v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash Flows from Operating Activities:          
Net Income $ 7,445 $ 6,918 $ 13,849 $ 13,912  
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:          
Stock-Based Compensation     434 774  
Loss on Sale of Real Estate 34 0 34 0  
Depreciation and Amortization Expense     7,760 7,194  
Amortization of Debt Issuance Costs     135 134  
Provision for Credit Loss (10) (12) (23) (26)  
Straight-Line Rent Expense     (2) (1)  
Application of Rent Escrow     (446) (274)  
Application of Security Deposit     (43) 0  
Changes in Assets and Liabilities          
Other Assets     213 221  
Accounts Payable and Accrued Expenses     (284) (339)  
Security Deposits     14 447  
Rent Received in Advance     305 (206)  
Other Liabilities     (321) (77)  
Net Cash Provided by Operating Activities     21,625 21,759  
Cash Flows from Investing Activities:          
Funding of Improvement Allowances     0 (11,371) $ (15,145)
Acquisition of Real Estate     (785) (3,993)  
Net Cash Used in Investing Activities     (785) (15,364)  
Cash Flows from Financing Activities:          
Cash Paid for Taxes in Lieu of Issuance of Common Stock     (352) (46)  
Performance Stock Units Settled in Cash     (251) 0  
Common Stock Dividends Paid     (17,653) (16,610)  
Restricted Stock Units and Performance Stock Units Dividends Paid     (376) (114)  
Distributions to LPI Unitholders     (314) (303)  
Cash Redemption of LPI Units     (253) 0  
Borrowings from Revolving Credit Facility     0 6,600  
Principal Repayment on Loan Payable     0 (1,000)  
Deferred Offering Costs     0 (78)  
Net Cash Used in Financing Activities     (19,199) (11,551)  
Net Increase (Decrease) in Cash and Cash Equivalents     1,641 (5,156)  
Cash and Cash Equivalents - Beginning of Period     20,213 25,843 25,843
Cash and Cash Equivalents - End of Period 21,854 20,687 21,854 20,687 20,213
Supplemental Disclosure of Cash Flow Information:          
Interest Paid     233 99  
Supplemental Disclosure of Non-Cash Investing and Financing Activities:          
Dividends and Distributions Declared, Not Paid 9,024 9,009 9,024 9,009 $ 9,246
Nonmonetary Acquisition of Real Estate     950 0  
Nonmonetary Disposition of Real Estate     986 0  
Accrual for Deferred Offering Costs $ 0 $ 143 $ 0 $ 143  

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