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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 65,043,000 $ 64,776,000 $ 129,549,000 $ 132,673,000
EXPENSES        
Property operating expenses, excluding real estate taxes 18,108,000 17,872,000 36,872,000 39,214,000
Real estate taxes 7,081,000 7,174,000 13,386,000 14,755,000
Property management expense 2,222,000 2,247,000 4,552,000 4,815,000
Casualty loss 510,000 53,000 1,330,000 305,000
Depreciation and amortization 25,714,000 24,371,000 52,726,000 50,364,000
General and administrative expenses 4,216,000 4,162,000 8,839,000 11,885,000
TOTAL EXPENSES 57,851,000 55,879,000 117,705,000 121,338,000
Gain (loss) on sale of real estate and other investments 0 (67,000) (577,000) 60,092,000
Loss on litigation settlement 0 (2,864,000) 0 (2,864,000)
Operating income 7,192,000 5,966,000 11,267,000 68,563,000
Interest expense (9,332,000) (8,641,000) (18,539,000) (18,960,000)
Interest and other income 477,000 295,000 817,000 344,000
Net income (loss) (1,663,000) (2,380,000) (6,455,000) 49,947,000
Dividends to Series D preferred unitholders (160,000) (160,000) (320,000) (320,000)
Net (income) loss attributable to noncontrolling interests – Operating Partnership and Series E preferred units 561,000 712,000 1,640,000 (7,854,000)
Net income attributable to noncontrolling interests – consolidated real estate entities (34,000) (35,000) (66,000) (65,000)
Net income (loss) attributable to controlling interests (1,296,000) (1,863,000) (5,201,000) 41,708,000
Dividends to preferred shareholders (1,607,000) (1,607,000) (3,214,000) (3,214,000)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (2,903,000) $ (3,470,000) $ (8,415,000) $ 38,494,000
NET INCOME (LOSS) PER COMMON SHARE – BASIC (in dollars per share) $ (0.19) $ (0.23) $ (0.56) $ 2.57
NET INCOME (LOSS) PER COMMON SHARE – DILUTED (in dollars per share) $ (0.19) $ (0.23) $ (0.56) $ 2.55
Weighted average shares - basic (in shares) 14,972 14,949 14,947 14,987
Weighted average shares - diluted (in shares) 14,972 14,949 14,947 18,313