| Schedule of Changes in Stockholders' Equity |
The following table summarizes the changes in our equity for the three and nine months ended September 30, 2026 and 2025 (dollars in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | 2025 | | 2026 | 2025 | | Senior Common Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of senior common stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Common Stock | | | | | | | Balance, beginning of period | $ | 48 | | $ | 46 | | | $ | 48 | | $ | 44 | | | Issuance of common stock, net | — | | 2 | | | — | | 4 | | | | | | | | | Balance, end of period | $ | 48 | | $ | 48 | | | $ | 48 | | $ | 48 | | | Series F Preferred Stock | | | | | | | Balance, beginning of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Issuance of Series F preferred stock, net | — | | — | | | — | | — | | | Redemption of Series F preferred stock, net | — | | — | | | — | | — | | | Balance, end of period | $ | 1 | | $ | 1 | | | $ | 1 | | $ | 1 | | | Additional Paid in Capital | | | | | | | Balance, beginning of period | $ | 840,812 | | $ | 820,634 | | | $ | 841,574 | | $ | 784,389 | | | Issuance of common stock and Series F preferred stock, net | 2,257 | | 19,677 | | | 2,418 | | 53,560 | | | | | | | | | | | | | | | Redemption of Series F preferred stock, net | (157) | | 1,663 | | | (1,075) | | 4,045 | | | | | | | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (8) | | (14) | | | (13) | | (34) | | | Balance, end of period | $ | 842,904 | | $ | 841,960 | | | $ | 842,904 | | $ | 841,960 | | | Accumulated Other Comprehensive Income | | | | | | | Balance, beginning of period | $ | 9,768 | | $ | 4,303 | | | $ | 3,314 | | $ | 10,648 | | | Comprehensive income (loss) | 8,225 | | (604) | | | 14,692 | | (6,964) | | | Reclassification into interest expense | — | | — | | | (13) | | 15 | | | Balance, end of period | $ | 17,993 | | $ | 3,699 | | | $ | 17,993 | | $ | 3,699 | | | Distributions in Excess of Accumulated Earnings | | | | | | | Balance, beginning of period | $ | (693,257) | | $ | (647,794) | | | $ | (673,168) | | $ | (623,912) | | | Distributions declared to common, senior common, and preferred stockholders | (17,673) | | (17,231) | | | (52,990) | | (50,882) | | | Redemption of Series F preferred stock, net | 2 | | 6 | | | (1) | | 7 | | | Net (loss) income (attributable) available to the Company | (2,059) | | 4,136 | | | 13,172 | | 13,904 | | | Balance, end of period | $ | (712,987) | | $ | (660,883) | | | $ | (712,987) | | $ | (660,883) | |
| | | | | | | | | | | | | | | | | | | Total Stockholders' Equity | | | | | | | Balance, beginning of period | $ | 157,373 | | $ | 177,191 | | | $ | 171,770 | | $ | 171,171 | | | Issuance of common stock and Series F preferred stock, net | 2,257 | | 19,679 | | | 2,418 | | 53,564 | | | | | | | | | | | | | | | Redemption of Series F preferred stock, net | (155) | | 1,669 | | | (1,076) | | 4,052 | | | | | | | | | Distributions declared to common, senior common, and preferred stockholders | (17,673) | | (17,231) | | | (52,990) | | (50,882) | | | Comprehensive income (loss) | 8,225 | | (604) | | | 14,692 | | (6,964) | | | Reclassification into interest expense | — | | — | | | (13) | | 15 | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (8) | | (14) | | | (13) | | (34) | | | Net (loss) income (attributable) available to the Company | (2,059) | | 4,136 | | | 13,172 | | 13,904 | | | Balance, end of period | $ | 147,960 | | $ | 184,826 | | | $ | 147,960 | | $ | 184,826 | | | Non-Controlling Interest | | | | | | | Balance, beginning of period | $ | 111 | | $ | 130 | | | $ | 122 | | $ | 130 | | | Distributions declared to Non-controlling OP Unit holders | (12) | | (13) | | | (35) | | (36) | | | | | | | | | | | | | | | Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 8 | | 14 | | | 13 | | 34 | | | Net (loss) income (attributable) available to OP Units held by Non-controlling OP Unitholders | (4) | | 1 | | | 3 | | 4 | | | Balance, end of period | $ | 103 | | $ | 132 | | | $ | 103 | | $ | 132 | | | Total Equity | $ | 148,063 | | $ | 184,958 | | | $ | 148,063 | | $ | 184,958 | |
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