v3.26.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (11,735) $ 10,376
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation, depletion and amortization 2,715 3,241
Amortization of deferred financing fees and discounts/premiums on debt 282 321
Amortization of net origination fees related to notes receivable (2,072) (1,850)
Stock-based compensation 1,370 1,562
(Gain) on disposition of assets, net (3,260) (24,460)
(Income) from equity method investment (39) (165)
Current and expected credit losses 4,933 20
Impairment of assets 12,794 17,821
Amortization of dedesignated interest rate swap (193) (619)
Losses on modification and extinguishment of debt 9 23
Changes in operating assets and liabilities:    
(Increase) Decrease in accounts receivable (3,209) (2,569)
(Increase) Decrease in interest receivable (1,833) 111
(Increase) Decrease in other assets 1,545 1,308
(Increase) Decrease in inventory 80 439
Increase (Decrease) in accrued interest 339 (1,190)
Increase (Decrease) in accrued expenses 1,284 (2,721)
Increase (Decrease) in deferred revenue (451) 211
Increase (Decrease) in accrued property taxes 342 374
Net cash and cash equivalents provided by operating activities 2,901 2,233
CASH FLOWS FROM INVESTING ACTIVITIES    
Real estate acquisitions   (7,301)
Real estate and other improvements (513) (433)
Distributions from equity method investees 403 50
Collections of principal on loans 11,075 4,997
Origination fees on notes receivable 25  
Issuances of loans and financing receivables (2,858) (12,059)
Proceeds from disposition of assets 17,358 85,539
Net cash and cash equivalents provided by investing activities 25,490 70,793
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from mortgage notes payable 95,200 23,000
Repayments on mortgage notes payable (17,000) (57,183)
Common stock repurchased (17,076) (37,824)
Payment of debt issuance costs (352)  
Payment of swap fees   (17)
Redemption of Series A preferred units (68,204)  
Redemption of common units (70)  
Dividends on common stock (19,056) (61,158)
Shares withheld for income taxes on vesting of equity-based compensation (414) (273)
Distributions on Series A preferred units (2,583) (2,970)
Distributions to non-controlling interests in operating partnership, common (247) (1,573)
Net cash and cash equivalents (used in) financing activities (29,802) (137,998)
Net (decrease) in cash and cash equivalents (1,411) (64,972)
Cash and cash equivalents, beginning of period 9,293 78,441
Cash and cash equivalents, end of period 7,882 13,469
Cash paid during period for interest 8,375 8,783
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Additions to real estate improvements included in accrued expenses 105 58
Origination fees included in notes receivable   591
Swap fees payable included in accrued interest   36
Noncash conversion of accrued interest to notes receivable principal 1,509  
Prepaid property tax liability acquired in acquisitions   8
Conversion of common units to shares of common stock 12,339 7,649
Right-of-use assets obtained in exchange for new operating lease liabilities 348 626
Common stock    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common stock 3,878 2,652
Common units    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Dividend payable, common units $ 26 45
Series A preferred units    
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING TRANSACTIONS:    
Distributions payable, Series A preferred units   $ 2,074