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Consolidated Statements of Changes in Equity (Deficit) (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders’ equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Operating Partnership Unitholders’ Non-controlling Interests
Operating Partnership unitholders' noncontrolling interests
Beginning balance at Dec. 31, 2022 $ 283,711 $ 229,231 $ 195 $ 254,107 $ 7,486 $ (32,557) $ 54,480  
Beginning balance (in shares) at Dec. 31, 2022     19,555,272          
Net proceeds from sale of common stock (in shares)     55,082          
Net proceeds from sale of common stock 710 710 $ 1 709        
Shares issued upon redemption of OP units (in shares)     22,798          
Shares issued upon redemption of operating partnership units 0 409   409     (409)  
Issuance and amortization of equity-based compensation (in shares)     146,627          
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition 1,945 1,377 $ 1 1,376     568  
Issuance and amortization under ESPP (in shares)     6,446          
APIC, Share-Based Payment Arrangement, ESPP, Increase for Cost Recognition 94 94   94        
Restricted stock withholdings (in shares)     (21,310)          
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation 327 327   327        
Dividends and distributions (5,963) (4,787)       (4,787) (1,176)  
Unrealized loss on derivative instruments (2,837) (2,279)     (2,279)   (558)  
Net income 433 348       348 85  
Reallocation of non-controlling interest 0 (2,338)   (2,338)     2,338  
Ending balance (in shares) at Mar. 31, 2023     19,764,915          
Ending balance at Mar. 31, 2023 277,766 222,438 $ 197 254,030 5,207 (36,996) 55,328  
Beginning balance at Dec. 31, 2023 301,625 243,562 $ 219 287,268 4,621 (48,546) 58,063  
Beginning balance (in shares) at Dec. 31, 2023     21,960,211          
Net proceeds from sale of common stock (in shares)     576,087          
Net proceeds from sale of common stock 7,867 7,867 $ 6 7,861        
Issuance of operating partnership units in connection with acquisition transactions 5,788             $ 5,788
Issuance and amortization of equity-based compensation (in shares)     120,941          
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition 2,113 1,148 $ 1 1,147     965  
Issuance and amortization under ESPP (in shares)     5,137          
APIC, Share-Based Payment Arrangement, ESPP, Increase for Cost Recognition 77 77   77        
Restricted stock withholdings (in shares)     (27,919)          
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation 396 396   396        
Dividends and distributions (6,859) (5,520)       (5,520) (1,339)  
Unrealized loss on derivative instruments 2,819 2,267     2,267   552  
Net income 256 206       206 50  
Reallocation of non-controlling interest 0 (1,079)   (1,079)     1,079  
Ending balance (in shares) at Mar. 31, 2024     22,634,457          
Ending balance at Mar. 31, 2024 $ 313,290 $ 248,132 $ 226 $ 294,878 $ 6,888 $ (53,860) $ 65,158