Consolidated Statements of Changes in Equity - USD ($) |
Total |
Series B Preferred Stock [Member] |
Series C Preferred Stock [Member] |
Series D Preferred Stock [Member] |
Preferred Stock [Member] |
Common Stock [Member] |
Additional Paid-In Capital [Member] |
Unearned ESOP Shares [Member] |
Distributions in Excess of Retained Earnings [Member] |
Distributions in Excess of Retained Earnings [Member]
Series B Preferred Stock [Member]
|
Distributions in Excess of Retained Earnings [Member]
Series C Preferred Stock [Member]
|
Distributions in Excess of Retained Earnings [Member]
Series D Preferred Stock [Member]
|
Noncontrolling Interest [Member] |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Balances, beginning at Dec. 31, 2022 | $ 51,520,723 | $ 39,733 | $ 189,515 | $ 175,611,370 | $ (2,601,134) | $ (120,985,183) | $ (733,578) | ||||||
Balances, shares, beginning at Dec. 31, 2022 | 3,973,310 | 18,951,525 | |||||||||||
Net Income (loss) | 1,387,514 | 1,412,474 | (24,960) | ||||||||||
Issuance of common stock | 121,485 | $ 643 | 120,842 | ||||||||||
Issuance of common stock, shares | 64,278 | ||||||||||||
Issuance of restricted common stock awards | 103,901 | $ 2,200 | 101,701 | ||||||||||
Issuance of restricted common stock awards, shares | 220,000 | ||||||||||||
Amortization of ESOP shares | 12,195 | (33,439) | 45,634 | ||||||||||
Amortization of restricted stock awards | 22,883 | 22,883 | |||||||||||
Balances, ending at Mar. 31, 2023 | 53,168,701 | $ 39,733 | $ 192,358 | 175,823,357 | (2,555,500) | (119,572,709) | (758,538) | ||||||
Balances, shares, ending at Mar. 31, 2023 | 3,973,310 | 19,235,803 | |||||||||||
Balances, beginning at Dec. 31, 2022 | 51,520,723 | $ 39,733 | $ 189,515 | 175,611,370 | (2,601,134) | (120,985,183) | (733,578) | ||||||
Balances, shares, beginning at Dec. 31, 2022 | 3,973,310 | 18,951,525 | |||||||||||
Net Income (loss) | 4,579,359 | ||||||||||||
Balances, ending at Sep. 30, 2023 | 50,487,858 | $ 39,733 | $ 196,968 | 176,304,184 | (2,464,231) | (122,338,042) | (1,250,754) | ||||||
Balances, shares, ending at Sep. 30, 2023 | 3,973,310 | 19,696,805 | |||||||||||
Balances, beginning at Mar. 31, 2023 | 53,168,701 | $ 39,733 | $ 192,358 | 175,823,357 | (2,555,500) | (119,572,709) | (758,538) | ||||||
Balances, shares, beginning at Mar. 31, 2023 | 3,973,310 | 19,235,803 | |||||||||||
Net Income (loss) | 5,257,670 | 5,126,872 | 130,798 | ||||||||||
Conversion of units in Operating Partnership to shares of common stock | $ 750 | 426,049 | (426,799) | ||||||||||
Conversion of units in Operating Partnership to shares of common stock, shares | 75,000 | ||||||||||||
Preferred stock dividend declared | $ (1,464,100) | $ (1,325,078) | $ (1,199,447) | $ (1,464,100) | $ (1,325,078) | $ (1,199,447) | |||||||
Amortization of ESOP shares | 12,717 | (32,916) | 45,633 | ||||||||||
Amortization of restricted stock awards | 41,771 | 41,771 | |||||||||||
Balances, ending at Jun. 30, 2023 | 54,492,234 | $ 39,733 | $ 193,108 | 176,258,261 | (2,509,867) | (118,434,462) | (1,054,539) | ||||||
Balances, shares, ending at Jun. 30, 2023 | 3,973,310 | 19,310,803 | |||||||||||
Net Income (loss) | (2,065,826) | (1,909,268) | (156,558) | ||||||||||
Conversion of units in Operating Partnership to shares of common stock | $ 3,860 | 35,797 | (39,657) | ||||||||||
