v3.25.2
Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Parent [Member]
Noncontrolling Interest [Member]
Total
Balance (in shares) at Dec. 31, 2023 4,800,000 48,859,836          
Balance at Dec. 31, 2023 $ 48 $ 488 $ 1,047,176 $ (271,651) $ 776,061 $ 28,315 $ 804,376
Issuance of common shares, net of offering costs (in shares) 0 2,752          
Issuance of common shares, net of offering costs $ 0 $ 0 (237) 0 (237) 0 (237)
Amortization of share-based compensation 0 0 27 0 27 2,951 2,978
Dividends declared on common shares 0 0 0 (6,847) (6,847) 0 (6,847)
Distributions declared on LTIP units 0 0 0 0 0 (430) (430)
Dividends accrued on preferred shares 0 0 0 (3,975) (3,975) 0 (3,975)
Net income $ 0 $ 0 0 1,621 1,621 (73) 1,548
Issuance of common shares pursuant to Equity Incentive Plan (in shares) 0 43,670          
Issuance of common shares pursuant to Equity Incentive Plan $ 0 $ 1 470 0 471 0 471
Issuance of restricted time-based shares (in shares) 0 2,943          
Issuance of restricted time-based shares $ 0 $ 0 0 0 0 0 0
Forfeited distributions declared on LTIP units 0 0 0 0 0 9 9
Reallocation of noncontrolling interest $ 0 $ 0 (649) 0 (649) 649 0
Balance (in shares) at Jun. 30, 2024 4,800,000 48,909,201          
Balance at Jun. 30, 2024 $ 48 $ 489 1,046,787 (280,852) 766,472 31,421 797,893
Balance (in shares) at Mar. 31, 2024 4,800,000 48,907,719          
Balance at Mar. 31, 2024 $ 48 $ 489 1,046,779 (282,287) 765,029 29,949 794,978
Issuance of common shares, net of offering costs (in shares) 0 1,482          
Issuance of common shares, net of offering costs $ 0 $ 0 (7) 0 (7) 0 (7)
Amortization of share-based compensation 0 0 15 0 15 1,501 1,516
Dividends declared on common shares 0 0 0 (3,426) (3,426) 0 (3,426)
Distributions declared on LTIP units 0 0 0 0 0 (215) (215)
Dividends accrued on preferred shares 0 0 0 (1,987) (1,987) 0 (1,987)
Net income $ 0 $ 0 0 6,848 6,848 186 7,034
Balance (in shares) at Jun. 30, 2024 4,800,000 48,909,201          
Balance at Jun. 30, 2024 $ 48 $ 489 1,046,787 (280,852) 766,472 31,421 797,893
Balance (in shares) at Dec. 31, 2024 4,800,000 48,912,293          
Balance at Dec. 31, 2024 $ 48 $ 489 1,046,812 (289,130) 758,219 33,778 791,997
Issuance of common shares, net of offering costs (in shares) 0 3,724          
Issuance of common shares, net of offering costs $ 0 $ 0 27 0 27 0 27
Amortization of share-based compensation 0 0 17 0 17 2,888 2,905
Dividends declared on common shares 0 0 0 (8,820) (8,820) 0 (8,820)
Distributions declared on LTIP units 0 0 0 0 0 (645) (645)
Dividends accrued on preferred shares 0 0 0 (3,975) (3,975) 0 (3,975)
Net income $ 0 $ 0 0 6,911 6,911 106 7,017
Stock Issued During Period, Shares, Conversion of Units (in shares) 0 33,396          
Conversion of LTIP units to common shares $ 0 $ 0 533 0 533   0
Conversion of LTIP units to common shares           (533)  
Repurchases of common shares (in shares) 0 (21,012)          
Repurchases of common shares $ 0 $ 0 (148) 0 (148) 0 (148)
Issuance of common shares pursuant to Equity Incentive Plan (in shares) 0 61,551          
Issuance of common shares pursuant to Equity Incentive Plan $ 0 $ 1 562 0 563 0 563
Issuance of restricted time-based shares (in shares) 0 8,044          
Issuance of restricted time-based shares $ 0 $ 0 0 0 0 0 0
Forfeited distributions declared on LTIP units 0 0 0 0 0 48 48
Reallocation of noncontrolling interest $ 0 $ 0 763 0 763 (763) 0
Balance (in shares) at Jun. 30, 2025 4,800,000 48,997,996          
Balance at Jun. 30, 2025 $ 48 $ 490 1,048,566 (295,014) 754,090 34,879 788,969
Balance (in shares) at Mar. 31, 2025 4,800,000 48,982,638          
Balance at Mar. 31, 2025 $ 48 $ 490 1,048,151 (293,990) 754,699 34,181 788,880
Issuance of common shares, net of offering costs (in shares) 0 2,442          
Issuance of common shares, net of offering costs $ 0 $ 0 17 0 17 0 17
Amortization of share-based compensation 0 0 9 0 9 1,429 1,438
Dividends declared on common shares 0 0 0 (4,413) (4,413) 0 (4,413)
Distributions declared on LTIP units 0 0 0 0 0 (321) (321)
Dividends accrued on preferred shares 0 0 0 (1,987) (1,987) 0 (1,987)
Net income $ 0 $ 0 0 5,376 5,376 123 5,499
Stock Issued During Period, Shares, Conversion of Units (in shares) 0 33,396          
Conversion of LTIP units to common shares $ 0 $ 0 533 0 533   0
Conversion of LTIP units to common shares           (533)  
Repurchases of common shares (in shares) 0 (20,480)          
Repurchases of common shares $ 0 $ 0 (144) 0 (144) 0 (144)
Balance (in shares) at Jun. 30, 2025 4,800,000 48,997,996          
Balance at Jun. 30, 2025 $ 48 $ 490 $ 1,048,566 $ (295,014) $ 754,090 $ 34,879 $ 788,969