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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Common Stock
Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Distributions in Excess of Net Income
Non-Controlling Interests in Consolidated Joint Ventures
Total
Beginning Balance at Dec. 31, 2021 $ 20,239 $ 322,793 $ (1,513) $ (36,187) $ 946 $ 306,278
Distributions - common stock            
Cash       (9,559)   (9,559)
Restricted stock and restricted stock unit vesting 131 (131)        
Shares issued through equity offering program - net 17 546       563
Shares issued through dividend reinvestment plan 5 156       161
Distributions to non-controlling interests         (33) (33)
Compensation expense - restricted stock and RSUs   1,325       1,325
Net income       9,323 17 9,340
Other comprehensive income (loss)     1,773   2 1,775
Ending Balance at Mar. 31, 2022 20,392 324,689 260 (36,423) 932 309,850
Beginning Balance at Dec. 31, 2021 20,239 322,793 (1,513) (36,187) 946 306,278
Distributions - common stock            
Net income           33,346
Ending Balance at Sep. 30, 2022 20,311 323,576 1,855 (31,450) 959 315,251
Beginning Balance at Mar. 31, 2022 20,392 324,689 260 (36,423) 932 309,850
Distributions - common stock            
Cash       (9,494)   (9,494)
Restricted stock and restricted stock unit vesting 16 (16)        
Repurchases of common stock - net (133) (3,285)       (3,418)
Shares issued through equity offering program - net 6 157       163
Distributions to non-controlling interests         (8) (8)
Compensation expense - restricted stock and RSUs   1,559       1,559
Net income       16,767 18 16,785
Other comprehensive income (loss)     665     665
Ending Balance at Jun. 30, 2022 20,281 323,104 925 (29,150) 942 316,102
Distributions - common stock            
Cash       (9,504)   (9,504)
Restricted stock and restricted stock unit vesting 65 (65)        
Repurchases of common stock - net (75) (1,747)       (1,822)
Shares issued through equity offering program - net 40 978       1,018
Distributions to non-controlling interests         (1) (1)
Compensation expense - restricted stock and RSUs   1,306       1,306
Net income       7,204 17 7,221
Other comprehensive income (loss)     930   1 931
Ending Balance at Sep. 30, 2022 20,311 323,576 1,855 (31,450) 959 315,251
Beginning Balance at Dec. 31, 2022 20,362 325,895 1,810 (32,102) 972 316,937
Distributions - common stock            
Cash       (9,628)   (9,628)
Restricted stock and restricted stock unit vesting 135 (135)        
Shares issued through dividend reinvestment plan 49 1,025       1,074
Distributions to non-controlling interests         (9) (9)
Compensation expense - restricted stock and RSUs   1,328       1,328
Net income       5,386 22 5,408
Other comprehensive income (loss)     (409)     (409)
Ending Balance at Mar. 31, 2023 20,546 328,113 1,401 (36,344) 985 314,701
Beginning Balance at Dec. 31, 2022 20,362 325,895 1,810 (32,102) 972 316,937
Distributions - common stock            
Net income           14,716
Ending Balance at Sep. 30, 2023 20,409 326,635 1,337 (46,274) 1,010 303,117
Beginning Balance at Mar. 31, 2023 20,546 328,113 1,401 (36,344) 985 314,701
Distributions - common stock            
Cash       (9,626)   (9,626)
Restricted stock and restricted stock unit vesting 17 (17)        
Repurchases of common stock - net (73) (1,382)       (1,455)
Shares issued through equity offering program - net 50 1,048       1,098
Distributions to non-controlling interests         (7) (7)
Compensation expense - restricted stock and RSUs   1,564       1,564
Net income       6,519 20 6,539
Other comprehensive income (loss)     142   (1) 141
Ending Balance at Jun. 30, 2023 20,540 329,326 1,543 (39,451) 997 312,955
Distributions - common stock            
Cash       (9,570)   (9,570)
Restricted stock and restricted stock unit vesting 75 (75)        
Repurchases of common stock - net (262) (4,882)       (5,144)
Shares issued through dividend reinvestment plan 56 1,055       1,111
Distributions to non-controlling interests         (8) (8)
Compensation expense - restricted stock and RSUs   1,211       1,211
Net income       2,747 22 2,769
Other comprehensive income (loss)     (206)   (1) (207)
Ending Balance at Sep. 30, 2023 $ 20,409 $ 326,635 $ 1,337 $ (46,274) $ 1,010 $ 303,117