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Condensed Consolidated Statements of Cash Flows
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Cash flows from operating activities    
Net income $ 1,052,000 $ 1,481,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,541,000 14,949,000
Amortization of deferred financing costs 558,000 308,000
Amortization of above/below-market assumed debt 29,000 29,000
Noncash revenue adjustments (583,000) (509,000)
Amortization of deferred gains on interest rate swaps (979,000) 0
Stock-based compensation expense 1,751,000 1,027,000
(Gain) loss on sales of real estate, net (997,000) 319,000
Provisions for impairment 3,662,000 0
Loss (gain) on involuntary conversion of buildings and improvements 414,000 (12,000)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:    
Other assets, net (4,015,000) (1,845,000)
Accounts payable, accrued expenses and other liabilities (6,782,000) (441,000)
Lease incentive payments 0 (500,000)
Net cash provided by operating activities 11,651,000 14,806,000
Cash flows from investing activities    
Acquisitions of real estate (95,153,000) (67,717,000)
Real estate development and improvements (12,281,000) (2,480,000)
Investment in mortgage loans receivable (10,191,000) (45,917,000)
Principal collections on mortgage loans receivable 7,000 0
Earnest money deposits (42,000) (1,773,000)
Purchase of computer equipment and other corporate assets (8,000) 0
Proceeds from sale of real estate 20,466,000 15,463,000
Proceeds from the settlement of property-related insurance claims 0 12,000
Net cash used in investing activities (97,202,000) (102,412,000)
Cash flows from financing activities    
Issuance of common stock in public offerings, net 0 52,903,000
Payment of common stock dividends (15,031,000) (11,650,000)
Payment of OP unit distributions (98,000) (101,000)
Payment of restricted stock dividends (384,000) (92,000)
Principal payments on mortgages payable (39,000) (26,000)
Proceeds under revolving credit facilities 82,000,000 99,000,000
Repayments under revolving credit facilities (87,000,000) (116,000,000)
Proceeds from term loans 100,000,000 0
Repurchase of common stock for tax withholding obligations (1,069,000) (360,000)
Deferred offering costs (423,000) (15,000)
Net cash provided by financing activities 77,956,000 23,659,000
Net change in cash, cash equivalents and restricted cash (7,595,000) (63,947,000)
Cash, cash equivalents and restricted cash at beginning of the period 29,929,000 70,543,000
Cash, cash equivalents and restricted cash at end of the period 22,334,000 6,596,000
Supplemental disclosures of cash flow information:    
Cash paid for interest 6,536,000 3,641,000
Supplemental disclosures of non-cash investing and financing activities:    
Dividends declared and unpaid on restricted stock, net 7,000 122,000
Deferred offering costs included in accounts payable, accrued expenses and other liabilities 107,000 0
Cash flow hedge change in fair value 10,107,000 (5,979,000)
Accrued capital expenditures and real estate development and improvement costs $ 1,110,000 $ 2,516,000