Quarterly report [Sections 13 or 15(d)]

Equity and Mezzanine Equity (Tables)

v3.26.1
Equity and Mezzanine Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three and six months ended June 30, 2026 and 2025 (dollars in thousands):
 
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Senior Common Stock
Balance, beginning of period $ 1  $ 1  $ 1  $ 1 
Issuance of senior common stock, net —  —  —  — 
Balance, end of period $ 1  $ 1  $ 1  $ 1 
Common Stock
Balance, beginning of period $ 48  $ 45  $ 48  $ 44 
Issuance of common stock, net —  1  —  2 
Balance, end of period $ 48  $ 46  $ 48  $ 46 
Series F Preferred Stock
Balance, beginning of period $ 1  $ 1  $ 1  $ 1 
Issuance of Series F preferred stock, net —  —  —  — 
Redemption of Series F preferred stock, net —  —  —  — 
Balance, end of period $ 1  $ 1  $ 1  $ 1 
Additional Paid in Capital
Balance, beginning of period $ 841,256  $ 811,915  $ 841,574  $ 784,389 
Issuance of common stock and Series F preferred stock, net 79  6,912  161  33,883 
Redemption of Series F preferred stock, net (520) 1,812  (918) 2,382 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (3) (5) (5) (20)
Balance, end of period $ 840,812  $ 820,634  $ 840,812  $ 820,634 
Accumulated Other Comprehensive Income
Balance, beginning of period $ 6,028  $ 6,647  $ 3,314  $ 10,648 
Comprehensive income (loss) 3,740  (2,344) 6,467  (6,360)
Reclassification into interest expense —  —  (13) 15 
Balance, end of period $ 9,768  $ 4,303  $ 9,768  $ 4,303 
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (683,857) $ (635,393) $ (673,168) $ (623,912)
Distributions declared to common, senior common, and preferred stockholders (17,659) (17,045) (35,318) (33,653)
Redemption of Series F preferred stock, net (7) 11  (3) 1 
Net income available to the Company 8,266  4,633  15,232  9,770 
Balance, end of period $ (693,257) $ (647,794) $ (693,257) $ (647,794)
Total Stockholders' Equity
Balance, beginning of period $ 163,477  $ 183,216  $ 171,770  $ 171,171 
Issuance of common stock and Series F preferred stock, net 79  6,913  161  33,885 
Redemption of Series F preferred stock, net (527) 1,823  (921) 2,383 
Distributions declared to common, senior common, and preferred stockholders (17,659) (17,045) (35,318) (33,653)
Comprehensive income (loss) 3,740  (2,344) 6,467  (6,360)
Reclassification into interest expense —  —  (13) 15 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (3) (5) (5) (20)
Net income available to the Company 8,266  4,633  15,232  9,770 
Balance, end of period $ 157,373  $ 177,191  $ 157,373  $ 177,191 
Non-Controlling Interest
Balance, beginning of period $ 115  $ 136  $ 122  $ 130 
Distributions declared to Non-controlling OP Unit holders (11) (12) (23) (23)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 3  5  5  20 
Net income available to OP Units held by Non-controlling OP Unitholders 4  1  7  3 
Balance, end of period $ 111  $ 130  $ 111  $ 130 
Total Equity $ 157,484  $ 177,321  $ 157,484  $ 177,321 
Schedule of Distributions Per Share
We paid the following distributions per share for the three and six months ended June 30, 2026 and 2025:

For the three months ended June 30, For the six months ended June 30,
2026 2025 2026 2025
Common Stock and Non-controlling OP Units $ 0.30  $ 0.30  $ 0.60  $ 0.60 
Senior Common Stock 0.2625  0.2625  0.5250  0.5250 
Series E Preferred Stock 0.414063  0.414063  0.828126  0.828126 
Series F Preferred Stock 0.375  0.375  0.750  0.750 
Series G Preferred Stock 0.375  0.375  0.750  0.750