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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common stock
Capital in excess of par value
Cumulative net income
Cumulative dividends
Accumulated other comprehensive income/(loss)
Balance at Dec. 31, 2021 $ 235,327 $ 138 $ 268,515 $ 789,559 $ (823,998) $ 1,113
Balance, Shares at Dec. 31, 2021   13,785        
Shares of Beneficial Interest:            
Issued 177   177      
Issued (in shares)   18        
Restricted stock-based compensation expense 780   780      
Dividends (39,183)       (39,183)  
Comprehensive income:            
Net income 21,102     21,102    
Unrealized net gain/(loss) on cash flow hedges 10,898         10,898
Subtotal - comprehensive income 32,000     21,102   10,898
Balance at Dec. 31, 2022 229,101 $ 138 269,472 810,661 (863,181) 12,011
Balance, Shares at Dec. 31, 2022   13,803        
Shares of Beneficial Interest:            
Issued 146   146      
Issued (in shares)   21        
Restricted stock-based compensation expense 780   780      
Dividends (39,794)       (39,794)  
Comprehensive income:            
Net income 15,400     15,400    
Unrealized net gain/(loss) on cash flow hedges (4,699)         (4,699)
Subtotal - comprehensive income 10,701     15,400   (4,699)
Balance at Dec. 31, 2023 200,934 $ 138 270,398 826,061 (902,975) 7,312
Balance, Shares at Dec. 31, 2023   13,824        
Shares of Beneficial Interest:            
Issued (131)   (131)      
Issued (in shares)   27        
Repurchased (28)   (28)      
Restricted stock-based compensation expense 853   853      
Dividends (40,421)       (40,421)  
Comprehensive income:            
Net income 19,234     19,234    
Unrealized net gain/(loss) on cash flow hedges (900)         (900)
Subtotal - comprehensive income 18,334     19,234   (900)
Balance at Dec. 31, 2024 $ 179,541 $ 138 $ 271,092 $ 845,295 $ (943,396) $ 6,412
Balance, Shares at Dec. 31, 2024   13,851