v3.26.3
Consolidated Statements of Changes in Equity (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders’ equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Operating Partnership Unitholders’ Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2024     23,521,693        
Beginning balance at Dec. 31, 2024 $ 317,498 $ 251,285 $ 235 $ 310,031 $ 5,230 $ (64,211) $ 66,213
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     139,626        
Net proceeds from sale of common stock 1,820 1,820 $ 1 1,819      
Issuance of operating partnership units ("OP Units") in connection with acquisition transactions 1,026           1,026
Issuance and amortization of equity-based compensation, net of forfeitures (in shares)     77,623        
Issuance and amortization of equity-based compensation, net of forfeitures 2,332 818 $ 1 817     1,514
Issuance and amortization under ESPP (in shares)     5,527        
Issuance and amortization under ESPP 77 77   77      
Restricted stock withholdings (in shares)     (21,092)        
Repurchase of common stock for tax withholding obligations (277) (277)   (277)      
Dividends and distributions (7,382) (5,761)       (5,761) (1,621)
Unrealized gain (loss) on derivative instruments (2,844) (2,229)     (2,229)   (615)
Net income 2,655 2,082       2,082 573
Reallocation of non-controlling interest 0 (2,336)   (2,336)     2,336
Ending balance (in shares) at Mar. 31, 2025     23,723,377        
Ending balance at Mar. 31, 2025 314,905 245,479 $ 237 310,131 3,001 (67,890) 69,426
Beginning balance (in shares) at Dec. 31, 2024     23,521,693        
Beginning balance at Dec. 31, 2024 317,498 251,285 $ 235 310,031 5,230 (64,211) 66,213
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Unrealized gain (loss) on derivative instruments (5,002)            
Net income 12,210            
Ending balance (in shares) at Sep. 30, 2025     25,946,621        
Ending balance at Sep. 30, 2025 348,477 273,928 $ 259 344,639 1,328 (72,298) 74,549
Beginning balance (in shares) at Mar. 31, 2025     23,723,377        
Beginning balance at Mar. 31, 2025 314,905 245,479 $ 237 310,131 3,001 (67,890) 69,426
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     529,828        
Net proceeds from sale of common stock 7,561 7,561 $ 5 7,556      
Issuance of operating partnership units ("OP Units") in connection with acquisition transactions 5,005           5,005
Shares issued upon redemption of OP Units (in shares)     11,198        
Shares issued upon redemption of OP Units 0 157   157     (157)
Issuance and amortization of equity-based compensation, net of forfeitures 1,570 700   700     870
Issuance and amortization under ESPP 19 19   19      
Dividends and distributions (7,553) (5,822)       (5,822) (1,731)
Unrealized gain (loss) on derivative instruments (1,625) (1,257)     (1,257)   (368)
Net income 4,672 3,614       3,614 1,058
Reallocation of non-controlling interest 0 351   351     (351)
Ending balance (in shares) at Jun. 30, 2025     24,264,403        
Ending balance at Jun. 30, 2025 324,554 250,802 $ 242 318,914 1,744 (70,098) 73,752
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     1,677,683        
Net proceeds from sale of common stock 25,365 25,365 $ 17 25,348      
Issuance of operating partnership units ("OP Units") in connection with acquisition transactions 715           715
Shares issued upon redemption of OP Units (in shares)     14,320        
Shares issued upon redemption of OP Units 0 190   190     (190)
Issuance and amortization of equity-based compensation, net of forfeitures (in shares)     (19,679)        
Issuance and amortization of equity-based compensation, net of forfeitures 1,111 519   519     592
Issuance and amortization under ESPP (in shares)     9,894        
Issuance and amortization under ESPP 122 122   122      
Restricted stock withholdings (in shares)     0        
Repurchase of common stock for tax withholding obligations (17) (17)   (17)      
Dividends and distributions (7,723) (6,010)       (6,010) (1,713)
Unrealized gain (loss) on derivative instruments (533) (416)     (416)   (117)
