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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
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, 2022 $ 20,362,000 $ 325,895,000 $ 1,810,000 $ (32,102,000) $ 972,000 $ 316,937,000
Distributions - common stock            
Cash       (9,628,000)   (9,628,000)
Shares issued through dividend reinvestment plan 49,000 1,025,000       1,074,000
Restricted stock vesting and RSU vesting 135,000 (135,000)        
Compensation expense - restricted stock and RSUs   1,328,000       1,328,000
Distributions to non-controlling interests         (9,000) (9,000)
Net income       5,386,000 22,000 5,408,000
Other comprehensive income (loss)     (409,000)     (409,000)
Ending Balance at Mar. 31, 2023 20,546,000 328,113,000 1,401,000 (36,344,000) 985,000 314,701,000
Beginning Balance at Dec. 31, 2022 20,362,000 325,895,000 1,810,000 (32,102,000) 972,000 316,937,000
Distributions - common stock            
Repurchases of common stock - net           (1,455,000)
Net income           11,947,000
Ending Balance at Jun. 30, 2023 20,540,000 329,326,000 1,543,000 (39,451,000) 997,000 312,955,000
Beginning Balance at Mar. 31, 2023 20,546,000 328,113,000 1,401,000 (36,344,000) 985,000 314,701,000
Distributions - common stock            
Cash       (9,626,000)   (9,626,000)
Shares issued through dividend reinvestment plan 50,000 1,048,000       1,098,000
Repurchases of common stock - net (73,000) (1,382,000)       (1,455,000)
Restricted stock vesting and RSU vesting 17,000 (17,000)        
Compensation expense - restricted stock and RSUs   1,564,000       1,564,000
Distributions to non-controlling interests         (7,000) (7,000)
Net income       6,519,000 20,000 6,539,000
Other comprehensive income (loss)     142,000   (1,000) 141,000
Ending Balance at Jun. 30, 2023 20,540,000 329,326,000 1,543,000 (39,451,000) 997,000 312,955,000
Beginning Balance at Dec. 31, 2023 20,323,000 326,379,000 844,000 (40,843,000) 1,042,000 307,745,000
Distributions - common stock            
Cash       (9,642,000)   (9,642,000)
Shares issued through dividend reinvestment plan 66,000 1,369,000       1,435,000
Restricted stock vesting and RSU vesting 137,000 (137,000)        
Compensation expense - restricted stock and RSUs   1,272,000       1,272,000
Contribution from non-controlling interest         43,000 43,000
Distributions to non-controlling interests         (94,000) (94,000)
Net income       5,155,000 225,000 5,380,000
Other comprehensive income (loss)     (89,000)     (89,000)
Ending Balance at Mar. 31, 2024 20,526,000 328,883,000 755,000 (45,330,000) 1,216,000 306,050,000
Beginning Balance at Dec. 31, 2023 20,323,000 326,379,000 844,000 (40,843,000) 1,042,000 307,745,000
Distributions - common stock            
Net income           15,057,000
Ending Balance at Jun. 30, 2024 20,593,000 331,446,000 567,000 (45,311,000) 1,138,000 308,433,000
Beginning Balance at Mar. 31, 2024 20,526,000 328,883,000 755,000 (45,330,000) 1,216,000 306,050,000
Distributions - common stock            
Cash       (9,534,000)   (9,534,000)
Shares issued through dividend reinvestment plan 67,000 1,396,000       1,463,000
Compensation expense - restricted stock and RSUs   1,167,000       1,167,000
Distributions to non-controlling interests         (202,000) (202,000)
Net income       9,553,000 124,000 9,677,000
Other comprehensive income (loss)     (188,000)     (188,000)
Ending Balance at Jun. 30, 2024 $ 20,593,000 $ 331,446,000 $ 567,000 $ (45,311,000) $ 1,138,000 $ 308,433,000