v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Rental and other revenue from real estate properties $ 24,041 $ 23,729 $ 48,211 $ 47,348
Loan interest and other income 433 468 868 955
Total revenues 24,474 24,197 49,079 48,303
Expenses:        
Real estate operating expenses - including $9 and $6 to related parties for the three months ended and $17 and $15 for the six months ended 11,382 11,117 21,871 21,667
Interest expense 5,993 5,707 11,953 11,383
General and administrative - including $251 and $163 to related parties for the three months ended and $504 and $341 for the six months ended 3,534 3,744 7,401 7,814
Depreciation and amortization 6,708 6,580 13,391 13,121
Total expenses 27,617 27,148 54,616 53,985
Total revenues less total expenses (3,143) (2,951) (5,537) (5,682)
Equity in (loss) earnings of unconsolidated joint ventures (1) 299 (309) 712
Insurance recovery of casualty loss 0 189 136 257
Loss from continuing operations (3,144) (2,463) (5,710) (4,713)
Income tax provision 37 60 113 118
Loss from continuing operations, net of taxes (3,181) (2,523) (5,823) (4,831)
Net income attributable to non-controlling interest (40) (43) (80) (87)
Net loss attributable to common stockholders $ (3,221) $ (2,566) $ (5,903) $ (4,918)
Weighted average number of shares of common stock outstanding:        
Basic (in shares) 17,979,991 17,985,801 18,021,620 17,986,443
Diluted (in shares) 17,979,991 17,985,801 18,021,620 17,986,443
Net loss per share amounts attributable to common stockholders:        
Basic (in dollars per share) $ (0.19) $ (0.14) $ (0.35) $ (0.26)
Diluted (in dollars per share) $ (0.19) $ (0.14) $ (0.35) $ (0.26)