The following table reflects the activity of noncontrolling interests for the three months ended March 31, 2023 and 2022, respectively (dollars in thousands): | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | 2023 | | 2022 | | Opening Balance at January 1 | | $ | 163,652 | | | $ | 167,436 | | | Net income | | 3,743 | | | 4,565 | | | Unit distributions | | — | | | 218 | | | Redeemable noncontrolling interests | | (6,827) | | | (6,728) | | | Change in noncontrolling interests in consolidated joint ventures | | (562) | | | 11 | | | Redemption of common units for common stock | | (4,859) | | | — | | | Redemption of common units | | (16) | | | (1,442) | | | Stock compensation | | 393 | | | 2,533 | | |
| Other comprehensive (loss) income | | (87) | | | 196 | | | Rebalancing of ownership percentage between parent and subsidiaries | | 2,002 | | | (1,669) | | | Balance at March 31 | | $ | 157,439 | | | $ | 165,120 | |
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