Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

The following table reflects the activity of RSUs outstanding for the periods presented:

	Number of RSUs	Weighted-Average Issue Price
Unvested, December 31, 2023	535,768	$	9.09
Vested	(36,108)	10.77
Granted	642,152	7.52
Forfeitures	(18,960)	8.23
Unvested, June 30, 2024	1,122,852	8.15

	Number of RSUs	Weighted-Average Issue Price
Unvested, December 31, 2022	47,723	$	15.82
Vested	(28,439)	15.56
Granted	30,252	10.33
Unvested, June 30, 2023	49,536	12.62

Schedule of Share-based Payment Arrangement by Restricted Stock Activity

The following table reflects the activity of Restricted Shares outstanding for the periods presented that impacted the Company:

	Number of Restricted Shares	Weighted-Average Issue Price
Unvested, December 31, 2023	565,620	$	12.14
Vested	(161,619)	13.29
Granted	—	—
Forfeitures	(41,716)	10.95
Unvested, June 30, 2024	362,285	11.76

	Number of Restricted Shares	Weighted-Average Issue Price
Unvested, December 31, 2022	359,840	$	17.16
Vested	(88,575)	17.42
Granted	265,075	10.52
Forfeitures	—	—
Unvested, June 30, 2023	536,340	13.84

Schedule of Share Based Compensation Potential Number of PSUs That May Be Earned and Vested at Various Levels of Performance

	Level of Performance
	Threshold	Target	Maximum
Potential Number of PSUs to be Issued	234,200	468,392	1,288,072

Schedule of Share Based Compensation Total Return

The following table details the number of PSUs that may be earned and vested on the PSU Measurement Date, by each category of performance goal:

	Target PSUs	Percentage of Target PSUs Earned		Number of PSUs Earned
Company TSR Relative to the MSCI REIT Index:
Less than 30th percentile (Below Threshold)	175,647	—	%	—
30th percentile (Threshold) (1)	175,647	50	%	87,825
55th percentile (Target) (1)	175,647	100	%	175,647
Equal to or greater than 75th percentile (Maximum) (1)	175,647	275	%	483,027
Company TSR Relative to the Custom Net Lease Peer Group:
Less than 30th percentile (Below Threshold)	175,647	—	%	—
30th percentile (Threshold) (1)	175,647	50	%	87,825
55th percentile (Target) (1)	175,647	100	%	175,647
Equal to or greater than 75th percentile (Maximum) (1)	175,647	275	%	483,027
Company TSR:
Less than 8% (Below Threshold)	117,098	—	%	—
8% (Threshold) (1)	117,098	50	%	58,551
10% (Target) (1)	117,098	100	%	117,098
12% or greater (Maximum) (1)	117,098	275	%	322,018

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(1) If amounts fall in between these ranges, the results will be determined using linear interpolation between those percentiles, respectively.