v3.26.1
Condensed Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Preferred stock
Common stock
Additional paid-in capital
Distributions in excess of earnings
Accumulated other comprehensive income
Total stockholders' equity
Noncontrolling interests in investment entities
Noncontrolling interests in Operating Partnership
Beginning balance at Dec. 31, 2024 $ 889,669 $ 171,085 $ 797 $ 714,640 $ (218,623) $ 2,737 $ 670,636 $ 9,180 $ 209,853
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income (4,343)       (2,805)   (2,805) (3) (1,535)
Unrealized cash flow hedge gains (losses) (1,050)         (827) (827)   (223)
Realized cash flow hedge (gains) losses reclassified to net income (313)         (279) (279) 41 (75)
Net costs from issuance of common stock (14)     (14)     (14)    
Restricted stock awards, net 2,259   5 2,254     2,259    
Redemption of operating partnership units (4)   3 2,525     2,528   (2,532)
Distributions to noncontrolling interests (301)             (301)  
Dividends declared on preferred stock (2,887)       (2,887)   (2,887)    
Dividends and distributions declared on common shares and units (14,264)       (11,220)   (11,220)   (3,044)
Ending balance at Mar. 31, 2025 868,752 171,085 805 719,405 (235,535) 1,631 657,391 8,917 202,444
Beginning balance at Dec. 31, 2024 889,669 171,085 797 714,640 (218,623) 2,737 670,636 9,180 209,853
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income 2,374                
Unrealized cash flow hedge gains (losses) (1,416)                
Realized cash flow hedge (gains) losses reclassified to net income (624)                
Ending balance at Jun. 30, 2025 860,791 171,085 804 722,732 (243,695) 1,079 652,005 8,735 200,051
Beginning balance at Mar. 31, 2025 868,752 171,085 805 719,405 (235,535) 1,631 657,391 8,917 202,444
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income 6,717       5,949   5,949 (77) 845
Unrealized cash flow hedge gains (losses) (366)         (287) (287)   (79)
Realized cash flow hedge (gains) losses reclassified to net income (311)         (265) (265) 30 (76)
Net costs from issuance of common stock (52)     (52)     (52)    
Restricted stock awards, net 1,364   (1) 1,365     1,364    
Non-controlling interest recognized upon consolidation 36,323             36,323  
Acquisitions of noncontrolling interest in real estate entity (34,309)     2,014     2,014 (36,323)  
Distributions to noncontrolling interests (135)             (135)  
Dividends declared on preferred stock (2,887)       (2,887)   (2,887)    
Dividends and distributions declared on common shares and units (14,305)       (11,222)   (11,222)   (3,083)
Ending balance at Jun. 30, 2025 860,791 171,085 804 722,732 (243,695) 1,079 652,005 8,735 200,051
Beginning balance at Dec. 31, 2025 829,192 171,085 805 724,667 (269,484) 703 627,776 8,532 192,884
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income (30,382)       (23,164)   (23,164) 22 (7,240)
Unrealized cash flow hedge gains (losses) 641         502 502   139
Realized cash flow hedge (gains) losses reclassified to net income (442)         (346) (346)   (96)
Net costs from issuance of common stock (154)     (154)     (154)    
Retirement of common stock (20,965)   (37) (20,928)     (20,965)    
Restricted stock awards, net 1,130     1,130     1,130    
Acquisitions of noncontrolling interest in real estate entity (2,003)     (2,003)     (2,003)    
Redemption of operating partnership units 0     179     179   (179)
Distributions to noncontrolling interests (229)             (229)  
Dividends declared on preferred stock (2,887)       (2,887)   (2,887)    
Dividends and distributions declared on common shares and units (13,721)       (10,545)   (10,545)   (3,176)
Ending balance at Mar. 31, 2026 760,180 171,085 768 702,891 (306,080) 859 569,523 8,325 182,332
Beginning balance at Dec. 31, 2025 829,192 171,085 805 724,667 (269,484) 703 627,776 8,532 192,884
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income (51,417)                
Unrealized cash flow hedge gains (losses) 1,050                
Realized cash flow hedge (gains) losses reclassified to net income (865)                
Ending balance at Jun. 30, 2026 715,003 171,085 749 691,746 (335,100) 848 529,328 12,134 173,541
Beginning balance at Mar. 31, 2026 760,180 171,085 768 702,891 (306,080) 859 569,523 8,325 182,332
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net (loss) income (21,035)       (15,676)   (15,676) 243 (5,602)
Unrealized cash flow hedge gains (losses) 409         314 314   95
Realized cash flow hedge (gains) losses reclassified to net income (423)         (325) (325)   (98)
Net costs from issuance of common stock (42)     (42)     (42)    
Retirement of common stock (12,393)   (20) (12,373)     (12,393)    
Restricted stock awards, net 1,271   1 1,270     1,271    
Distributions to noncontrolling interests (153)             (153)  
Contributions from noncontrolling interests 3,719             3,719  
Dividends declared on preferred stock (2,887)       (2,887)   (2,887)    
Dividends and distributions declared on common shares and units (13,643)       (10,457)   (10,457)   (3,186)
Ending balance at Jun. 30, 2026 $ 715,003 $ 171,085 $ 749 $ 691,746 $ (335,100) $ 848 $ 529,328 $ 12,134 $ 173,541