v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
REVENUES        
Total revenues $ 6,577 $ 7,455 $ 13,448 $ 14,870
EXPENSES        
Operating, maintenance and management 1,106 1,419 2,725 3,338
Real estate and other property-related taxes 904 1,108 1,874 2,248
Corporate general and administrative 528 833 1,118 1,486
Depreciation and amortization 1,775 1,990 3,562 3,966
Total expenses 4,313 5,350 9,279 11,038
OTHER        
Gain on sales 0 0 0 2,422
Total other 0 0 0 2,422
OPERATING INCOME 2,264 2,105 4,169 6,254
NON-OPERATING INCOME AND EXPENSES        
Interest expense, net (2,149) (2,238) (4,345) (4,224)
Loss on loan prepayment 0 0 0 (718)
Total non-operating income and expenses (2,149) (2,238) (4,345) (4,942)
NET INCOME (LOSS) 115 (133) (176) 1,312
Preferred stock dividends (1,107) (1,447) (2,333) (3,311)
Deemed contributions on preferred stock 565 3,185 2,168 13,434
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS, Basic (427) 1,605 (341) 11,435
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS, Diluted $ (427) $ 1,605 $ (341) $ 11,435
NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, Basic (in dollars per share) $ (0.03) $ 0.12 $ (0.02) $ 0.83
NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, Diluted (in dollars per share) $ (0.03) $ 0.12 $ (0.02) $ 0.83
Weighted average number of common shares, basic (in shares) 13,718,169 13,718,169 13,718,169 13,718,169
Weighted average number of common shares, diluted (in shares) 13,718,169 13,718,169 13,718,169 13,718,169
Rental revenues        
REVENUES        
Total revenues $ 6,288 $ 7,199 $ 13,128 $ 14,591
Other revenues        
REVENUES        
Total revenues $ 289 $ 256 $ 320 $ 279

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