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Equity and Earnings per Common Share (Tables)
 12 Months Ended
Dec. 31, 2023
Equity and Earnings per Common Share [Abstract]  
Information about Company's 2013 Plan

The following table sets forth the number of shares of the Company’s common stock as well as LTIP-OP Units and the values thereof (based on the closing prices on the respective dates of grant) granted under the 2013 Plan and the 2023 Plan. As noted above, effective as of June 15, 2023, (the date of the Company’s 2023 annual meeting of stockholders) the 2023 Plan replaced the 2013 Plan. No further awards will be made by the Company under the 2013 Plan, and currently outstanding awards granted under the 2013 Plan will remain effective in accordance with their terms. Except as otherwise indicated, all shares shown in the table below are fully vested.

Equity Incentive Plan Information

    LTIP-OP Units     Shares of Common Stock              
   
Issued
      
Forfeited
    
Converted
     Redeemed    
Issued
      
Forfeited
    
Number of Securities
Remaining Available For
Future Issuance Under
Equity Compensation Plans
     Weighted Average Issuance
Price
  
December 31, 2020
    
(341,847
)
      
916
      
28,417
       -      
(108,388
)
      
3,155
      
1,082,253
        
Number of securities issued or to be issued upon exercise
    
(49,800
)
   (A)  
-
      
16,378
       -      
(36,592
)
      
-
      
(70,014
)
  
$
9.77
  
Number of securities redeemed
     -         -       -       9,054       -         -       -          
December 31, 2021
    
(391,647
)
      
916
      
44,795
       9,054      
(144,980
)
      
3,155
      
1,012,239
          
Number of securities issued or to be issued upon exercise
    
(68,250
)
   (B)
 
-
      
-
       -      
(33,441
)
      
-
      
(101,691
)
  
$
7.70
  
Number of securities forfeited
     -         4,916       -       -       -         -
       4,916          
December 31, 2022
    
(459,897
)
      
5,832
      
44,795
       9,054      
(178,421
)
      
3,155
      
915,464
          
Number of securities issued or to be issued upon exercise
  
   (92,200 )   (C)
  -       -       -       (41,835 ) (D)     -       (134,035 )   $ 5.74  
Increase in the number of securities available for issuance
    -         -       -       -       -         -       2,006,736          
December 31, 2023     (552,097 )       5,832       44,795       9,054       (220,256 )       3,155       2,788,165          

(A)
Subject to forfeiture in certain circumstances prior to January 4, 2024.
(B)
Subject to forfeiture in certain circumstances prior to January 3, 2025.
(C)
Subject to forfeiture in certain circumstances prior to January 10, 2026.
(D)
Subject to forfeiture in certain circumstances prior to June 29, 2024.
Basic and Diluted Earnings per Share of Common Stock

The following table presents basic and diluted earnings per share of common stock for the periods indicated (dollars in thousands, except per share data):

Earnings per Common Share Information

 
Year Ended December 31,
  
   
2023
    
2022
    
2021
  
Numerator:
                  
Net income (loss)
  
$
(35,455
)
  
$
22,189
    
$
12,530
  
Net (income) loss allocated to noncontrolling interests in Operating Partnership
    
661
      
(450
)
    
(247
)
Dividends on preferred stock
    
9,853
      
9,853
      
9,853
  
Net income (loss) applicable to common stockholders
  
$
(44,647
)
  
$
11,886
    
$
2,430
  
Denominator:
                        
Weighted average common shares outstanding
    
26,262,407
      
19,768,286
      
17,324,362
  
Weighted average diluted shares outstanding
    
26,293,903
      
19,795,639
      
17,345,562
  
Basic and Diluted EPS:
                        
Basic
  
$
(1.70
)
  
$
0.60
    
$
0.14
  
Diluted
  
$
(1.70
)
  
$
0.60
    
$
0.14