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Stockholders' Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
As of December 31, 2022, we have issued 611,411,382 shares of common stock. In addition, we issue OP Units from time to time which, upon vesting, are redeemable for shares of our common stock on a one-for-one basis or, in our sole discretion, cash and are reflected as non-controlling interests on our consolidated balance sheets and statements of equity. As of December 31, 2022, 1,737,395 outstanding OP Units are redeemable.
During the years ended December 31, 2022, 2021, and 2020, we issued 10,365,944, 33,927,772, and 25,474,941 shares of common stock, respectively.
2021 Public Offering
During the year ended December 31, 2021, we completed an underwritten public offering of 14,375,000 shares of our common stock, including 1,875,000 shares sold pursuant to the underwriters’ full exercise of the option to purchase additional shares. This offering generated net proceeds of $571,201, after giving effect to commissions and other costs totaling $3,799.
2020 Public Offering
On June 4, 2020, we completed an underwritten public offering of 16,675,000 shares of our common stock, including 2,175,000 shares sold pursuant to the underwriters’ full exercise of the option to purchase additional shares. During the year ended December 31, 2020, this offering generated net proceeds of $447,533, after giving effect to commissions and other costs totaling $6,861.
At the Market Equity Program
On December 20, 2021, we entered into distribution agreements with a syndicate of banks (the “Agents” and the “Forward Sellers”), pursuant to which we may sell, from time to time, up to an aggregate sales price of $1,250,000 of our common stock through the Agents and the Forward Sellers (the “2021 ATM Equity Program”). In addition to the issuance of shares of our common stock, the distribution agreements permit us to enter into separate forward sale transactions with certain forward purchasers who may borrow shares from third parties and, through affiliated Forward Sellers, offer a number of shares of our common stock equal to the number of shares of our common stock underlying the particular forward transaction. During the year ended December 31, 2022, we sold 2,438,927 shares of our common stock under our 2021 ATM Equity Program, generating net proceeds of $98,367, after giving effect to Agent commissions and other costs totaling $1,633. We did not sell any shares of our common stock under the 2021 ATM Equity Program during the year ended December 31, 2021. As of December 31, 2022, $1,150,000 remains available for future offerings under the 2021 ATM Equity Program.
On August 22, 2019, we entered into distribution agreements with a syndicate of banks, pursuant to which we sold, from time to time, up to an aggregate sales price of $800,000 of our common stock (the “2019 ATM Equity Program”). During the years ended December 31, 2021 and 2020, we sold 9,008,528 and 8,413,224 shares of our common stock, respectively, under our 2019 ATM Equity Program, generating net proceeds of $362,589 and $239,190, respectively, after giving effect to agent commissions and other costs totaling $6,225 and $3,851, respectively. We terminated the 2019 ATM Equity Program immediately after entering into the 2021 ATM Equity Program.
Dividends
To qualify as a REIT, we are required to distribute annually to our stockholders at least 90% of our REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our net taxable income. We intend to pay quarterly dividends to our stockholders that in the aggregate are approximately equal to or exceed our net taxable income in the relevant year. The timing, form, and amount of distributions, if any, to our stockholders, will be at the sole discretion of our board of directors.
The following table summarizes our dividends declared from January 1, 2021 through December 31, 2022:
Record DateAmount
per Share		Pay DateTotal Amount Declared
Q4-2022November 8, 2022$0.22 November 23, 2022$135,654 
Q3-2022August 9, 20220.22 August 26, 2022135,042 
Q2-2022May 10, 20220.22 May 27, 2022134,744 
Q1-2022February 14, 20220.22 February 28, 2022134,240 
Q4-2021November 9, 20210.17 November 24, 2021102,180 
Q3-2021August 10, 20210.17 August 27, 202198,965 
Q2-2021May 11, 20210.17 May 28, 202197,054 
Q1-2021February 10, 20210.17 February 26, 202196,933 
On February 2, 2023, our board of directors declared a dividend of $0.26 per share to stockholders of record on February 14, 2023, which is payable on February 28, 2023 (see Note 15).