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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
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
Additional Paid-in Capital
Accumulated Deficit
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
Preferred stock, beginning balance (in shares) at Dec. 31, 2023           1,600,000                          
Common stock, beginning balance (in shares) at Dec. 31, 2023                   66,636,000                  
Beginning balance at Dec. 31, 2023 $ 298,047         $ 16       $ 666 $ 718,498 $ (412,199)           $ (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 768                   768                
Issuance of restricted shares/units (in shares)                   57,000                  
Issuance of restricted shares/units 3                 $ 1 2                
Forfeiture of restricted common shares (in shares)                   (1,000)                  
Dividends declared - common stock (6,692)                     (6,692)              
Dividends declared - preferred stock   $ (1,650) $ (2,116) $ (15,170) $ (1,800)               $ (1,650) $ (2,116) $ (15,170) $ (1,800)      
Net income (loss) 3,318                     4,364           (1,046)  
Redemption value adjustment – preferred stock (2,024)                     (2,024)              
Redemption value adjustment (15)                     (15)              
Preferred stock, ending balance (in shares) at Jun. 30, 2024           1,600,000                          
Common stock, ending balance (in shares) at Jun. 30, 2024                   66,522,000                  
Ending balance at Jun. 30, 2024 272,300         $ 16       $ 665 718,901 (437,302)           (9,980) 31,579
Units outstanding at beginning of year (in shares) at Dec. 31, 2023             3,078,000 16,316,000 1,833,000                    
Beginning balance, temporary equity at Dec. 31, 2023             $ 65,426 $ 377,035 $ 45,623                    
Beginning balance at Dec. 31, 2023 298,047         16       666 718,498 (412,199)           (8,934) 32,395
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation                                     1,494
Issuance of preferred stock (in shares)               65,000 3,000                    
Issuance of preferred stock               $ 1,637 $ 71                    
Issuance of restricted shares/units 32                                    
Distributions to noncontrolling interests                                     (734)
Net income (loss)                                     (1,623)
Redemption of preferred stock (in shares)       (239,000) (213,000)     (239,000) (213,000)                    
Redemption of preferred stock       $ (5,652) $ (5,322)     $ (5,652) $ (5,322)                    
Redemption value adjustment – preferred stock               $ 1,827 $ 197                    
Redemption value adjustment                                     15
Units outstanding at end of year (in shares) at Jun. 30, 2024             3,078,000 16,142,000 1,623,000                    
Ending balance, temporary equity at Jun. 30, 2024             $ 65,426 $ 374,847 $ 40,569                    
Ending balance at Jun. 30, 2024 272,300         $ 16       $ 665 718,901 (437,302)           (9,980) 31,579
Preferred stock, beginning balance (in shares) at Dec. 31, 2023           1,600,000                          
Common stock, beginning balance (in shares) at Dec. 31, 2023                   66,636,000                  
Beginning balance at Dec. 31, 2023 $ 298,047         $ 16       $ 666 718,498 (412,199)           (8,934) 32,395
Preferred stock, ending balance (in shares) at Dec. 31, 2024   1,600,000       1,600,000                          
Common stock, ending balance (in shares) at Dec. 31, 2024 66,607,823                 66,608,000                  
Ending balance at Dec. 31, 2024 $ 237,362         $ 16       $ 665 718,536 (477,804)         $ (684) (3,367) 29,964
Units outstanding at beginning of year (in shares) at Dec. 31, 2023             3,078,000 16,316,000 1,833,000                    
Beginning balance, temporary equity at Dec. 31, 2023             $ 65,426 $ 377,035 $ 45,623                    
Beginning balance at Dec. 31, 2023 298,047         16       666 718,498 (412,199)           (8,934) 32,395
Units outstanding at end of year (in shares) at Dec. 31, 2024     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
Preferred stock, beginning balance (in shares) at Mar. 31, 2024           1,600,000                          
Common stock, beginning balance (in shares) at Mar. 31, 2024                   66,477,000                  
Beginning balance at Mar. 31, 2024 297,596         $ 16       $ 664 718,606 (412,013)           (9,677) 33,005
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Equity-based compensation 296                   296                
Issuance of restricted shares/units (in shares)                   45,000                  
