XML 18 R5.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Cumulative-effect adjustment upon adoption of ASU 2016-13
Total Stockholders’ Equity
Total Stockholders’ Equity
Cumulative-effect adjustment upon adoption of ASU 2016-13
Common Stock
Preferred Stock
Additional Paid-in Capital
Distributions in Excess of Earnings
Distributions in Excess of Earnings
Cumulative-effect adjustment upon adoption of ASU 2016-13
Non-controlling Interests
Series A1 Preferred Stock
Series A1 Preferred Stock
Total Stockholders’ Equity
Series A1 Preferred Stock
Preferred Stock
Series A1 Preferred Stock
Additional Paid-in Capital
Series A1 Preferred Stock
Distributions in Excess of Earnings
Series D Preferred Stock
Series D Preferred Stock
Total Stockholders’ Equity
Series D Preferred Stock
Preferred Stock
Series D Preferred Stock
Distributions in Excess of Earnings
Series A Preferred Stock
Series A Preferred Stock
Total Stockholders’ Equity
Series A Preferred Stock
Preferred Stock
Series A Preferred Stock
Additional Paid-in Capital
Series A Preferred Stock
Distributions in Excess of Earnings
Beginning balance (in shares) at Dec. 31, 2022         22,737,853                                      
Beginning balance at Dec. 31, 2022 $ 362,033 $ (619) $ 361,660 $ (619) $ 23 $ 337,762 $ 861,721 $ (837,846) $ (619) $ 373     $ 147,514         $ 1,200       $ 189,048    
Beginning balance (in shares) at Dec. 31, 2022           13,570,353             5,956,147         48,857       7,565,349    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Acquisition of non-controlling interests 5,002                 5,002                            
Stock-based compensation expense 55   55       55                                  
Common dividends ($0.085 per share) (1,933)   (1,933)         (1,933)                                
Issuance of Series A1 Preferred Stock (in shares)                         1,032,433                      
Issuance of Series A1 Preferred Stock                     $ 23,278 $ 23,278 $ 25,569 $ (2,291)                    
Redemption of preferred stock (in shares)                         (12,870)                 (189,753)    
Redemption of preferred stock                     (302) (302) $ (319) 28 $ (11)         $ (4,682) $ (4,682) $ (4,723) $ 403 $ (362)
Dividends to holders of Preferred Stock                     (2,559) (2,559)     (2,559) $ (17) $ (17)   $ (17) (2,810) (2,810)     (2,810)
Reclassification of Series A Preferred stock to permanent equity (in shares)                                           389,325    
Reclassification of Series A Preferred stock to permanent equity                                       8,812 8,812 $ 9,699 (887)  
Net loss (7,576)   (6,951)         (6,951)   (625)                            
Ending balance (in shares) at Mar. 31, 2023         22,737,853                                      
Ending balance at Mar. 31, 2023 378,682   373,932   $ 23 $ 367,988 859,029 (853,108)   4,750     $ 172,764         $ 1,200       $ 194,024    
Ending balance (in shares) at Mar. 31, 2023           14,789,488             6,975,710         48,857       7,764,921    
Beginning balance (in shares) at Dec. 31, 2022         22,737,853                                      
Beginning balance at Dec. 31, 2022 362,033 $ (619) 361,660 $ (619) $ 23 $ 337,762 861,721 (837,846) $ (619) 373     $ 147,514         $ 1,200       $ 189,048    
Beginning balance (in shares) at Dec. 31, 2022           13,570,353             5,956,147         48,857       7,565,349    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Reclassification of Series A Preferred stock to permanent equity 15,616                                              
Net loss (25,937)                                              
Ending balance (in shares) at Jun. 30, 2023         22,737,853                                      
Ending balance at Jun. 30, 2023 381,322   377,574   $ 23 $ 400,170 856,235 (878,854)   3,748     $ 202,069         $ 1,190       $ 196,911    
Ending balance (in shares) at Jun. 30, 2023           16,090,504             8,160,099         48,447       7,881,958    
Beginning balance (in shares) at Mar. 31, 2023         22,737,853                                      
Beginning balance at Mar. 31, 2023 378,682   373,932   $ 23 $ 367,988 859,029 (853,108)   4,750     $ 172,764         $ 1,200       $ 194,024    
Beginning balance (in shares) at Mar. 31, 2023           14,789,488             6,975,710         48,857       7,764,921    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Stock-based compensation expense 37   37       37                                  
Common dividends ($0.085 per share) (1,933)   (1,933)         (1,933)                                
Issuance of Series A1 Preferred Stock (in shares)                         1,195,589                      
Issuance of Series A1 Preferred Stock                     26,985 26,985 $ 29,582 (2,597)                    
Redemption of preferred stock (in shares)                         (11,200)         (410)       (183,809)    
Redemption of preferred stock                     (278) (278) $ (277) 23 (24) (10) 10 $ (10)   (4,465) (4,465) $ (4,575) 401 (291)
