XML 28 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Impact of adoption of new accounting standard
Series D Preferred Stock
Series B Preferred Stock
Series E Preferred Stock
Series M Preferred Stock
Preferred Stock
Series D Preferred Stock
Preferred Stock
Series B Preferred Stock
Preferred Stock
Series E Preferred Stock
Preferred Stock
Series M Preferred Stock
Common Stock
Common Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Impact of adoption of new accounting standard
Accumulated Deficit
Accumulated Deficit
Impact of adoption of new accounting standard
Accumulated Deficit
Series D Preferred Stock
Accumulated Deficit
Series B Preferred Stock
Accumulated Deficit
Series E Preferred Stock
Accumulated Deficit
Series M Preferred Stock
Accumulated Other Comprehensive Income/(loss)
Noncontrolling Interest in Consolidated Entities
Redeemable Noncontrolling Interests in Operating Partnership
Beginning balance (in shares) at Dec. 31, 2021             1,600,000       65,365,000                        
Beginning balance at Dec. 31, 2021 $ 382,298 $ (5,601)         $ 16       $ 653   $ 707,418 $ (6,257) $ (309,240) $ 656         $ 0 $ (16,549) $ 36,087
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Purchase of common stock (in shares)                     (1,773,000)                        
Purchase of common stock (7,465)                   $ (17)   (7,448)                    
Equity-based compensation 5,475                       5,475                    
Issuance of common stock (in shares)                     6,000,000                        
Issuance of common stock 35,004                   $ 60   34,944                    
Issuance of restricted shares/units (in shares)                     349,000                        
Issuance of restricted shares/units 5                   $ 3   2                    
Forfeiture of restricted common shares (in shares)                     (22,000)                        
PSU dividend claw back upon cancellation 7                           7                
Dividends declared - common stock (5,672)                           (5,672)                
Dividends declared - preferred stock     $ (3,300) $ (4,233) $ (12,694) $ (1,276)                     $ (3,300) $ (4,233) $ (12,694) $ (1,276)      
Contributions from noncontrolling interests 164                                         164  
Distributions to noncontrolling interests (2,024)                                         (2,024) (665)
Net income (loss) 19,824                           17,761             2,063  
Redemption value adjustment – preferred stock (6,954)                           (6,954)                
Redemption value adjustment 205                           205                
Ending balance (in shares) at Dec. 31, 2022             1,600,000       69,919,000                        
Ending balance at Dec. 31, 2022 $ 393,763           $ 16       $ 699   734,134   (324,740)           0 (16,346) 40,555
Units outstanding at beginning of year (in shares) at Dec. 31, 2021 7,158,000             3,078,000 1,710,000 29,000                          
Beginning balance, temporary equity at Dec. 31, 2021               $ 65,426 $ 39,339 $ 715                          
Beginning balance at Dec. 31, 2021 $ 382,298 $ (5,601)         16       653   707,418 $ (6,257) (309,240) $ 656         0 (16,549) 36,087
Increase (Decrease) in Temporary Equity [Roll Forward]                                              
Equity-based compensation, redeemable noncontrolling interests                                             5,810
Issuance of preferred stock (in shares)         10,914,000 1,402,000     10,961,000 1,404,000                          
Issuance of preferred stock                 $ 245,827 $ 33,922                          
Distributions to noncontrolling interests $ (2,024)                                         (2,024) (665)
Performance LTIP dividend claw back upon cancellation                                             4
Net income (loss)                                             (476)
Redemption of preferred stock (in shares)         (14,000) (5,000)     (14,000) (5,000)                          
Redemptions of preferred stock         $ (365) $ (134)     $ (365) $ (134)                          
Redemption value adjustment – preferred stock                 $ 6,275 $ 679                          
Redemption value adjustment                                             (205)
Units outstanding at end of year (in shares) at Dec. 31, 2022 8,283,000             3,078,000 12,657,000 1,428,000                          
Ending balance, temporary equity at Dec. 31, 2022               $ 65,426 $ 291,076 $ 35,182                          
Ending balance at Dec. 31, 2022 $ 393,763           $ 16       $ 699   734,134   (324,740)           0 (16,346) 40,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Purchase of common stock (in shares)                     (3,969,000)                        
Purchase of common stock (19,254)                   $ (40)   (19,214)                    
Equity-based compensation 3,564                       3,564                    
Issuance of restricted shares/units (in shares)                     689,000                        
Issuance of restricted shares/units 21                   $ 7   14                    
Forfeiture of restricted common shares (in shares)                       (3,000)                      
Dividends declared - common stock (13,423)                           (13,423)                
Dividends declared - preferred stock     (3,300) $ (4,233) $ (30,883) $ (3,888)                     (3,300) (4,233) (30,883) (3,888)      
