| Schedule of Changes in Stockholders' Equity |
The following table summarizes the changes in our equity for the three and six months ended June 30, 2026 and 2025 (dollars in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | 2025 | | 2026 | 2025 | | Senior Common Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of senior common stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Common Stock | | | | | | | Balance, beginning of period | $ | 48 | | $ | 45 | | | $ | 48 | | $ | 44 | | | Issuance of common stock, net | — | | 1 | | | — | | 2 | | | | | | | | | Balance, end of period | $ | 48 | | $ | 46 | | | $ | 48 | | $ | 46 | | | Series F Preferred Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of Series F preferred stock, net | — | | — | | | — | | — | | | Redemption of Series F preferred stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Additional Paid in Capital | | | | | | | Balance, beginning of period | $ | 841,256 | | $ | 811,915 | | | $ | 841,574 | | $ | 784,389 | | | Issuance of common stock and Series F preferred stock, net | 79 | | 6,912 | | | 161 | | 33,883 | | | | | | | | | | | | | | | Redemption of Series F preferred stock, net | (520) | | 1,812 | | | (918) | | 2,382 | | | | | | | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (3) | | (5) | | | (5) | | (20) | | | Balance, end of period | $ | 840,812 | | $ | 820,634 | | | $ | 840,812 | | $ | 820,634 | | | Accumulated Other Comprehensive Income | | | | | | | Balance, beginning of period | $ | 6,028 | | $ | 6,647 | | | $ | 3,314 | | $ | 10,648 | | | Comprehensive income (loss) | 3,740 | | (2,344) | | | 6,467 | | (6,360) | | | Reclassification into interest expense | — | | — | | | (13) | | 15 | | | Balance, end of period | $ | 9,768 | | $ | 4,303 | | | $ | 9,768 | | $ | 4,303 | | | Distributions in Excess of Accumulated Earnings | | | | | | | Balance, beginning of period | $ | (683,857) | | $ | (635,393) | | | $ | (673,168) | | $ | (623,912) | | | Distributions declared to common, senior common, and preferred stockholders | (17,659) | | (17,045) | | | (35,318) | | (33,653) | | | Redemption of Series F preferred stock, net | (7) | | 11 | | | (3) | | 1 | | | Net income available to the Company | 8,266 | | 4,633 | | | 15,232 | | 9,770 | | | Balance, end of period | $ | (693,257) | | $ | (647,794) | | | $ | (693,257) | | $ | (647,794) | | | Total Stockholders' Equity | | | | | |
| | | | | | | | | | | | | | | | | | | Balance, beginning of period | $ | 163,477 | | $ | 183,216 | | | $ | 171,770 | | $ | 171,171 | | | Issuance of common stock and Series F preferred stock, net | 79 | | 6,913 | | | 161 | | 33,885 | | | | | | | | | | | | | | | Redemption of Series F preferred stock, net | (527) | | 1,823 | | | (921) | | 2,383 | | | | | | | | | Distributions declared to common, senior common, and preferred stockholders | (17,659) | | (17,045) | | | (35,318) | | (33,653) | | | Comprehensive income (loss) | 3,740 | | (2,344) | | | 6,467 | | (6,360) | | | Reclassification into interest expense | — | | — | | | (13) | | 15 | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (3) | | (5) | | | (5) | | (20) | | | Net income available to the Company | 8,266 | | 4,633 | | | 15,232 | | 9,770 | | | Balance, end of period | $ | 157,373 | | $ | 177,191 | | | $ | 157,373 | | $ | 177,191 | | | Non-Controlling Interest | | | | | | | Balance, beginning of period | $ | 115 | | $ | 136 | | | $ | 122 | | $ | 130 | | | Distributions declared to Non-controlling OP Unit holders | (11) | | (12) | | | (23) | | (23) | | | | | | | | | | | | | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 3 | | 5 | | | 5 | | 20 | | | Net income available to OP Units held by Non-controlling OP Unitholders | 4 | | 1 | | | 7 | | 3 | | | Balance, end of period | $ | 111 | | $ | 130 | | | $ | 111 | | $ | 130 | | | Total Equity | $ | 157,484 | | $ | 177,321 | | | $ | 157,484 | | $ | 177,321 | |
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