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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, 2018   $ 122,624 $ (24,741) $ 97,883 $ 183,360 $ 2,538 $ (30) $ 283,751
Beginning Balance (in shares) at Dec. 31, 2018 8,967              
Shares/units redeemed   (197)   (197) (629)     (826)
Shares/units redeemed (in shares) (11)              
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             82,000
Issuance of shares under optional purchase plan   929   929       $ 929
Issuance of shares under optional purchase plan (in shares) 49              
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              
Beginning Balance at Dec. 31, 2019   131,261 (28,888) 102,373 174,221 2,416 37 $ 279,047
Beginning Balance (in shares) at Dec. 31, 2019 9,436             9,436,000
Contribution of assets in exchange for the issuance of noncontrolling interest shares         9,031     $ 9,031
Shares/units redeemed   (696)   (696) (541)     (1,237)
Shares/units redeemed (in shares) (38)              
Dividends declared     (2,527) (2,527) (4,831)     (7,358)
Dividends reinvested - stock dividend   1,584   1,584       $ 1,584
Dividends reinvested - stock dividend (in shares) 87             87,000
Issuance of shares under optional purchase plan   1,203   1,203       $ 1,203
Issuance of shares under optional purchase plan (in shares) 62              
Change in fair value of interest rate swaps             (1,486) (1,486)
Net income     1,813 1,813 3,419 (5)   5,227
Ending balance at Mar. 31, 2020   $ 133,352 $ (29,602) $ 103,750 $ 181,299 $ 2,411 $ (1,449) $ 286,011
Ending balance (in shares) at Mar. 31, 2020 9,547             9,547,000