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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
Contributions to non-controlling interests         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, 2023 20,323,000 326,379,000 844,000 (40,843,000) 1,042,000 307,745,000
Increase (Decrease) in Stockholders' Equity            
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
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (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 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
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
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            
Net income           13,587,000
Ending Balance at Jun. 30, 2025 20,854,000 338,401,000 72,000 (55,939,000) 376,000 303,764,000
Beginning Balance at Mar. 31, 2025 20,844,000 336,926,000 130,000 (54,669,000) 1,101,000 304,332,000
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,701,000)   (9,701,000)
Shares issued through dividend reinvestment plan 8,000 181,000       189,000
Restricted stock vesting 2,000 (2,000)        
Compensation expense - restricted stock and RSUs   1,296,000       1,296,000
Distributions to non-controlling interests         (1,712,000) (1,712,000)
Net income       8,431,000 987,000 9,418,000
Other comprehensive loss     (58,000)     (58,000)
Ending Balance at Jun. 30, 2025 $ 20,854,000 $ 338,401,000 $ 72,000 $ (55,939,000) $ 376,000 $ 303,764,000