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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 Joint Ventures
Total
Beginning Balance at Dec. 31, 2021 $ 20,239 $ 322,793 $ (1,513) $ (36,187) $ 946 $ 306,278
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (38,092)   (38,092)
Repurchases of common stock - net (208) (5,032)       (5,240)
Shares issued through dividend reinvestment plan 102 2,293       2,395
Shares issued through equity offering program, net 17 546       563
Restricted stock and RSU vesting 212 (212)        
Compensation expense - restricted stock and RSUs   5,507       5,507
Distributions to non-controlling interests         (52) (52)
Net income       42,177 76 42,253
Other comprehensive income (loss)     3,323   2 3,325
Ending Balance at Dec. 31, 2022 20,362 325,895 1,810 (32,102) 972 316,937
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (38,355)   (38,355)
Repurchases of common stock - net (499) (9,139)       (9,638)
Shares issued through dividend reinvestment plan 233 4,483       4,716
Restricted stock and RSU vesting 227 (227)        
Compensation expense - restricted stock and RSUs   5,367       5,367
Distributions to non-controlling interests         (233) (233)
Net income       29,614 304 29,918
Other comprehensive income (loss)     (966)   (1) (967)
Ending Balance at Dec. 31, 2023 20,323 326,379 844 (40,843) 1,042 307,745
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (38,594)   (38,594)
Shares issued through dividend reinvestment plan 161 3,371       3,532
Shares issued through equity offering program, net 38 1,003       1,041
Restricted stock and RSU vesting 176 (176)        
Compensation expense - restricted stock and RSUs   4,962       4,962
Contribution from non-controlling interest         43 43
Distributions to non-controlling interests         (316) (316)
Net income       30,417 381 30,798
Other comprehensive income (loss)     (636)     (636)
Ending Balance at Dec. 31, 2024 $ 20,698 $ 335,539 $ 208 $ (49,020) $ 1,150 $ 308,575