Contributions from noncontrolling interests 9,517                                         9,517  
Distributions to noncontrolling interests (3,724)                                         (3,724) (1,444)
Net income (loss) (25,398)                           (27,017)             1,619  
Redemption value adjustment – preferred stock (4,719)                           (4,719)                
Redemption value adjustment 4                           4                
Ending balance (in shares) at Dec. 31, 2023             1,600,000       66,636,000                        
Ending balance at Dec. 31, 2023 298,047           $ 16       $ 666   718,498   (412,199)           0 (8,934) 32,395
Beginning balance at Dec. 31, 2022 393,763           16       699   734,134   (324,740)           0 (16,346) 40,555
Increase (Decrease) in Temporary Equity [Roll Forward]                                              
Equity-based compensation, redeemable noncontrolling interests                                             5,680
Issuance of preferred stock (in shares)         3,798,000 531,000     3,931,000 542,000                          
Issuance of preferred stock                 $ 88,448 $ 13,051                          
Distributions to noncontrolling interests $ (3,724)                                         (3,724) (1,444)
Redemption/conversion of operating partnership units                                             (7,162)
Net income (loss)                                             (5,230)
Redemption of preferred stock (in shares)         (272,000) (137,000)     (272,000) (137,000)                          
Redemptions of preferred stock         $ (6,423) $ (3,395)     $ (6,423) $ (3,395)                          
Redemption value adjustment – preferred stock                 $ 3,934 $ 785                          
Redemption value adjustment                                             (4)
Units outstanding at end of year (in shares) at Dec. 31, 2023 7,224,000     3,078,017 16,316,315 1,832,805   3,078,000 16,316,000 1,833,000                          
Ending balance, temporary equity at Dec. 31, 2023       $ 65,426 $ 377,035 $ 45,623   $ 65,426 $ 377,035 $ 45,623                          
Ending balance at Dec. 31, 2023 $ 298,047           $ 16       $ 666   718,498   (412,199)           0 (8,934) 32,395
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                              
Purchase of common stock (in shares)                     (170,000)                        
Purchase of common stock (369)                   $ (2)   (367)                    
Equity-based compensation 403                       403                    
Issuance of restricted shares/units (in shares)                     143,000                        
Issuance of restricted shares/units 3                   $ 1   2                    
Forfeiture of restricted common shares (in shares)                     (1,000)                        
Dividends declared - common stock (13,401)                           (13,401)                
Dividends declared - preferred stock     $ (3,300) $ (4,233) $ (29,328) $ (3,434)                     $ (3,300) $ (4,233) $ (29,328) $ (3,434)      
Contributions from noncontrolling interests 2,961                                         2,961  
Distributions to noncontrolling interests (23,322)                                         (23,322) (1,397)
Net income (loss) 24,235                           (1,693)             25,928  
Redemption value adjustment – preferred stock (8,958)                           (8,958)                
Redemption value adjustment (1,258)                           (1,258)                
Ending balance (in shares) at Dec. 31, 2024             1,600,000       66,608,000                        
Ending balance at Dec. 31, 2024 237,362           $ 16       $ 665   718,536   (477,804)           (684) (3,367) 29,964
Beginning balance at Dec. 31, 2023 298,047           16       666   718,498   (412,199)           0 (8,934) 32,395
Increase (Decrease) in Temporary Equity [Roll Forward]                                              
Equity-based compensation, redeemable noncontrolling interests                                             2,208
Issuance of preferred stock (in shares)         0 0     130,000 6,000                          
Issuance of preferred stock                 $ 3,260 $ 143                          
Issuance of restricted shares/units 32                                            
Unrealized gain (loss) on investment in securities (684)                                       (684)   (60)
Distributions to noncontrolling interests $ (23,322)                                         (23,322) (1,397)
Net income (loss)                                             (4,472)
Redemption of preferred stock (in shares)         (1,535,000) (362,000)     (1,535,000) (362,000)                          
Redemptions of preferred stock         $ (36,554) $ (9,047)     $ (36,554) $ (9,047)                          
Redemption value adjustment – preferred stock                 $ 8,761 $ 197                          
Redemption value adjustment                                             1,258
Units outstanding at end of year (in shares) at Dec. 31, 2024 7,220,000     3,078,017 14,910,521 1,476,621   3,078,000 14,911,000 1,477,000                          
Ending balance, temporary equity at Dec. 31, 2024       $ 65,426 $ 352,502 $ 36,916   $ 65,426 $ 352,502 $ 36,916                          
Ending balance at Dec. 31, 2024 $ 237,362           $ 16       $ 665   $ 718,536   $ (477,804)           $ (684) $ (3,367) $ 29,964