Net income 4,883 3,810       3,810 1,073
Reallocation of non-controlling interest 0 (437)   (437)     437
Ending balance (in shares) at Sep. 30, 2025     25,946,621        
Ending balance at Sep. 30, 2025 348,477 273,928 $ 259 344,639 1,328 (72,298) 74,549
Beginning balance (in shares) at Dec. 31, 2025     26,876,587        
Beginning balance at Dec. 31, 2025 359,561 285,199 $ 268 358,001 954 (74,024) 74,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     663,735        
Net proceeds from sale of common stock 11,233 11,233 $ 7 11,226      
Issuance of operating partnership units ("OP Units") in connection with acquisition transactions 743           743
Shares issued upon redemption of OP Units (in shares)     5,413        
Shares issued upon redemption of OP Units 0 72   72     (72)
Issuance and amortization of equity-based compensation, net of forfeitures (in shares)     152,542        
Issuance and amortization of equity-based compensation, net of forfeitures 2,555 875 $ 2 873     1,680
Issuance and amortization under ESPP (in shares)     5,444        
Issuance and amortization under ESPP 85 85   85      
Restricted stock withholdings (in shares)     (52,657)        
Repurchase of common stock for tax withholding obligations (940) (940)   (940)      
Dividends and distributions (8,783) (6,965)       (6,965) (1,818)
Unrealized gain (loss) on derivative instruments 1,160 917     917   243
Net income 4,838 3,826       3,826 1,012
Reallocation of non-controlling interest 0 (2,139)   (2,139)     2,139
Ending balance (in shares) at Mar. 31, 2026     27,651,064        
Ending balance at Mar. 31, 2026 370,452 292,163 $ 277 367,178 1,871 (77,163) 78,289
Beginning balance (in shares) at Dec. 31, 2025     26,876,587        
Beginning balance at Dec. 31, 2025 359,561 285,199 $ 268 358,001 954 (74,024) 74,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Unrealized gain (loss) on derivative instruments 8,606            
Net income 18,222            
Ending balance (in shares) at Sep. 30, 2026     33,487,782        
Ending balance at Sep. 30, 2026 502,122 408,063 $ 335 480,683 7,832 (80,787) 94,059
Beginning balance (in shares) at Mar. 31, 2026     27,651,064        
Beginning balance at Mar. 31, 2026 370,452 292,163 $ 277 367,178 1,871 (77,163) 78,289
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     2,490,990        
Net proceeds from sale of common stock 46,062 46,062 $ 25 46,037      
Issuance and amortization of equity-based compensation, net of forfeitures 1,813 711   711     1,102
Issuance and amortization under ESPP 68 68   68      
Dividends and distributions (8,645) (6,818)       (6,818) (1,827)
Unrealized gain (loss) on derivative instruments 1,131 892     892   239
Net income 6,403 5,052       5,052 1,351
Reallocation of non-controlling interest 0 (3,518)   (3,518)     3,518
Ending balance (in shares) at Jun. 30, 2026     30,142,054        
Ending balance at Jun. 30, 2026 417,284 334,612 $ 302 410,476 2,763 (78,929) 82,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net proceeds from sale of common stock (in shares)     3,289,644        
Net proceeds from sale of common stock 71,659 71,659 $ 33 71,626      
Issuance of operating partnership units ("OP Units") in connection with acquisition transactions 7,196           7,196
Shares issued upon redemption of OP Units (in shares)     48,275        
Shares issued upon redemption of OP Units 0 599   599     (599)
Issuance and amortization of equity-based compensation, net of forfeitures 1,849 719   719     1,130
Issuance and amortization under ESPP (in shares)     7,809        
Issuance and amortization under ESPP 125 125   125      
Dividends and distributions (9,287) (7,462)       (7,462) (1,825)
Unrealized gain (loss) on derivative instruments 6,315 5,069     5,069   1,246
Net income 6,981 5,604       5,604 1,377
Reallocation of non-controlling interest 0 (2,862)   (2,862)     2,862
Ending balance (in shares) at Sep. 30, 2026     33,487,782        
Ending balance at Sep. 30, 2026 $ 502,122 $ 408,063 $ 335 $ 480,683 $ 7,832 $ (80,787) $ 94,059