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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 Joint Ventures
Total
Beginning Balance at Dec. 31, 2023 $ 20,323,000 $ 326,379,000 $ 844,000 $ (40,843,000) $ 1,042,000 $ 307,745,000
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,642,000)   (9,642,000)
Shares issued through dividend reinvestment plan 66,000 1,369,000       1,435,000
Restricted stock 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 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, 2024 20,698,000 335,539,000 208,000 (49,020,000) 1,150,000 308,575,000
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,804,000)   (9,804,000)
Shares issued through dividend reinvestment plan 7,000 180,000       187,000
Restricted stock vesting 139,000 (139,000)        
Compensation expense - restricted stock and RSUs   1,346,000       1,346,000
Distributions to non-controlling interests         (63,000) (63,000)
Net income       4,155,000 14,000 4,169,000
Other comprehensive loss     (78,000)     (78,000)
Ending Balance at Mar. 31, 2025 $ 20,844,000 $ 336,926,000 $ 130,000 $ (54,669,000) $ 1,101,000 $ 304,332,000