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Stockholder Equity and Noncontrolling Interest | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Stockholder Equity and Noncontrolling Interest | NOTE 6: Stockholder Equity and Noncontrolling Interest Stockholder Equity On August 4, 2017, we entered into an At-the-Market Issuance Sales Agreement (the “ATM Sales Agreement”) with various sales agents. Pursuant to the ATM Sales Agreement, we may offer and sell shares of our common stock, $0.01 par value per share, having an aggregate offering price of up to $150,000, from time to time through the sales agents. The sales agents are entitled to compensation in an agreed amount not to exceed 2.0% of the gross sales price per share for any shares sold from time to time under the ATM Sales Agreement. We have no obligation to sell any of the shares under the ATM Sales Agreement and may at any time suspend solicitations and offers under the ATM Sales Agreement. During the year ended December 31, 2019, 1,717,291 shares were issued at an average price of $12.82 per share, resulting in $21,258 of net proceed, after deducting $434 of commissions. Pursuant to the Sales Agreement $93,549 remained available for issuance as of December 31, 2019. On September 11, 2017 in connection with the acquisition of the HPI Portfolio, we issued 12,500,000 shares of our common stock at a public offering price of $9.25 per share. We also closed on the underwriters’ option to purchase an additional 1,875,000 shares of common stock at the public offering price. As a result of the offering and exercise or the underwriters’ option, we received approximately $126,100 in net proceeds, after deducting the underwriting discount and offering expenses. Our board of directors declared the following dividends in 2019:
Quarter |  | Declaration Date |  | Record Date |  | Payment Date |  | Dividend Declared Per Share |
First quarter 2019 |  | March 18, 2019 |  | March 29 2019 |  | April 25, 2019 |  | $ | 0.18 |
Second quarter 2019 |  | June 17, 2019 |  | June 28, 2019 |  | July 25, 2019 |  | $ | 0.18 |
Third quarter 2019 |  | September 12, 2019 |  | September 27, 2019 |  | October 25, 2019 |  | $ | 0.18 |
Fourth quarter 2019 |  | December 16, 2019 |  | December 26, 2019 |  | January 24, 2020 |  | $ | 0.18 |
Our board of directors declared the following dividends in 2018:
Quarter |  | Declaration Date |  | Record Date |  | Payment Date |  | Dividend Declared Per Share |
First quarter 2018 |  | March 13, 2018 |  | April 4, 2018 |  | April 20, 2018 |  | $ | 0.18 |
Second quarter 2018 |  | June 13, 2018 |  | July 7, 2018 |  | July 20, 2018 |  | $ | 0.18 |
Third quarter 2018 |  | September 17, 2018 |  | October 5, 2018 |  | October 19, 2018 |  | $ | 0.18 |
Fourth quarter 2018 |  | December 13, 2018 |  | December 27, 2018 |  | January 24, 2019 |  | $ | 0.18 |
Noncontrolling Interest During 2019, holders of IROP units exchanged 9,616 units for 9,616 shares of our common stock. As of December 31, 2019, 871,491 IROP units held by unaffiliated third parties remain outstanding with a redemption value of $12,271, based on IRT’s stock price of $14.08 as of December 31, 2019. During 2018, holders of IROP units exchanged 2,130,244 units for 2,130,244 shares of our common stock. As of December 31, 2018, 881,107 IROP units held by unaffiliated third parties remain outstanding with a redemption value of $8,089, based on IRT’s stock price of $9.18 as of December 31, 2018. Our board of directors declared the following distributions on our operating partnership’s LP units during 2019:
Quarter |  | Declaration Date |  | Record Date |  | Payment Date |  | Dividend Declared Per Share |
First quarter 2019 |  | March 18, 2019 |  | March 29 2019 |  | April 25, 2019 |  | $ | 0.18 |
Second quarter 2019 |  | June 17, 2019 |  | June 28, 2019 |  | July 25, 2019 |  | $ | 0.18 |
Third quarter 2019 |  | September 12, 2019 |  | September 27, 2019 |  | October 25, 2019 |  | $ | 0.18 |
Fourth quarter 2019 |  | December 16, 2019 |  | December 26, 2019 |  | January 24, 2020 |  | $ | 0.18 |
Our board of directors declared the following distributions on our operating partnership’s LP units during 2018:
Quarter |  | Declaration Date |  | Record Date |  | Payment Date |  | Dividend Declared Per Share |
First quarter 2018 |  | March 13, 2018 |  | April 4, 2018 |  | April 20, 2018 |  | $ | 0.18 |
Second quarter 2018 |  | June 13, 2018 |  | July 7, 2018 |  | July 20, 2018 |  | $ | 0.18 |
Third quarter 2018 |  | September 17, 2018 |  | October 5, 2018 |  | October 19, 2018 |  | $ | 0.18 |
Fourth quarter 2018 |  | December 13, 2018 |  | December 27, 2018 |  | January 24, 2019 |  | $ | 0.18 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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