Farmland Partners (FPI) annual balance sheet covering fiscal 2020 through 2025, as reported to the SEC.
Total assets have shrunk 8% a year on average since fiscal 2020, from $1.09B to $719.07M.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
Land, at cost | |||||||||||||||||||||
565,002 | 645,592 | 869,848 | 980,521 | 945,951 | 924,952 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Land, at cost | 565,002 | 645,592 | 869,848 | 980,521 | 945,951 | 924,952 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Grain facilities | |||||||||||||||||||||
7,476 | 7,714 | 12,222 | 11,349 | 10,754 | 12,091 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Grain facilities | 7,476 | 7,714 | 12,222 | 11,349 | 10,754 | 12,091 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Groundwater | |||||||||||||||||||||
8,858 | 11,033 | 11,472 | 17,682 | 10,214 | 10,214 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Groundwater | 8,858 | 11,033 | 11,472 | 17,682 | 10,214 | 10,214 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Irrigation improvements | |||||||||||||||||||||
22,741 | 28,890 | 41,988 | 50,097 | 52,693 | 53,887 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Irrigation improvements | 22,741 | 28,890 | 41,988 | 50,097 | 52,693 | 53,887 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Drainage improvements | |||||||||||||||||||||
6,401 | 8,243 | 10,315 | 12,543 | 12,606 | 12,805 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Drainage improvements | 6,401 | 8,243 | 10,315 | 12,543 | 12,606 | 12,805 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Permanent plantings | |||||||||||||||||||||
28,049 | 42,461 | 39,620 | 50,394 | 53,698 | 54,374 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Permanent plantings | 28,049 | 42,461 | 39,620 | 50,394 | 53,698 | 54,374 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other | |||||||||||||||||||||
3,334 | 3,983 | 4,696 | 6,967 | 6,848 | 8,167 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other | 3,334 | 3,983 | 4,696 | 6,967 | 6,848 | 8,167 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Construction in progress | |||||||||||||||||||||
1,190 | 1,484 | 4,453 | 14,810 | 10,647 | 9,284 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Construction in progress | 1,190 | 1,484 | 4,453 | 14,810 | 10,647 | 9,284 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Real estate, at cost | |||||||||||||||||||||
643,051 | 749,400 | 994,614 | 1,144,363 | 1,103,411 | 1,085,774 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate, at cost | 643,051 | 749,400 | 994,614 | 1,144,363 | 1,103,411 | 1,085,774 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less accumulated depreciation | |||||||||||||||||||||
26,783 | 31,557 | 33,083 | 38,447 | 38,303 | 32,654 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less accumulated depreciation | 26,783 | 31,557 | 33,083 | 38,447 | 38,303 | 32,654 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total real estate, net | |||||||||||||||||||||
616,268 | 717,843 | 961,531 | 1,105,916 | 1,065,108 | 1,053,120 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total real estate, net | 616,268 | 717,843 | 961,531 | 1,105,916 | 1,065,108 | 1,053,120 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deposits | |||||||||||||||||||||
- | - | 426 | 148 | 58 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deposits | - | - | 426 | 148 | 58 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash and cash equivalents | |||||||||||||||||||||
9,293 | 78,441 | 5,489 | 7,654 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 9,293 | 78,441 | 5,489 | 7,654 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash and cash equivalents | |||||||||||||||||||||
- | - | - | - | 30,171 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | - | - | - | - | 30,171 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash | |||||||||||||||||||||
- | - | - | - | - | 27,217 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash | - | - | - | - | - | 27,217 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Assets held for sale | |||||||||||||||||||||
- | 61 | 28 | 33 | 530 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Assets held for sale | - | 61 | 28 | 33 | 530 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Notes and interest receivable, net | |||||||||||||||||||||
- | - | - | - | - | 2,348 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Notes and interest receivable, net | - | - | - | - | - | 2,348 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Loans and financing receivables, net | |||||||||||||||||||||
80,232 | 55,305 | 31,020 | 21,921 | 6,112 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Loans and financing receivables, net | 80,232 | 55,305 | 31,020 | 21,921 | 6,112 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Right of use asset, net | |||||||||||||||||||||
169 | 194 | 399 | 325 | 107 | 93 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Right of use asset, net | 169 | 194 | 399 | 325 | 107 | 93 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred offering costs | |||||||||||||||||||||
