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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, 2023 $ 20,323 $ 326,379 $ 844 $ (40,843) $ 1,042 $ 307,745
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,642)   (9,642)
Shares issued through dividend reinvestment plan 66 1,369       1,435
Restricted stock and restricted stock unit vesting 137 (137)        
Compensation expense - restricted stock and RSUs   1,272       1,272
Contributions to non-controlling interests         43 43
Distributions to non-controlling interests         (94) (94)
Net income       5,155 225 5,380
Other comprehensive loss     (89)     (89)
Ending Balance at Mar. 31, 2024 20,526 328,883 755 (45,330) 1,216 306,050
Beginning Balance at Dec. 31, 2023 20,323 326,379 844 (40,843) 1,042 307,745
Increase (Decrease) in Stockholders' Equity            
Net income           20,246
Ending Balance at Sep. 30, 2024 20,653 333,083 271 (49,830) 1,143 305,320
Beginning Balance at Mar. 31, 2024 20,526 328,883 755 (45,330) 1,216 306,050
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,534)   (9,534)
Shares issued through dividend reinvestment plan 67 1,396       1,463
Compensation expense - restricted stock and RSUs   1,167       1,167
Distributions to non-controlling interests         (202) (202)
Net income       9,553 124 9,677
Other comprehensive loss     (188)     (188)
Ending Balance at Jun. 30, 2024 20,593 331,446 567 (45,311) 1,138 308,433
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,696)   (9,696)
Shares issued through dividend reinvestment plan 21 428       449
Restricted stock and restricted stock unit vesting 39 (39)        
Compensation expense - restricted stock and RSUs   1,248       1,248
Distributions to non-controlling interests         (7) (7)
Net income       5,177 12 5,189
Other comprehensive loss     (296)     (296)
Ending Balance at Sep. 30, 2024 20,653 333,083 271 (49,830) 1,143 305,320
Beginning Balance at Dec. 31, 2024 20,698 335,539 208 (49,020) 1,150 308,575
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,804)   (9,804)
Shares issued through dividend reinvestment plan 7 180       187
Restricted stock and restricted stock unit vesting 139 (139)        
Compensation expense - restricted stock and RSUs   1,346       1,346
Distributions to non-controlling interests         (63) (63)
Net income       4,155 14 4,169
Other comprehensive loss     (78)     (78)
Ending Balance at Mar. 31, 2025 20,844 336,926 130 (54,669) 1,101 304,332
Beginning Balance at Dec. 31, 2024 20,698 335,539 208 (49,020) 1,150 308,575
Increase (Decrease) in Stockholders' Equity            
Net income           24,692
Ending Balance at Sep. 30, 2025 20,898 339,935 45 (55,302) 196 305,772
Beginning Balance at Mar. 31, 2025 20,844 336,926 130 (54,669) 1,101 304,332
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,701)   (9,701)
Shares issued through dividend reinvestment plan 8 181       189
Restricted stock and restricted stock unit vesting 2 (2)        
Compensation expense - restricted stock and RSUs   1,296       1,296
Distributions to non-controlling interests         (1,712) (1,712)
Net income       8,431 987 9,418
Other comprehensive loss     (58)     (58)
Ending Balance at Jun. 30, 2025 20,854 338,401 72 (55,939) 376 303,764
Increase (Decrease) in Stockholders' Equity            
Cash distributions - common stock       (9,841)   (9,841)
Shares issued through dividend reinvestment plan 7 172       179
Restricted stock and restricted stock unit vesting 37 (37)        
Compensation expense - restricted stock and RSUs   1,399       1,399
Distributions to non-controlling interests         (807) (807)
Net income       10,478 627 11,105
Other comprehensive loss     (27)     (27)
Ending Balance at Sep. 30, 2025 $ 20,898 $ 339,935 $ 45 $ (55,302) $ 196 $ 305,772