Conversion of units in Operating Partnership to shares of common stock, shares | 386,002 | ||||||||||||
Preferred stock dividend declared | (732,050) | (662,539) | (599,723) | (732,050) | (662,539) | (599,723) | |||||||
Amortization of ESOP shares | 13,992 | (31,644) | 45,636 | ||||||||||
Amortization of restricted stock awards | 41,770 | 41,770 | |||||||||||
Balances, ending at Sep. 30, 2023 | 50,487,858 | $ 39,733 | $ 196,968 | 176,304,184 | (2,464,231) | (122,338,042) | (1,250,754) | ||||||
Balances, shares, ending at Sep. 30, 2023 | 3,973,310 | 19,696,805 | |||||||||||
Balances, beginning at Dec. 31, 2023 | 47,898,659 | $ 39,733 | $ 196,968 | 175,779,222 | (1,764,507) | (125,021,013) | (1,331,744) | ||||||
Balances, shares, beginning at Dec. 31, 2023 | 3,973,310 | 19,696,805 | |||||||||||
Net Income (loss) | 1,322,821 | 1,334,939 | (12,118) | ||||||||||
Issuance of common stock | 204,925 | $ 1,524 | 203,401 | ||||||||||
Issuance of common stock, shares | 152,360 | ||||||||||||
Preferred stock dividend declared | (732,050) | (662,539) | (599,723) | (732,050) | (662,539) | (599,723) | |||||||
Amortization of ESOP shares | 6,756 | (26,542) | 33,298 | ||||||||||
Amortization of restricted stock awards | 44,270 | 44,270 | |||||||||||
Balances, ending at Mar. 31, 2024 | 47,483,119 | $ 39,733 | $ 198,492 | 176,000,351 | (1,731,209) | (125,680,386) | (1,343,862) | ||||||
Balances, shares, ending at Mar. 31, 2024 | 3,973,310 | 19,849,165 | |||||||||||
Balances, beginning at Dec. 31, 2023 | 47,898,659 | $ 39,733 | $ 196,968 | 175,779,222 | (1,764,507) | (125,021,013) | (1,331,744) | ||||||
Balances, shares, beginning at Dec. 31, 2023 | 3,973,310 | 19,696,805 | |||||||||||
Net Income (loss) | 2,297,431 | ||||||||||||
Balances, ending at Sep. 30, 2024 | 44,564,392 | $ 39,733 | $ 198,492 | 176,029,053 | (1,664,624) | (128,662,378) | (1,375,884) | ||||||
Balances, shares, ending at Sep. 30, 2024 | 3,973,310 | 19,849,165 | |||||||||||
Balances, beginning at Mar. 31, 2024 | 47,483,119 | $ 39,733 | $ 198,492 | 176,000,351 | (1,731,209) | (125,680,386) | (1,343,862) | ||||||
Balances, shares, beginning at Mar. 31, 2024 | 3,973,310 | 19,849,165 | |||||||||||
Net Income (loss) | 4,664,232 | 4,616,081 | 48,151 | ||||||||||
Preferred stock dividend declared | (732,050) | (662,539) | (599,722) | (732,050) | (662,539) | (599,722) | |||||||
Amortization of ESOP shares | 6,060 | (27,233) | 33,293 | ||||||||||
Amortization of restricted stock awards | 41,770 | 41,770 | |||||||||||
Balances, ending at Jun. 30, 2024 | 50,200,870 | $ 39,733 | $ 198,492 | 176,014,888 | (1,697,916) | (123,058,616) | (1,295,711) | ||||||
Balances, shares, ending at Jun. 30, 2024 | 3,973,310 | 19,849,165 | |||||||||||
Net Income (loss) | (3,689,621) | (3,609,448) | (80,173) | ||||||||||
Preferred stock dividend declared | $ (732,051) | $ (662,540) | $ (599,723) | $ (732,051) | $ (662,540) | $ (599,723) | |||||||
Amortization of ESOP shares | 5,687 | (27,605) | 33,292 | ||||||||||
Amortization of restricted stock awards | 41,770 | 41,770 | |||||||||||
Balances, ending at Sep. 30, 2024 | $ 44,564,392 | $ 39,733 | $ 198,492 | $ 176,029,053 | $ (1,664,624) | $ (128,662,378) | $ (1,375,884) | ||||||
Balances, shares, ending at Sep. 30, 2024 | 3,973,310 | 19,849,165 |