| Schedule of Changes in Stockholders' Equity |
The following table summarizes the changes in our equity for the three and six months ended June 30, 2025 and 2024 (dollars in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | 2024 | | 2025 | 2024 | | Senior Common Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of senior common stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Common Stock | | | | | |
| | | | | | | | | | | | | | | | | | | Balance, beginning of period | $ | 45 | | $ | 40 | | | $ | 44 | | $ | 40 | | | Issuance of common stock, net | 1 | | 1 | | | 2 | | 1 | | | | | | | | | Balance, end of period | $ | 46 | | $ | 41 | | | $ | 46 | | $ | 41 | | | Series F Preferred Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of Series F preferred stock, net | — | | — | | | — | | — | | | Redemption of Series F preferred stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Additional Paid in Capital | | | | | | | Balance, beginning of period | $ | 811,915 | | $ | 730,465 | | | $ | 784,389 | | $ | 730,256 | | | Issuance of common stock and Series F preferred stock, net | 6,912 | | 10,648 | | | 33,883 | | 10,845 | | | | | | | | | Redemption of OP Units | — | | 3,865 | | | — | | 3,865 | | | Redemption of Series F preferred stock, net | 1,812 | | 255 | | | 2,382 | | 310 | | | | | | | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (5) | | (3,119) | | | (20) | | (3,162) | | | Balance, end of period | $ | 820,634 | | $ | 742,114 | | | $ | 820,634 | | $ | 742,114 | | | Accumulated Other Comprehensive Income | | | | | | | Balance, beginning of period | $ | 6,647 | | $ | 13,281 | | | $ | 10,648 | | $ | 7,758 | | | Comprehensive (loss) income | (2,344) | | 470 | | | (6,360) | | 5,888 | | | Reclassification into interest expense | — | | 8 | | | 15 | | 113 | | | Balance, end of period | $ | 4,303 | | $ | 13,759 | | | $ | 4,303 | | $ | 13,759 | | | Distributions in Excess of Accumulated Earnings | | | | | | | Balance, beginning of period | $ | (635,393) | | $ | (596,475) | | | $ | (623,912) | | $ | (584,776) | | | Distributions declared to common, senior common, and preferred stockholders | (17,045) | | (15,341) | | | (33,653) | | (30,560) | | | Redemption of Series F preferred stock, net | 11 | | (4) | | | 1 | | (7) | | | Net income available to the Company | 4,633 | | 1,611 | | | 9,770 | | 5,134 | | | Balance, end of period | $ | (647,794) | | $ | (610,209) | | | $ | (647,794) | | $ | (610,209) | | | Total Stockholders' Equity | | | | | | | Balance, beginning of period | $ | 183,216 | | $ | 147,313 | | | $ | 171,171 | | $ | 153,280 | | | Issuance of common stock and Series F preferred stock, net | 6,913 | | 10,649 | | | 33,885 | | 10,846 | | | | | | | | | Redemption of OP Units | — | | 3,865 | | | — | | 3,865 | | | Redemption of Series F preferred stock, net | 1,823 | | 251 | | | 2,383 | | 303 | | | | | | | | | Distributions declared to common, senior common, and preferred stockholders | (17,045) | | (15,341) | | | (33,653) | | (30,560) | | | Comprehensive (loss) income | (2,344) | | 470 | | | (6,360) | | 5,888 | | | Reclassification into interest expense | — | | 8 | | | 15 | | 113 | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (5) | | (3,119) | | | (20) | | (3,162) | | | Net income available to the Company | 4,633 | | 1,611 | | | 9,770 | | 5,134 | | | Balance, end of period | $ | 177,191 | | $ | 145,707 | | | $ | 177,191 | | $ | 145,707 | | | Non-Controlling Interest | | | | | | | Balance, beginning of period | $ | 136 | | $ | 938 | | | $ | 130 | | $ | 986 | | | Distributions declared to Non-controlling OP Unit holders | (12) | | (67) | | | (23) | | (160) | | | | | | | | | Redemptions of OP Units | — | | (3,865) | | | — | | (3,865) | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 5 | | 3,119 | | | 20 | | 3,162 | | | Net income (loss) available (attributable) to OP Units held by Non-controlling OP Unitholders | 1 | | (11) | | | 3 | | (9) | | | Balance, end of period | $ | 130 | | $ | 114 | | | $ | 130 | | $ | 114 | | | Total Equity | $ | 177,321 | | $ | 145,821 | | | $ | 177,321 | | $ | 145,821 | |
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