Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 12 – Income Taxes We have elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, commencing with the taxable year ended December 31, 2009. As a REIT, U.S. federal income tax law generally requires us to distribute annually at least 90% of our REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that we pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our net taxable income. We are also subject to U.S. federal, state, and local income taxes on our domestic taxable REIT subsidiaries ("TRS") based on the tax jurisdictions in which they operate. During the three and six months ended June 30, 2026, we recorded an income tax provision of $27 thousand and $0.3 million, respectively, and during the three and six months ended June 30, 2025, we recorded an income tax provision of $0.1 million and $0.2 million, respectively, related to activities of our taxable REIT subsidiaries. There was a de minimis income tax liability related to the operating activities of our TRS entities as of June 30, 2026 and $0.2 million income tax liability as of December 31, 2025. As of June 30, 2026 and December 31, 2025, there were no material deferred tax assets or liabilities. As of June 30, 2026, we had net operating losses of $5.1 million and capital losses of $25.2 million that may be carried forward for use in subsequent periods. As of June 30, 2026, tax years 2021 through 2025 remain subject to examination by taxing authorities. |