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SUBSEQUENT EVENTS
 6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Repurchase Program
On July 11, 2025, our Board of Directors approved a share repurchase program authorizing us to repurchase up to $20.0 million of our Series B Preferred Stock and up to $35.0 million of our Series C Preferred Stock (collectively, the “2025 Repurchase Program”). The Board’s authorization of the 2025 Repurchase Program may be suspended at any time, does not obligate us to acquire any particular amount of securities, and expires on July 10, 2026. Under the 2025 Repurchase Program, repurchases are intended to be implemented through open market transactions on U.S. exchanges and/or privately-negotiated transactions facilitated by a third-party broker acting as agent for us in accordance with applicable securities laws. Any repurchases will be made during applicable trading window periods or pursuant to Rule 10b5-1 trading plans.
Financing Activity
Debt Activity—Loan Repayments
Subsequent to June 30, 2025, we repaid a $10.4 million bond upon maturity. The bond bore interest at a stated rate of 4.45%.
Distributions
On July 10, 2025, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:
IssuanceRecord DatePayment DateDistribution per Share
Series B Preferred Stock:July 21, 2025July 31, 2025$0.125 
August 20, 2025August 29, 20250.125 
September 22, 2025September 30, 20250.125 
Total Series B Preferred Stock Distributions:$0.375 
Series C Preferred Stock:July 21, 2025July 31, 2025$0.125 
August 20, 2025August 29, 20250.125 
September 22, 2025September 30, 20250.125 
Total Series C Preferred Stock Distributions:$0.375 
Series D Term Preferred Stock:July 21, 2025July 31, 2025$0.104167 
August 20, 2025August 29, 20250.104167 
September 22, 2025September 30, 20250.104167 
Total Series D Term Preferred Stock Distributions:$0.312501 
Series E Preferred Stock:July 25, 2025August 4, 2025$0.104167 
August 27, 2025September 5, 20250.104167 
September 24, 2025October 3, 20250.104167 
Total Series E Preferred Stock Distributions:$0.312501 
Common Stock:July 21, 2025July 31, 2025$0.0467 
August 20, 2025August 29, 20250.0467 
September 22, 2025September 30, 20250.0467 
Total Common Stock Distributions$0.1401