- | - | - | 60 | 40 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred offering costs | - | - | - | 60 | 40 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred financing fees, net | |||||||||||||||||||||
- | - | - | - | - | 87 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred financing fees, net | - | - | - | - | - | 87 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, net | |||||||||||||||||||||
4,408 | 4,287 | 7,743 | 7,055 | 4,900 | 4,120 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, net | 4,408 | 4,287 | 7,743 | 7,055 | 4,900 | 4,120 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Derivative asset | |||||||||||||||||||||
141 | 498 | 1,707 | 2,084 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Derivative asset | 141 | 498 | 1,707 | 2,084 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, related party | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, related party | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventory | |||||||||||||||||||||
2,316 | 2,659 | 2,335 | 2,808 | 3,059 | 1,117 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventory | 2,316 | 2,659 | 2,335 | 2,808 | 3,059 | 1,117 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity method investments | |||||||||||||||||||||
4,245 | 4,101 | 4,136 | 4,185 | 3,427 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Equity method investments | 4,245 | 4,101 | 4,136 | 4,185 | 3,427 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Intangible assets, net | |||||||||||||||||||||
- | 1,374 | 2,035 | 2,055 | 1,915 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Intangible assets, net | - | 1,374 | 2,035 | 2,055 | 1,915 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
- | 2,706 | 2,706 | 2,706 | 2,706 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | - | 2,706 | 2,706 | 2,706 | 2,706 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid and other assets | |||||||||||||||||||||
1,993 | 2,179 | 2,447 | 3,196 | 3,392 | 2,889 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid and other assets | 1,993 | 2,179 | 2,447 | 3,196 | 3,392 | 2,889 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
TOTAL ASSETS | |||||||||||||||||||||
719,065 | 869,648 | 1,022,002 | 1,160,149 | 1,121,525 | 1,090,991 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
TOTAL ASSETS | 719,065 | 869,648 | 1,022,002 | 1,160,149 | 1,121,525 | 1,090,991 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||
Mortgage notes and bonds payable, net | |||||||||||||||||||||
160,842 | 203,683 | 360,859 | 436,875 | 511,323 | 506,625 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Mortgage notes and bonds payable, net | 160,842 | 203,683 | 360,859 | 436,875 | 511,323 | 506,625 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease liability | |||||||||||||||||||||
- | - | - | - | 107 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease liability | - | - | - | - | 107 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Mortgage notes and bonds payable, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Mortgage notes and bonds payable, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Lease liability | |||||||||||||||||||||
169 | 194 | 399 | 325 | - | 93 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Lease liability | 169 | 194 | 399 | 325 | - | 93 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Mortgage notes and bonds payable, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Mortgage notes and bonds payable, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Dividends payable | |||||||||||||||||||||
11,483 | 57,253 | 13,286 | 3,333 | 2,342 | 1,612 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Dividends payable | 11,483 | 57,253 | 13,286 | 3,333 | 2,342 | 1,612 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Derivative liability | |||||||||||||||||||||
- | - | - | - | 785 | 2,899 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Derivative liability | - | - | - | - | 785 | 2,899 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued interest | |||||||||||||||||||||
2,116 | 3,062 | 4,747 | 4,135 | 3,011 | 3,446 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued interest | 2,116 | 3,062 | 4,747 | 4,135 | 3,011 | 3,446 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued property taxes | |||||||||||||||||||||
1,411 | 1,650 | 1,898 | 2,008 | 1,762 | 1,817 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued property taxes | 1,411 | 1,650 | 1,898 | 2,008 | 1,762 | 1,817 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||||
1,200 | 1,200 | 2,100 | 44 | 45 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | 1,200 | 1,200 | 2,100 | 44 | 45 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||||
- | - | - | - | - | 40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | - | - | - | - | - | 40 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred revenue | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred revenue | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses | |||||||||||||||||||||