Issuance of restricted shares/units                   $ 1 (1)                
Dividends declared - common stock (3,347)                     (3,347)              
Dividends declared - preferred stock   $ (825) (1,058) $ (7,570) $ (876)               (825) (1,058) (7,570) (876)      
Net income (loss) (11,868)                     (11,565)           (303)  
Redemption value adjustment – preferred stock (26)                     (26)              
Redemption value adjustment (22)                     (22)              
Preferred stock, ending balance (in shares) at Jun. 30, 2024           1,600,000                          
Common stock, ending balance (in shares) at Jun. 30, 2024                   66,522,000                  
Ending balance at Jun. 30, 2024 272,300         $ 16       $ 665 718,901 (437,302)           (9,980) 31,579
Units outstanding at beginning of year (in shares) at Mar. 31, 2024             3,078,000 16,163,000 1,748,000                    
Beginning balance, temporary equity at Mar. 31, 2024             $ 65,426 $ 375,261 $ 43,694                    
Beginning balance at Mar. 31, 2024 297,596         16       664 718,606 (412,013)           (9,677) 33,005
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation                                     839
Issuance of preferred stock (in shares)               32,000 1,000                    
Issuance of preferred stock               $ 809 $ 34                    
Distributions to noncontrolling interests                                     (368)
Net income (loss)                                     (1,919)
Redemption of preferred stock (in shares)       (53,000) (126,000)     (53,000) (126,000)                    
Redemption of preferred stock       $ (1,249) $ (3,159)     $ (1,249) $ (3,159)                    
Redemption value adjustment – preferred stock               $ 26                      
Redemption value adjustment                                     22
Units outstanding at end of year (in shares) at Jun. 30, 2024             3,078,000 16,142,000 1,623,000                    
Ending balance, temporary equity at Jun. 30, 2024             $ 65,426 $ 374,847 $ 40,569                    
Ending balance at Jun. 30, 2024 $ 272,300         $ 16       $ 665 718,901 (437,302)           (9,980) 31,579
Preferred stock, beginning balance (in shares) at Dec. 31, 2024   1,600,000       1,600,000                          
Common stock, beginning balance (in shares) at Dec. 31, 2024 66,607,823                 66,608,000                  
Beginning balance at Dec. 31, 2024 $ 237,362         $ 16       $ 665 718,536 (477,804)         (684) (3,367) 29,964
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Purchase of common stock (in shares)                   (312,000)                  
Purchase of common stock (752)                 $ (2) (750)                
Equity-based compensation (68)                   (68)                
Issuance of restricted shares/units (in shares)                   1,000                  
Issuance of restricted shares/units 4                   4                
Dividends declared - common stock (6,802)                     (6,802)              
Dividends declared - preferred stock   $ (1,650) $ (2,116) $ (12,970) $ (1,525)               (1,650) (2,116) (12,970) (1,525)      
Contributions from noncontrolling interests 2,120                                 2,120  
Redemption/conversion of operating partnership units (in shares)                   1,922,000                  
Redemption/conversion of operating partnership units 9,299                 $ 19 9,280               9,299
Net income (loss) 5,582                     5,531           51  
Unrealized gain (loss) on investment in securities 549                               549   50
Redemption value adjustment – preferred stock (5,835)                     (5,835)              
Redemption value adjustment $ 734                     734              
Preferred stock, ending balance (in shares) at Jun. 30, 2025   1,600,000       1,600,000                          
Common stock, ending balance (in shares) at Jun. 30, 2025 68,219,432                 68,219,000                  
Ending balance at Jun. 30, 2025 $ 221,807         $ 16       $ 682 727,002 (502,437)         (135) (3,321) 17,994
Units outstanding at beginning of year (in shares) at Dec. 31, 2024     3,078,017 14,910,521 1,476,621   3,078,000 14,911,000 1,477,000                    
Beginning balance, temporary equity at Dec. 31, 2024     $ 65,426 $ 352,502 $ 36,916   $ 65,426 $ 352,502 $ 36,916                    
Beginning balance at Dec. 31, 2024 237,362         16       665 718,536 (477,804)         (684) (3,367) 29,964
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation                                     (27)
Issuance of preferred stock (in shares)               61,000 2,000                    
Issuance of preferred stock               $ 1,523 $ 79                    
