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Stockholders' Equity
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
As of March 31, 2024, we have issued 612,485,098 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 condensed consolidated balance sheets and statements of equity. As of March 31, 2024, 1,986,509 outstanding OP Units are redeemable.
During the three months ended March 31, 2024 and 2023, we issued 526,859 and 452,398, shares of common stock, respectively.
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 three months ended March 31, 2024 and 2023, we did not sell any shares of common stock under the 2021 ATM Equity Program. As of March 31, 2024, $1,150,000 remains available for future offerings under 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 paid from January 1, 2023 through March 31, 2024:
Record DateAmount
per Share		Pay DateTotal Amount Paid
Q1-2024December 27, 2023$0.28 January 19, 2024$171,721 
Q4-2023November 7, 20230.26 November 22, 2023160,350 
Q3-2023August 8, 20230.26 August 25, 2023160,540 
Q2-2023May 10, 20230.26 May 26, 2023159,493 
Q1-2023February 14, 20230.26 February 28, 2023158,453 
On March 14, 2024, our board of directors declared a dividend of $0.28 per share to stockholders of record on March 28, 2024, which was paid on April 19, 2024