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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 8,967,000              
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              
Dividends reinvested - stock dividend               $ 3,033
Dividends reinvested - stock dividend (in shares)               168,000
Change in fair value of interest rate swaps               $ 7
Net income               8,611
Ending balance at Jun. 30, 2019   127,030 (26,585) 100,445 178,863 2,491 (23) 281,776
Ending balance (in shares) at Jun. 30, 2019 9,206,000              
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) (273)     (427)
Shares/units redeemed (in shares) (9,000)              
Dividends declared     (2,405) (2,405) (4,657)     (7,062)
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             3 3
Net income     1,647 1,647 3,191 (17)   4,821
Ending balance at Jun. 30, 2019   127,030 (26,585) 100,445 178,863 2,491 (23) 281,776
Ending balance (in shares) at Jun. 30, 2019 9,206,000              
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 9,436,000             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) (38,000)              
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) 87,000              
Issuance of shares under optional purchase plan   1,203   1,203       1,203
Issuance of shares under optional purchase plan (in shares) 62,000              
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 9,547,000              
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 9,436,000             9,436,000
Dividends reinvested - stock dividend               $ 3,192
Dividends reinvested - stock dividend (in shares)               175,000
Change in fair value of interest rate swaps               $ (2,108)
Net income               11,624
Ending balance at Jun. 30, 2020   134,532 (29,944) 104,588 180,439 2,429 (2,071) $ 285,385
Ending balance (in shares) at Jun. 30, 2020 9,610,000             9,610,000
Beginning Balance at Mar. 31, 2020   133,352 (29,602) 103,750 181,299 2,411 (1,449) $ 286,011
Beginning Balance (in shares) at Mar. 31, 2020 9,547,000              
Shares/units redeemed   (1,039)   (1,039) (209)     (1,248)
Shares/units redeemed (in shares) (57,000)              
Dividends declared     (2,544) (2,544) (4,828)     (7,372)
Dividends reinvested - stock dividend   1,608   1,608       1,608
Dividends reinvested - stock dividend (in shares) 88,000              
Issuance of shares under optional purchase plan   611   611       611
Issuance of shares under optional purchase plan (in shares) 32,000              
Change in fair value of interest rate swaps             (622) (622)
Net income     2,202 2,202 4,177 18   6,397
Ending balance at Jun. 30, 2020   $ 134,532 $ (29,944) $ 104,588 $ 180,439 $ 2,429 $ (2,071) $ 285,385
Ending balance (in shares) at Jun. 30, 2020 9,610,000             9,610,000