Noncontrolling Interests |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Noncontrolling Interest [Abstract] | |
| Noncontrolling Interests | Noncontrolling Interests Overview Noncontrolling interests represent the limited partnership interest ("LPI Units") in the Operating Partnership not held by the Company. Net income allocated to noncontrolling interest is based on LPI Unitholders' ownership percentage in the Operating Partnership. As of June 30, 2026 and December 31, 2025, noncontrolling interests represented approximately 357,380 and 357,442 LPI Units, respectively, or 1.7% ownership interest in the Operating Partnership. Allocation of Net Income Net income allocated to the Operating Partnership noncontrolling interest for the three months ended June 30, 2026 and 2025 was approximately $101 thousand and $126 thousand, respectively. Net income allocated to the Operating Partnership noncontrolling interest for the six months ended June 30, 2026 and 2025 was approximately $199 thousand and $234 thousand, respectively. Redemption and Conversion Activity During the three and six months ended June 30, 2026, 0 and 62 LPI Units were converted to common stock, respectively. During the three and six months ended June 30, 2025, 0 and 15,198 LPI Units were redeemed for cash by the Company, respectively.
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