Dividends to holders of Preferred Stock                     $ (3,373) (3,373)     (3,373) $ (17) (17)   (17) (2,749) (2,749)     (2,749)
Reclassification of Series A Preferred stock to permanent equity (in shares)                                           300,846    
Reclassification of Series A Preferred stock to permanent equity                                       $ 6,804 6,804 $ 7,462 (658)  
Net loss (18,361)   (17,359)         (17,359)   (1,002)                            
Ending balance (in shares) at Jun. 30, 2023         22,737,853                                      
Ending balance at Jun. 30, 2023 381,322   377,574   $ 23 $ 400,170 856,235 (878,854)   3,748     $ 202,069         $ 1,190       $ 196,911    
Ending balance (in shares) at Jun. 30, 2023           16,090,504             8,160,099         48,447       7,881,958    
Beginning balance (in shares) at Dec. 31, 2023         22,786,741                                      
Beginning balance at Dec. 31, 2023 376,769   374,403   $ 23 $ 443,829 852,476 (921,925)   2,366     $ 256,935         $ 1,190       $ 185,704    
Beginning balance (in shares) at Dec. 31, 2023           17,858,629         10,378,343   10,378,343     48,447   48,447   7,431,839   7,431,839    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Stock-based compensation expense 55   55       55                                  
Common dividends ($0.085 per share) (1,937)   (1,937)         (1,937)                                
Issuance of Series A1 Preferred Stock (in shares)                         853,879                      
Issuance of Series A1 Preferred Stock                     $ 19,066 19,066 $ 21,246 (2,180)                    
Redemption of preferred stock (in shares)                         (24,046)                 (389,506)    
Redemption of preferred stock                     (567) (567) $ (595) 52 (24)         $ (9,643) (9,643) $ (9,698) 831 (776)
Dividends to holders of Preferred Stock                     $ (5,251) (5,251)     (5,251) $ (17) (17)   (17) $ (2,491) (2,491)     (2,491)
Net loss (3,905)   (3,730)         (3,730)   (175)                            
Ending balance (in shares) at Mar. 31, 2024         22,786,741                                      
Ending balance at Mar. 31, 2024 372,079   369,888   $ 23 $ 454,782 851,234 (936,151)   2,191     $ 277,586         $ 1,190       $ 176,006    
Ending balance (in shares) at Mar. 31, 2024           18,298,956             11,208,176         48,447       7,042,333    
Beginning balance (in shares) at Dec. 31, 2023         22,786,741                                      
Beginning balance at Dec. 31, 2023 376,769   374,403   $ 23 $ 443,829 852,476 (921,925)   2,366     $ 256,935         $ 1,190       $ 185,704    
Beginning balance (in shares) at Dec. 31, 2023           17,858,629         10,378,343   10,378,343     48,447   48,447   7,431,839   7,431,839    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Reclassification of Series A Preferred stock to permanent equity 0                                              
Net loss $ (4,757)                                              
Ending balance (in shares) at Jun. 30, 2024 22,786,741       22,786,741                                      
Ending balance at Jun. 30, 2024 $ 353,161   351,069   $ 23 $ 446,829 851,979 (947,762)   2,092     $ 276,795         $ 1,190       $ 168,844    
Ending balance (in shares) at Jun. 30, 2024           17,979,480         11,176,174   11,176,174     48,447   48,447   6,754,859   6,754,859    
Beginning balance (in shares) at Mar. 31, 2024         22,786,741                                      
Beginning balance at Mar. 31, 2024 372,079   369,888   $ 23 $ 454,782 851,234 (936,151)   2,191     $ 277,586         $ 1,190       $ 176,006    
Beginning balance (in shares) at Mar. 31, 2024           18,298,956             11,208,176         48,447       7,042,333    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                
Distributions to noncontrolling interests (43)                 (43)                            
Stock-based compensation expense 55   55       55                                  
Common dividends ($0.085 per share) (1,937)   (1,937)         (1,937)                                
Redemption of preferred stock (in shares)                         (32,002)                 (287,474)    
Redemption of preferred stock                     $ (738) (738) $ (791) $ 69 (16)         $ (7,099) (7,099) $ (7,162) $ 621 (558)
Dividends to holders of Preferred Stock                     (5,491) (5,491)     (5,491) $ (17) $ (17)   $ (17) $ (2,368) $ (2,368)     $ (2,368)
Redeemable preferred stock accretion                     $ (428) $ (428)     $ (428)                  
Net loss $ (852)   (796)         (796)   (56)                            
Ending balance (in shares) at Jun. 30, 2024 22,786,741       22,786,741                                      
Ending balance at Jun. 30, 2024 $ 353,161   $ 351,069   $ 23 $ 446,829 $ 851,979 $ (947,762)   $ 2,092     $ 276,795         $ 1,190       $ 168,844    
Ending balance (in shares) at Jun. 30, 2024           17,979,480         11,176,174   11,176,174     48,447   48,447   6,754,859   6,754,859