Issuance of restricted shares/units                                     498
Distributions to noncontrolling interests (2,125)                                 (2,125) (615)
Redemption/conversion of operating partnership units 9,299                 19 9,280               9,299
Redemption of operating partnership units for cash                                     (92)
Net income (loss)                                     (1,751)
Unrealized gain (loss) on investment in securities 549                               549   50
Redemption of preferred stock (in shares)       (1,581,000) (59,000)     (1,581,000) (59,000)                    
Redemption of preferred stock       $ (39,275) $ (1,471)     $ (39,275) $ (1,471)                    
Redemption value adjustment – preferred stock               $ 5,835                      
Redemption value adjustment                                     (734)
Units outstanding at end of year (in shares) at Jun. 30, 2025     3,078,017 13,391,250 1,420,421   3,078,000 13,391,000 1,420,000                    
Ending balance, temporary equity at Jun. 30, 2025     $ 65,426 $ 320,585 $ 35,524   $ 65,426 $ 320,585 $ 35,524                    
Ending balance at Jun. 30, 2025 221,807         $ 16       $ 682 727,002 (502,437)         (135) (3,321) 17,994
Preferred stock, beginning balance (in shares) at Mar. 31, 2025           1,600,000                          
Common stock, beginning balance (in shares) at Mar. 31, 2025                   67,047,000                  
Beginning balance at Mar. 31, 2025 235,477         $ 16       $ 669 720,703 (482,575)         95 (3,431) 26,430
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Purchase of common stock (in shares)                   (293,000)                  
Purchase of common stock (701)                 $ (2) (699)                
Equity-based compensation (35)                   (35)                
Dividends declared - common stock (3,430)                     (3,430)              
Dividends declared - preferred stock   $ (825) $ (1,058) $ (6,354) $ (755)               $ (825) $ (1,058) $ (6,354) $ (755)      
Contributions from noncontrolling interests 2,120                                 2,120  
Redemption/conversion of operating partnership units (in shares)                   1,465,000                  
Redemption/conversion of operating partnership units 7,048                 $ 15 7,033               7,048
Net income (loss) (5,352)                     (5,467)           115  
Unrealized gain (loss) on investment in securities (230)                               (230)   (30)
Redemption value adjustment – preferred stock (1,559)                     (1,559)              
Redemption value adjustment $ (414)                     (414)              
Preferred stock, ending balance (in shares) at Jun. 30, 2025   1,600,000       1,600,000                          
Common stock, ending balance (in shares) at Jun. 30, 2025 68,219,432                 68,219,000                  
Ending balance at Jun. 30, 2025 $ 221,807         $ 16       $ 682 727,002 (502,437)         (135) (3,321) 17,994
Units outstanding at beginning of year (in shares) at Mar. 31, 2025             3,078,000 13,910,000 1,459,000                    
Beginning balance, temporary equity at Mar. 31, 2025             $ 65,426 $ 331,875 $ 36,489                    
Beginning balance at Mar. 31, 2025 235,477         16       669 720,703 (482,575)         95 (3,431) 26,430
Increase (Decrease) in Temporary Equity [Roll Forward]                                      
Equity-based compensation                                     (12)
Issuance of preferred stock (in shares)               29,000 1,000                    
Issuance of preferred stock               $ 725 $ 40                    
Distributions to noncontrolling interests (2,125)                                 (2,125) (271)
Redemption/conversion of operating partnership units 7,048                 15 7,033               7,048
Net income (loss)                                     (1,489)
Unrealized gain (loss) on investment in securities (230)                               (230)   (30)
Redemption of preferred stock (in shares)       (548,000) (40,000)     (548,000) (40,000)                    
Redemption of preferred stock       $ (13,574) $ (1,005)     $ (13,574) $ (1,005)                    
Redemption value adjustment – preferred stock               $ 1,559                      
Redemption value adjustment                                     414
Units outstanding at end of year (in shares) at Jun. 30, 2025     3,078,017 13,391,250 1,420,421   3,078,000 13,391,000 1,420,000                    
Ending balance, temporary equity at Jun. 30, 2025     $ 65,426 $ 320,585 $ 35,524   $ 65,426 $ 320,585 $ 35,524                    
Ending balance at Jun. 30, 2025 $ 221,807         $ 16       $ 682 $ 727,002 $ (502,437)         $ (135) $ (3,321) $ 17,994