v3.25.2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Common Shares
Paid-in Capital
Accumulated Distributions in Excess of Earnings
Total Beneficial Interest
Noncontrolling Interest in Operating Partnership
Noncontrolling Interest in Partially Owned Properties
Accumulated Comprehensive Income (Loss)
Total
Beginning Balance at Dec. 31, 2023   $ 168,975 $ (44,880) $ 124,095 $ 163,308 $ 2,555 $ 11,362 $ 301,320
Beginning Balance (in shares) at Dec. 31, 2023 11,257              
Shares/units redeemed   (1,108)   (1,108) (410)     (1,518)
Shares/units redeemed (in shares) (51)              
Dividends and distributions declared     (3,257) (3,257) (5,338)     (8,595)
Dividends reinvested - stock dividend   1,899   1,899       1,899
Dividends reinvested - stock dividend (in shares) 87              
Issuance of shares under optional purchase plan   843   843       843
Issuance of shares under optional purchase plan (in shares) 37              
Total other comprehensive (loss) income             1,517 1,517
Net income (loss)     1,739 1,739 2,850 51   4,640
Ending balance at Mar. 31, 2024   170,609 (46,398) 124,211 160,410 2,606 12,879 300,106
Ending balance (in shares) at Mar. 31, 2024 11,330              
Beginning Balance at Dec. 31, 2023   168,975 (44,880) 124,095 163,308 2,555 11,362 301,320
Beginning Balance (in shares) at Dec. 31, 2023 11,257              
Total other comprehensive (loss) income               1,090
Net income (loss)               10,783
Ending balance at Jun. 30, 2024   170,191 (47,346) 122,845 163,313 9,678 12,452 308,288
Ending balance (in shares) at Jun. 30, 2024 11,309              
Beginning Balance at Mar. 31, 2024   170,609 (46,398) 124,211 160,410 2,606 12,879 300,106
Beginning Balance (in shares) at Mar. 31, 2024 11,330              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         7,396     7,396
Shares/units redeemed   (2,885)   (2,885) (2,910)     (5,795)
Shares/units redeemed (in shares) (132)              
Dividends and distributions declared     (3,251) (3,251) (5,392)     (8,643)
Dividends reinvested - stock dividend   1,838   1,838       1,838
Dividends reinvested - stock dividend (in shares) 84              
Issuance of shares under optional purchase plan   629   629       629
Issuance of shares under optional purchase plan (in shares) 27              
Contributions from consolidated real estate entity noncontrolling interest           7,041   7,041
Total other comprehensive (loss) income             (427) (427)
Net income (loss)     2,303 2,303 3,809 31   6,143
Ending balance at Jun. 30, 2024   170,191 (47,346) 122,845 163,313 9,678 12,452 308,288
Ending balance (in shares) at Jun. 30, 2024 11,309              
Beginning Balance at Dec. 31, 2024   205,020 (51,186) 153,834 154,353 9,290 11,461 328,938
Beginning Balance (in shares) at Dec. 31, 2024 12,829              
Shares/units redeemed   (1,146)   (1,146) (1,434)     (2,580)
Shares/units redeemed (in shares) (50)              
Dividends and distributions declared     (3,867) (3,867) (5,565)     (9,432)
Dividends reinvested - stock dividend   2,066   2,066       2,066
Dividends reinvested - stock dividend (in shares) 91              
Issuance of shares under optional purchase plan   529   529       529
Issuance of shares under optional purchase plan (in shares) 22              
Contributions from consolidated real estate entity noncontrolling interest           1,000   1,000
Total other comprehensive (loss) income             (2,782) (2,782)
Net income (loss)     2,106 2,106 3,031 (230)   4,907
Ending balance at Mar. 31, 2025   206,469 (52,947) 153,522 150,385 10,060 8,679 322,646
Ending balance (in shares) at Mar. 31, 2025 12,892              
Beginning Balance at Dec. 31, 2024   205,020 (51,186) 153,834 154,353 9,290 11,461 328,938
Beginning Balance (in shares) at Dec. 31, 2024 12,829              
Total other comprehensive (loss) income               (4,238)
Net income (loss)               11,822
Ending balance at Jun. 30, 2025   207,223 (53,967) 153,256 147,763 10,034 7,223 318,276
Ending balance (in shares) at Jun. 30, 2025 12,924              
Beginning Balance at Mar. 31, 2025   206,469 (52,947) 153,522 150,385 10,060 8,679 322,646
Beginning Balance (in shares) at Mar. 31, 2025 12,892              
Shares/units redeemed   (2,040)   (2,040) (1,155)     (3,195)
Shares/units redeemed (in shares) (89)              
Dividends and distributions declared     (3,878) (3,878) (5,550)     (9,428)
Dividends reinvested - stock dividend   2,131   2,131       2,131
Dividends reinvested - stock dividend (in shares) 93              
Issuance of shares under optional purchase plan   663   663       663
Issuance of shares under optional purchase plan (in shares) 28              
Total other comprehensive (loss) income             (1,456) (1,456)
Net income (loss)     2,858 2,858 4,083 (26)   6,915
Ending balance at Jun. 30, 2025   $ 207,223 $ (53,967) $ 153,256 $ 147,763 $ 10,034 $ 7,223 $ 318,276
Ending balance (in shares) at Jun. 30, 2025 12,924