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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, 2020   $ 139,105 $ (29,739) $ 109,366 $ 181,621 $ 2,346 $ (1,805) $ 291,528
Beginning Balance (in shares) at Dec. 31, 2020 9,855              
Shares/units redeemed   (777)   (777) (628)     (1,405)
Shares/units redeemed (in shares) (41)              
Dividends and distributions declared     (2,642) (2,642) (4,835)     (7,477)
Dividends reinvested - stock dividend   1,686   1,686       1,686
Dividends reinvested - stock dividend (in shares) 89              
Issuance of shares under optional purchase plan   1,307   1,307       1,307
Issuance of shares under optional purchase plan (in shares) 65              
Change in fair value of interest rate swaps             2,384 2,384
Net income (loss)     2,052 2,052 3,753 31   5,836
Ending balance at Mar. 31, 2021   141,321 (30,329) 110,992 179,911 2,377 579 293,859
Ending balance (in shares) at Mar. 31, 2021 9,968              
Beginning Balance at Dec. 31, 2020   139,105 (29,739) 109,366 181,621 2,346 (1,805) 291,528
Beginning Balance (in shares) at Dec. 31, 2020 9,855              
Change in fair value of interest rate swaps               1,473
Net income (loss)               19,832
Ending balance at Sep. 30, 2021   146,109 (30,641) 115,468 179,582 2,198 (332) 296,916
Ending balance (in shares) at Sep. 30, 2021 10,215              
Beginning Balance at Mar. 31, 2021   141,321 (30,329) 110,992 179,911 2,377 579 293,859
Beginning Balance (in shares) at Mar. 31, 2021 9,968              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         890     890
Shares/units redeemed   (292)   (292) (1,853)     (2,145)
Shares/units redeemed (in shares) (15)              
Dividends and distributions declared     (2,672) (2,672) (4,821)     (7,493)
Dividends reinvested - stock dividend   1,679   1,679       1,679
Dividends reinvested - stock dividend (in shares) 88              
Issuance of shares under optional purchase plan   820   820       820
Issuance of shares under optional purchase plan (in shares) 41              
Change in fair value of interest rate swaps             (845) (845)
Net income (loss)     2,963 2,963 5,355 (40)   8,278
Ending balance at Jun. 30, 2021   143,528 (30,038) 113,490 179,482 2,337 (266) 295,043
Ending balance (in shares) at Jun. 30, 2021 10,082              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         1,993     1,993
Shares issued under trustee compensation plan   57   57       57
Shares issued under trustee compensation plan (in shares) 3              
Shares/units redeemed   (105)   (105) (810)     (915)
Shares/units redeemed (in shares) (6)              
Dividends and distributions declared     (2,707) (2,707) (4,836)     (7,543)
Dividends reinvested - stock dividend   1,743   1,743       1,743
Dividends reinvested - stock dividend (in shares) 92              
Issuance of shares under optional purchase plan   886   886       886
Issuance of shares under optional purchase plan (in shares) 44              
Change in fair value of interest rate swaps             (66) (66)
Net income (loss)     2,104 2,104 3,753 (139)   5,718
Ending balance at Sep. 30, 2021   146,109 (30,641) 115,468 179,582 2,198 (332) 296,916
Ending balance (in shares) at Sep. 30, 2021 10,215              
Beginning Balance at Dec. 31, 2021   148,562 (31,706) 116,856 176,954 2,657 (950) 295,517
Beginning Balance (in shares) at Dec. 31, 2021 10,342,000              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         10,180     10,180
Shares/units redeemed   (401)   (401) (335)     (736)
Shares/units redeemed (in shares) (18,000)              
Dividends and distributions declared     (3,007) (3,007) (5,359)     (8,366)
Dividends reinvested - stock dividend   1,716   1,716       1,716
Dividends reinvested - stock dividend (in shares) 79,000              
Issuance of shares under optional purchase plan   1,313   1,313       1,313
Issuance of shares under optional purchase plan (in shares) 57,000              
Change in fair value of interest rate swaps             6,524 6,524
Net income (loss)     1,214 1,214 2,145 30   3,389
Ending balance at Mar. 31, 2022   151,190 (33,499) 117,691 183,585 2,687 5,574 309,537
Ending balance (in shares) at Mar. 31, 2022 10,460,000              
Beginning Balance at Dec. 31, 2021   148,562 (31,706) 116,856 176,954 2,657 (950) 295,517
Beginning Balance (in shares) at Dec. 31, 2021 10,342,000              
Change in fair value of interest rate swaps               15,306
Net income (loss)               20,812
Ending balance at Sep. 30, 2022   156,091 (33,270) 122,821 185,758 2,642 14,356 325,577
Ending balance (in shares) at Sep. 30, 2022 10,680,000              
Beginning Balance at Mar. 31, 2022   151,190 (33,499) 117,691 183,585 2,687 5,574 309,537
Beginning Balance (in shares) at Mar. 31, 2022 10,460,000              
Shares/units redeemed   (386)   (386) (138)     (524)
Shares/units redeemed (in shares) (18,000)              
Dividends and distributions declared     (3,037) (3,037) (5,357)     (8,394)
Dividends reinvested - stock dividend   1,877   1,877       1,877
Dividends reinvested - stock dividend (in shares) 86,000              
Issuance of shares under optional purchase plan   806   806       806
Issuance of shares under optional purchase plan (in shares) 35,000              
Change in fair value of interest rate swaps             3,815 3,815
Net income (loss)     2,568 2,568 4,531 8   7,107
Ending balance at Jun. 30, 2022   153,487 (33,968) 119,519 182,621 2,695 9,389 314,224
Ending balance (in shares) at Jun. 30, 2022 10,563,000              
Contribution of assets in exchange for the issuance of noncontrolling interest shares         2,210     2,210
Shares issued under trustee compensation plan   65   65       65
Shares issued under trustee compensation plan (in shares) 3,000              
Shares/units redeemed   (310)   (310) (293)     (603)
Shares/units redeemed (in shares) (14,000)              
Dividends and distributions declared     (3,070) (3,070) (5,381)     (8,451)
Dividends reinvested - stock dividend   1,910   1,910       1,910
Dividends reinvested - stock dividend (in shares) 87,000              
Issuance of shares under optional purchase plan   939   939       939
Issuance of shares under optional purchase plan (in shares) 41,000              
Change in fair value of interest rate swaps             4,967 4,967
Net income (loss)     3,768 3,768 6,601 (53)   10,316
Ending balance at Sep. 30, 2022   $ 156,091 $ (33,270) $ 122,821 $ 185,758 $ 2,642 $ 14,356 $ 325,577
Ending balance (in shares) at Sep. 30, 2022 10,680,000