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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, 2016   $ 106,207 $ (21,480) $ 84,727 $ 170,138 $ 3,935 $ (145) $ 258,655
Beginning Balance (in shares) at Dec. 31, 2016 8,001              
Shares issued under trustee compensation plan   59   59       59
Shares issued under trustee compensation plan (in shares) 4              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         14,733     14,733
Shares/units redeemed   (1,110)   (1,110) (1,284)     (2,394)
Shares/units redeemed (in shares) (72)              
Dividends declared     (8,212) (8,212) (17,244)     (25,456)
Dividends reinvested - stock dividend   5,163   5,163       $ 5,163
Dividends reinvested - stock dividend (in shares) 331             331,000
Issuance of shares under optional purchase plan   3,543   3,543       $ 3,543
Issuance of shares under optional purchase plan (in shares) 216             216,000
UPREIT units converted to REIT common shares   133   133 (133)      
UPREIT units converted to REIT common shares (in shares) 8              
Change in fair value of interest rate swaps             80 $ 80
Distributions paid to consolidated real estate entity noncontrolling interests           (490)   (490)
Net income     6,514 6,514 13,634 (265)   19,883
Ending balance at Dec. 31, 2017   113,995 (23,179) 90,816 179,844 3,180 (65) 273,775
Ending balance (in shares) at Dec. 31, 2017 8,488              
Shares issued under trustee compensation plan   57   57       57
Shares issued under trustee compensation plan (in shares) 3              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         7,819     7,819
Shares/units redeemed   (1,315)   (1,315) (1,116)     (2,431)
Shares/units redeemed (in shares) (75)              
Dividends declared     (8,936) (8,936) (17,955)     (26,891)
Dividends reinvested - stock dividend   5,711   5,711       $ 5,711
Dividends reinvested - stock dividend (in shares) 325             325,000
Issuance of shares under optional purchase plan   4,176   4,176       $ 4,176
Issuance of shares under optional purchase plan (in shares) 226             226,000
Change in fair value of interest rate swaps             35 $ 35
Distributions paid to consolidated real estate entity noncontrolling interests           (478)   (478)
Net income     7,374 7,374 14,768 (164)   21,978
Ending balance at Dec. 31, 2018   122,624 (24,741) 97,883 183,360 2,538 (30) $ 283,751
Ending balance (in shares) at Dec. 31, 2018 8,967             8,967,000
Shares issued under trustee compensation plan   62   62       $ 62
Shares issued under trustee compensation plan (in shares) 3              
Shares/units redeemed   (891)   (891) (1,132)     (2,023)
Shares/units redeemed (in shares) (50)              
Dividends declared     (9,681) (9,681) (18,626)     (28,307)
Dividends reinvested - stock dividend   6,145   6,145       $ 6,145
Dividends reinvested - stock dividend (in shares) 342             342,000
Issuance of shares under optional purchase plan   3,293   3,293       $ 3,293
Issuance of shares under optional purchase plan (in shares) 173             173,000
UPREIT units converted to REIT common shares   28   28 (28)      
UPREIT units converted to REIT common shares (in shares) 1              
Change in fair value of interest rate swaps             67 $ 67
Net income     5,534 5,534 10,647 (122)   16,059
Ending balance at Dec. 31, 2019   $ 131,261 $ (28,888) $ 102,373 $ 174,221 $ 2,416 $ 37 $ 279,047
Ending balance (in shares) at Dec. 31, 2019 9,436             9,436,000