v3.26.1
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, 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              
Owner contribution reclassification           1,000   1,000
Total other comprehensive income (loss)             (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, 2025   212,282 (52,899) 159,383 159,935 9,849 6,425 335,592
Beginning Balance (in shares) at Dec. 31, 2025 13,140              
Contribution of assets in exchange for UPREIT partnership units         8,551     8,551
Shares/units redeemed   (391)   (391) (1,533)     (1,924)
Shares/units redeemed (in shares) (16)              
Dividends and distributions declared     (4,224) (4,224) (6,088)     (10,312)
Dividends reinvested - stock dividend   2,080   2,080       2,080
Dividends reinvested - stock dividend (in shares) 86              
Issuance of shares under optional purchase plan   982   982       982
Issuance of shares under optional purchase plan (in shares) 39              
Owner contribution reclassification         (2,688) 2,688    
Total other comprehensive income (loss)             285 285
Net income (loss)     2,394 2,394 3,437 (61)   5,770
Ending balance at Mar. 31, 2026   $ 214,953 $ (54,729) $ 160,224 $ 161,614 $ 12,476 $ 6,710 $ 341,024
Ending balance (in shares) at Mar. 31, 2026 13,249