v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Rental income $ 26,114 $ 21,480
Fee and other 534 670
Total revenues 26,648 22,150
Operating expenses:    
Real estate taxes 3,069 2,649
Property operating expenses 2,816 2,461
General and administrative 5,386 4,936
Casualty and impairment (gains) losses, net (263) 150
Depreciation and amortization 6,402 5,624
Total operating expenses 17,410 15,820
Loss on sale of real estate assets 0 (49)
Income from operations 9,238 6,281
Other income 0 30
Interest expense, net:    
Contractual interest expense (4,124) (3,437)
Write-off and amortization of deferred financing fees and amortization of debt discount (253) (211)
Interest income 0 6
Total interest expense, net (4,377) (3,642)
Income before income tax expense 4,861 2,669
Income tax expense (23) (14)
Net income 4,838 2,655
Net income attributable to operating partnership unitholders’ non-controlling interests (1,012) (573)
Net income attributable to common stockholders $ 3,826 $ 2,082
Net income per share:    
Basic (in dollars per share) $ 0.11 $ 0.06
Diluted (in dollars per share) $ 0.11 $ 0.06
Weighted average common shares outstanding:    
Basic (in shares) 27,071,695 23,216,150
Diluted (in shares) 27,313,093 23,216,150
Comprehensive income (loss):    
Net income $ 4,838 $ 2,655
Unrealized gain (loss) on derivative instruments 1,160 (2,844)
Comprehensive income (loss) 5,998 (189)
Comprehensive (income) loss attributable to operating partnership unitholders’ non-controlling interests (1,255) 41
Comprehensive income (loss) attributable to common stockholders $ 4,743 $ (148)