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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Rental income $ 16,604 $ 14,499
Fee and other 683 649
Total revenues 17,287 15,148
Operating expenses:    
Real estate taxes 2,302 1,983
Property operating expenses 2,353 1,624
General and administrative 4,292 4,159
Depreciation and amortization 5,301 4,837
Total operating expenses 14,248 12,603
Income from operations 3,039 2,545
Other income 50 114
Interest expense, net:    
Contractual interest expense (2,637) (2,045)
Write-off and amortization of deferred financing fees (181) (165)
Interest income 1 0
Total interest expense, net (2,817) (2,210)
Income before income tax expense 272 449
Income tax expense (16) (16)
Net income 256 433
Net income attributable to operating partnership unitholders’ non-controlling interests (50) (85)
Net income attributable to common stockholders $ 206 $ 348
Net (loss) income per share:    
Basic (in dollars per share) $ (0.01) $ 0.00
Diluted (in dollars per share) $ (0.01) $ 0.00
Weighted average common shares outstanding:    
Basic (in shares) 22,045,310 19,294,896
Diluted (in shares) 22,045,310 19,294,896
Comprehensive income (loss):    
Net income $ 256 $ 433
Unrealized gain (loss) on derivative instruments 2,819 (2,837)
Comprehensive income (loss) 3,075 (2,404)
Comprehensive (loss) income attributable to operating partnership unitholders’ non-controlling interests (602) 473
Comprehensive income (loss) attributable to common stockholders $ 2,473 $ (1,931)