3,831 | 6,096 | 7,854 | 9,215 | 9,564 | 8,272 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses | 3,831 | 6,096 | 7,854 | 9,215 | 9,564 | 8,272 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
181,095 | 273,091 | 391,192 | 455,935 | 528,939 | 524,801 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 181,095 | 273,091 | 391,192 | 455,935 | 528,939 | 524,801 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commitments and contingencies (See Note 8) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commitments and contingencies (See Note 8) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Series B Participating Preferred Stock, $0.01 par value, 6,037,500 shares authorized; 5,806,797 shares issued and outstanding at September 30, 2021, and 5,831,870 at December 31, 2020 | |||||||||||||||||||||
- | - | - | - | - | 139,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Series B Participating Preferred Stock, $0.01 par value, 6,037,500 shares authorized; 5,806,797 shares issued and outstanding at September 30, 2021, and 5,831,870 at December 31, 2020 | - | - | - | - | - | 139,800 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Series B Participating Preferred Stock, $0.01 par value, 100,000,000 shares authorized; 5,972,059 shares issued and outstanding at September 30, 2019, and 6,013,587 December 31, 2018 | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Series B Participating Preferred Stock, $0.01 par value, 100,000,000 shares authorized; 5,972,059 shares issued and outstanding at September 30, 2019, and 6,013,587 December 31, 2018 | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Redeemable non-controlling interest in operating partnership, common units | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Redeemable non-controlling interest in operating partnership, common units | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Redeemable non-controlling interest in operating partnership, Series A preferred units | |||||||||||||||||||||
70,583 | 101,970 | 101,970 | 110,210 | 120,510 | 120,510 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Redeemable non-controlling interest in operating partnership, Series A preferred units | 70,583 | 101,970 | 101,970 | 110,210 | 120,510 | 120,510 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
EQUITY | |||||||||||||||||||||
Common stock, $0.01 par value, 500,000,000 shares authorized; 43,628,639 shares issued and outstanding at June 30, 2026, and 43,093,127 shares issued and outstanding at December 31, 2025 | |||||||||||||||||||||
431 | 459 | 482 | 531 | 444 | 297 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock, $0.01 par value, 500,000,000 shares authorized; 43,628,639 shares issued and outstanding at June 30, 2026, and 43,093,127 shares issued and outstanding at December 31, 2025 | 431 | 459 | 482 | 531 | 444 | 297 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid in capital | |||||||||||||||||||||
520,899 | 551,994 | 577,237 | 647,346 | 524,183 | 345,870 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid in capital | 520,899 | 551,994 | 577,237 | 647,346 | 524,183 | 345,870 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retained earnings | |||||||||||||||||||||
117,314 | 88,352 | 31,411 | 3,567 | -4,739 | 1,037 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retained earnings | 117,314 | 88,352 | 31,411 | 3,567 | -4,739 | 1,037 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Distributions in excess of earnings | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Distributions in excess of earnings | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cumulative dividends | |||||||||||||||||||||
179,641 | 160,406 | 95,939 | 73,964 | 61,853 | 54,751 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cumulative dividends | 179,641 | 160,406 | 95,939 | 73,964 | 61,853 | 54,751 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other comprehensive income | |||||||||||||||||||||
350 | 1,512 | 2,691 | 3,306 | 279 | -2,380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other comprehensive income | 350 | 1,512 | 2,691 | 3,306 | 279 | -2,380 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Non-controlling interests in operating partnership | |||||||||||||||||||||
8,034 | 12,676 | 12,958 | 13,218 | 13,762 | 15,841 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Non-controlling interests in operating partnership | 8,034 | 12,676 | 12,958 | 13,218 | 13,762 | 15,841 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total equity | |||||||||||||||||||||
467,387 | 494,587 | 528,840 | 594,004 | 472,076 | 305,914 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total equity | 467,387 | 494,587 | 528,840 | 594,004 | 472,076 | 305,914 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY | |||||||||||||||||||||
719,065 | 869,648 | 1,022,002 | 1,160,149 | 1,121,525 | 1,090,991 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS IN OPERATING PARTNERSHIP AND EQUITY | 719,065 | 869,648 | 1,022,002 | 1,160,149 | 1,121,525 | 1,090,991 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||