@dkg62 – to make clear what's going on, select the text frame and show us another screenshot.
There are at least four cases where you can get a text like that. All cases imply, that the font you'd like to use is missing. I simulated this by formatting text with a font weight that is not available by a character style.
1. The most likely case: There is baseline shift applied; here in my case 9pt.
All other cases are academical, because the pink highlighting is aligned with the text:
2. Text frame options, baseline set to a fixed value (zero in this case)
3. Text on path and the text frame options (baseline) is just the standard default. You can see a second #-end of story sign inside the text frame.
4. Text on path and the text frame options (baseline) is set to fixed (zero in this case). The second #-sign inside the text frame is shifted above because of the fixed value of the baseline option of the text frame options. And obscured by the pink highlighting.
Uwe