v3.26.1
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
3 Months Ended
Mar. 31, 2026
DERIVATIVES AND HEDGING ACTIVITIES  
Schedule of interest rate swaps

The following table summarizes the Trust’s interest rate swaps as of March 31, 2026, which effectively convert on month floating rate LIBOR to a fixed rate:

Fixed

Effective Date

Notional

Interest Rate

Maturity Date

November 1, 2019

$

5,866

3.15%

November 1, 2029

November 1, 2019

$

4,083

3.28%

November 1, 2029

January 10, 2020

$

2,672

3.39%

January 10, 2030

December 2, 2020

$

11,148

2.91%

December 2, 2027

July 1, 2021

$

23,418

2.99%

July 1, 2031

November 10, 2021

$

26,104

3.54%

August 1, 2029

December 1, 2021

$

9,810

3.32%

December 1, 2031

August 15, 2022

$

1,334

3.07%

June 15, 2030

August 15, 2022

$

2,585

3.07%

June 15, 2030

August 15, 2022

$

1,442

2.94%

June 15, 2030

August 15, 2022

$

3,816

2.94%

June 15, 2030

May 10, 2023

$

4,368

2.79%

June 10, 2030

April 15, 2024

$

9,163

3.57%

May 15, 2032

April 15, 2024

$

3,577

3.57%

May 15, 2032

April 15, 2024

$

12,727

3.57%

May 15, 2032

January 6, 2026

$

8,554

5.88%

December 23, 2030

January 21, 2026

$

4,329

5.85%

January 15, 2031

The following table summarizes the Trust’s interest rate swaps that were designated as cash flow hedges of interest rate risk:

Number of Instruments

Notional

Interest Rate Derivatives

March 31, 2026

December 31, 2025

March 31, 2026

December 31, 2025

Interest rate swaps

17

15

$

134,996

$

123,120

Schedule of the estimated fair value of derivatives

March 31, 2026

December 31, 2025

Derivatives designated as

cash flow hedges:

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Interest rate swaps

Other assets, net

$

9,113

Other assets, net

$

8,949

Schedule of the effect of the derivatives

Location of Gain

Reclassified from

Derivatives in

Accumulated other

Amount of Gain (Loss)

Cash Flow Hedging

Total Comprehensive

Comprehensive Income

Reclassified from

Relationships

(Loss) Income

(AOCI) into Income

AOCI into Income

2026

2026

Interest rate swaps

$

285

Interest expense

$

(564)

2025

2025

Interest rate swaps

$

2,782

Interest expense

$

(789)