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Condensed Consolidated Statement of Changes in Equity (Unaudited) - USD ($)
Total
Preferred Equity
Common Stock
Additional Paid-In Capital
Retained Earnings (Accumulated Deficit)
Total Stockholders' Equity
Non-Controlling Interest
Non-Controlling Interest
Preferred Equity
Redeemable non-controlling interest
Beginning Balance at Dec. 31, 2022 $ 128,291,000   $ 18,000 $ 31,367,000 $ (815,000) $ 30,570,000 $ 97,721,000    
Beginning Balance, Shares at Dec. 31, 2022     1,824            
Shares issued, value 302,862,000   $ 151,000 302,711,000   302,862,000      
Shares issued, shares     15,010            
Amortization of restricted stock grants 50,000     50,000   50,000      
Offering costs (1,089,000)     (1,089,000)   (1,089,000)      
Contributions from non-controlling interests 669,000           669,000    
Distribution reinvestments, value 1,868,000   $ 22,000 453,000   453,000 1,415,000    
Net income 9,017,000       6,167,000 6,167,000 2,850,000    
Share class transfer, shares     (10)            
Repurchase of common stock (151,000)     (151,000)   (151,000)      
Repurchase of common stock, shares     (7)            
Distributions to non-controlling interest/ Distributions to non-controlling preferred shareholders (2,123,000)           (2,123,000)    
Distributions declared on common stock (5,040,000)       (5,040,000) (5,040,000)      
Ending Balance at Sep. 30, 2023 434,354,000   $ 169,000 333,341,000 312,000 333,822,000 100,532,000    
Ending Balance, Shares at Sep. 30, 2023     16,839            
Beginning Balance at Jun. 30, 2023 297,818,000   $ 102,000 199,208,000 (392,000) 198,918,000 98,900,000    
Beginning Balance, Shares at Jun. 30, 2023     10,221            
Shares issued, value 134,091,000   $ 67,000 134,024,000   134,091,000      
Shares issued, shares     6,609            
Amortization of restricted stock grants 25,000     25,000   25,000      
Offering costs (100,000)     (100,000)   (100,000)      
Contributions from non-controlling interests 258,000           258,000    
Distribution reinvestments, value 1,399,000     335,000   335,000 1,064,000    
Distribution reinvestments, shares     16            
Net income 5,289,000       3,911,000 3,911,000 1,378,000    
Repurchase of common stock (151,000)     (151,000)   (151,000)      
Repurchase of common stock, shares     (7)            
Distributions to non-controlling interest/ Distributions to non-controlling preferred shareholders (1,068,000)           (1,068,000)    
Distributions declared on common stock (3,207,000)       (3,207,000) (3,207,000)      
Ending Balance at Sep. 30, 2023 434,354,000   $ 169,000 333,341,000 312,000 333,822,000 100,532,000    
Ending Balance, Shares at Sep. 30, 2023     16,839            
Beginning Balance at Dec. 31, 2023 542,876,000   $ 220,000 438,432,000 2,681,000 441,333,000 101,543,000   $ 967,000
Beginning Balance, Shares at Dec. 31, 2023     21,943            
Shares issued, value 348,351,000 $ 125,000 $ 167,000 348,184,000   348,351,000   $ 125,000 1,385,000
Shares issued, shares     16,717            
Amortization of restricted stock grants 75,000     75,000   75,000      
Offering costs (1,003,000)     (1,003,000)   (1,003,000)      
Distribution reinvestments, value 8,184,000   $ 2,000 4,145,000   4,147,000 4,037,000   84,000
Distribution reinvestments, shares     197            
Net income 34,495,000               109,000
Net Income 34,386,000       29,361,000 29,361,000 5,025,000    
Share class transfer, shares     (45)            
Repurchase of common stock (5,188,000)   $ (2,000) (5,186,000)   (5,188,000)      
Repurchase of common stock, shares     (249)            
Distributions to non-controlling interests in the Operating Partnership (4,180,000)           (4,180,000)   (94,000)
Distributions to non-controlling interest/ Distributions to non-controlling preferred shareholders (7,000)           (7,000)    
Distributions declared on common stock (24,969,000)       (24,969,000) (24,969,000)      
Allocation to redeemable non-controlling interest (22,000)     (22,000)   (22,000)     22,000
Ending Balance at Sep. 30, 2024 898,628,000   $ 387,000 784,625,000 7,073,000 792,085,000 106,543,000   2,473,000
Ending Balance, Shares at Sep. 30, 2024     38,563            
Beginning Balance at Jun. 30, 2024 759,536,000   $ 322,000 648,320,000 5,985,000 654,627,000 104,909,000   2,133,000
Beginning Balance, Shares at Jun. 30, 2024     32,046            
Shares issued, value 136,415,000   $ 65,000 136,350,000   136,415,000     280,000
Shares issued, shares     6,508            
Amortization of restricted stock grants 25,000     25,000   25,000      
Offering costs (250,000)     (250,000)   (250,000)      
Distribution reinvestments, value 3,256,000   $ 1,000 1,792,000   1,793,000 1,463,000   35,000
Distribution reinvestments, shares     85            
Net income 13,239,000               41,000
Net Income 13,198,000       11,530,000 11,530,000 1,668,000    
Repurchase of common stock (1,591,000)   $ (1,000) (1,590,000)   (1,591,000)      
Repurchase of common stock, shares     (76)            
Distributions to non-controlling interests in the Operating Partnership (1,497,000)           (1,497,000)   (38,000)
Distributions declared on common stock (10,442,000)       (10,442,000) (10,442,000)      
Allocation to redeemable non-controlling interest (22,000)     (22,000)   (22,000)     22,000
Ending Balance at Sep. 30, 2024 $ 898,628,000   $ 387,000 $ 784,625,000 $ 7,073,000 $ 792,085,000 $ 106,543,000   $ 2,473,000
Ending Balance, Shares at Sep. 30, 2024     38,563