13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 18,000       18,000
Preferred stock dividends (2,688,000)       (2,688,000)
Ending balance (in shares) at Jun. 30, 2024   6,449,609      
Ending balance at Jun. 30, 2024 68,422,000 $ 159,541,000 $ 823,000 868,323,000 (960,265,000)
Ending balance (in shares) at Jun. 30, 2024     13,718,169    
Beginning balance (in shares) at Dec. 31, 2024   5,658,303      
Beginning balance at Dec. 31, 2024 $ 56,211,000 $ 139,794,000 $ 823,000 868,945,000 (953,351,000)
Beginning balance (in shares) at Dec. 31, 2024 13,718,169   13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income $ 1,445,000       1,445,000
Preferred stock dividends (1,864,000)       (1,864,000)
Preferred stock repurchases (in shares)   (1,301,159)      
Preferred stock repurchases (21,196,000) $ (32,470,000)   1,025,000 10,249,000
Ending balance (in shares) at Mar. 31, 2025   4,357,144      
Ending balance at Mar. 31, 2025 34,596,000 $ 107,324,000 $ 823,000 869,970,000 (943,521,000)
Ending balance (in shares) at Mar. 31, 2025     13,718,169    
Beginning balance (in shares) at Dec. 31, 2024   5,658,303      
Beginning balance at Dec. 31, 2024 $ 56,211,000 $ 139,794,000 $ 823,000 868,945,000 (953,351,000)
Beginning balance (in shares) at Dec. 31, 2024 13,718,169   13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income $ 1,312,000        
Ending balance (in shares) at Jun. 30, 2025   3,764,772      
Ending balance at Jun. 30, 2025 $ 22,428,000 $ 93,117,000 $ 823,000 870,404,000 (941,916,000)
Ending balance (in shares) at Jun. 30, 2025 13,718,169   13,718,169    
Beginning balance (in shares) at Mar. 31, 2025   4,357,144      
Beginning balance at Mar. 31, 2025 $ 34,596,000 $ 107,324,000 $ 823,000 869,970,000 (943,521,000)
Beginning balance (in shares) at Mar. 31, 2025     13,718,169    
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (133,000)       (133,000)
Preferred stock dividends (1,447,000)       (1,447,000)
Preferred stock repurchases (in shares)   (592,372)      
Preferred stock repurchases (10,588,000) $ (14,207,000)   434,000 3,185,000
Ending balance (in shares) at Jun. 30, 2025   3,764,772      
Ending balance at Jun. 30, 2025 $ 22,428,000 $ 93,117,000 $ 823,000 $ 870,404,000 $ (941,916,000)
Ending balance (in shares) at Jun. 30, 2025 13,718,169   13,718,169