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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Shares
Paid-in Capital
Accumulated Distributions in Excess of Earnings
Total Beneficial Interest
Noncontrolling Interest in Operating Partnership
Noncontrolling Interest in Partially Owned Properties
Accumulated Other Comprehensive Income (Loss)
Total
Beginning Balance at Dec. 31, 2017 $ 8,488 $ 113,995 $ (23,179) $ 90,816 $ 179,844 $ 3,180 $ (65) $ 273,775
Contribution of assets in exchange for the issuance of noncontrolling interest shares         1,546     1,546
Shares/units redeemed   (614)   (614) (316)     (930)
Shares/units redeemed (in shares) (35,000)              
Dividends declared     (2,190) (2,190) (4,473)     (6,663)
Dividends reinvested - stock dividend   1,373   1,373       1,373
Dividends reinvested - stock dividend (in shares) 79,000              
Issuance of shares under optional purchase plan   1,411   1,411       1,411
Issuance of shares under optional purchase plan (in shares) 76,000              
Change in fair value of interest rate swaps             14 14
Net income     1,741 1,741 3,536 (19)   5,258
Ending balance at Mar. 31, 2018   116,165 (23,628) 92,537 180,137 3,161 (51) 275,784
Ending balance (in shares) at Mar. 31, 2018 8,608,000              
Beginning Balance at Dec. 31, 2017 $ 8,488 113,995 (23,179) 90,816 179,844 3,180 (65) $ 273,775
Dividends reinvested - stock dividend (in shares)               243,000
Change in fair value of interest rate swaps               $ 32
Net income               17,321
Ending balance at Sep. 30, 2018   120,289 (24,037) 96,252 179,195 2,576 (33) 277,990
Ending balance (in shares) at Sep. 30, 2018 8,837,000              
Beginning Balance at Mar. 31, 2018   116,165 (23,628) 92,537 180,137 3,161 (51) 275,784
Beginning Balance (in shares) at Mar. 31, 2018 8,608,000              
Shares/units redeemed   (244)   (244) (489)     (733)
Shares/units redeemed (in shares) (14,000)              
Dividends declared     (2,217) (2,217) (4,465)     (6,682)
Dividends reinvested - stock dividend   1,425   1,425       1,425
Dividends reinvested - stock dividend (in shares) 81,000              
Issuance of shares under optional purchase plan   747   747       747
Issuance of shares under optional purchase plan (in shares) 40,000              
Change in fair value of interest rate swaps             10 10
Net income     1,677 1,677 3,376 (74)   4,979
Ending balance at Jun. 30, 2018   118,093 (24,168) 93,925 178,559 3,087 (41) 275,530
Ending balance (in shares) at Jun. 30, 2018 8,715,000              
Shares issued under trustee compensation plan   57   57       57
Shares issued under trustee compensation plan (in shares) 3,000              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         630     630
Shares/units redeemed   (241)   (241) (263)     (504)
Shares/units redeemed (in shares) (14,000)              
Dividends declared     (2,248) (2,248) (4,470)     (6,718)
Dividends reinvested - stock dividend   1,458   1,458       1,458
Dividends reinvested - stock dividend (in shares) 83,000              
Issuance of shares under optional purchase plan   922   922       922
Issuance of shares under optional purchase plan (in shares) 50,000              
Change in fair value of interest rate swaps             8 8
Distributions paid to consolidated real estate entity noncontrolling interests           (477)   (477)
Net income     2,379 2,379 4,739 (34)   7,084
Ending balance at Sep. 30, 2018   120,289 (24,037) 96,252 179,195 2,576 (33) 277,990
Ending balance (in shares) at Sep. 30, 2018 8,837,000              
Beginning Balance at Dec. 31, 2018   122,624 (24,741) 97,883 183,360 2,538 (30) $ 283,751
Beginning Balance (in shares) at Dec. 31, 2018 8,967,000             8,967,000
Shares/units redeemed   (197)   (197) (629)     $ (826)
Shares/units redeemed (in shares) (11,000)              
Dividends declared     (2,374) (2,374) (4,661)     (7,035)
Dividends reinvested - stock dividend   1,479   1,479       1,479
Dividends reinvested - stock dividend (in shares) 82,000              
Issuance of shares under optional purchase plan   929   929       929
Issuance of shares under optional purchase plan (in shares) 49,000              
Change in fair value of interest rate swaps             4 4
Net income     1,288 1,288 2,532 (30)   3,790
Ending balance at Mar. 31, 2019   124,835 (25,827) 99,008 180,602 2,508 (26) 282,092
Ending balance (in shares) at Mar. 31, 2019 9,087,000              
Beginning Balance at Dec. 31, 2018   122,624 (24,741) 97,883 183,360 2,538 (30) $ 283,751
Beginning Balance (in shares) at Dec. 31, 2018 8,967,000             8,967,000
Dividends reinvested - stock dividend (in shares)               255,000
Change in fair value of interest rate swaps               $ 14
Net income               12,081
Ending balance at Sep. 30, 2019   129,123 (27,809) 101,314 176,413 2,437 (16) $ 280,148
Ending balance (in shares) at Sep. 30, 2019 9,320,000             9,320,000
Beginning Balance at Mar. 31, 2019   124,835 (25,827) 99,008 180,602 2,508 (26) $ 282,092
Beginning Balance (in shares) at Mar. 31, 2019 9,087,000              
Shares/units redeemed   (154)   (154) (272)     (426)
Shares/units redeemed (in shares) (9,000)              
Dividends declared     (2,407) (2,407) (4,657)     (7,064)
Dividends reinvested - stock dividend   1,554   1,554       1,554
Dividends reinvested - stock dividend (in shares) 86,000              
Issuance of shares under optional purchase plan   795   795       795
Issuance of shares under optional purchase plan (in shares) 42,000              
Change in fair value of interest rate swaps             4 4
Net income     1,647 1,647 3,190 (16)   4,821
Ending balance at Jun. 30, 2019   127,030 (26,587) 100,443 178,863 2,492 (22) 281,776
Ending balance (in shares) at Jun. 30, 2019 9,206,000              
Shares issued under trustee compensation plan   62   62       62
Shares issued under trustee compensation plan (in shares) 3,000              
Shares/units redeemed   (242)   (242) (79)     (321)
Shares/units redeemed (in shares) (13,000)              
Dividends declared     (2,435) (2,435) (4,655)     (7,090)
Dividends reinvested - stock dividend   1,558   1,558       1,558
Dividends reinvested - stock dividend (in shares) 87,000              
Issuance of shares under optional purchase plan   687   687       687
Issuance of shares under optional purchase plan (in shares) 36,000              
UPREIT units converted to REIT common shares   28   28 (28)      
UPREIT units converted to REIT common shares (in shares) 1,000              
Change in fair value of interest rate swaps             6 6
Net income     1,213 1,213 2,312 (55)   3,470
Ending balance at Sep. 30, 2019   $ 129,123 $ (27,809) $ 101,314 $ 176,413 $ 2,437 $ (16) $ 280,148
Ending balance (in shares) at Sep. 30, 2019 9,320,000             9,320,000