v3.21.2
Condensed Consolidated Statements of Stockholders' Equity and Mezzanine Equity (Unaudited) - USD ($)
$ in Thousands
Total
Class A Common Stock
Mezzanine Equity Common Stock
Mezzanine Equity Non-controlling Interests
Common Stock
Additional Paid-in Capital
Cumulative Distributions in Excess of Retained Earnings
Accumulated Other Comprehensive Loss
Non-controlling Interests
Beginning Balance at Dec. 31, 2019 $ 1,779,020 $ 0     $ 26 $ 1,895,935 $ (208,261) $ (20,086) $ 111,406
Net income loss       $ 322         710
Net income 11,526           10,816    
Issuance of shares of common stock 6,097         6,097      
Adjustment to carrying value of mezzanine equity non-controlling interests (2,416) 0     0 (2,416) 0 0 0
Distributions declared (37,399) 0     0 0 (35,299) 0 (2,100)
Change in fair value of interest rate swap agreements (56,486) 0     0 0 0 (53,014) (3,472)
Realized gain on interest rate swap agreements 40 0     0 0 0 38 2
Ending Balance at Mar. 31, 2020 1,699,979 0     26 1,899,616 (233,067) (73,138) 106,542
Beginning Balance at Dec. 31, 2019 0   $ 0 0          
Cumulative effect of accounting change (323) 0     0 0 (323) 0 0
Net income 322                
Issuance shares of mezzanine equity common stock 66,376   66,376 0          
Issuance of mezzanine non-controlling interests 112,159   0 112,159          
Adjustment to carrying value of mezzanine equity non-controlling interests 2,416     2,416          
Distributions declared (1,161)   0 (1,161)          
Change in fair value of interest rate swap agreements (1,576)   0 (1,576)          
Realized gain on interest rate swap agreements (2)   0 (2)          
Ending Balance at Mar. 31, 2020 178,534   66,376 112,158          
Beginning Balance at Dec. 31, 2019 1,779,020 0     26 1,895,935 (208,261) (20,086) 111,406
Net income loss 38,657                
Adjustment to carrying value of mezzanine equity non-controlling interests 2,513                
Conversion of OP Units to shares of common stock           0      
Ending Balance at Sep. 30, 2020 2,421,707 8     27 2,506,008 (239,520) (74,729) 229,913
Beginning Balance at Dec. 31, 2019 0   0 0          
Beginning Balance at Mar. 31, 2020 1,699,979 0     26 1,899,616 (233,067) (73,138) 106,542
Net income 16,345           15,353   992
Issuance of shares of common stock 232 0       232 0   0
Adjustment to carrying value of mezzanine equity non-controlling interests 97 0     0 (97) 0 0 0
Distributions declared (12,518) 0     0 0 (11,817) 0 (701)
Change in fair value of interest rate swap agreements 5,789 0     0 0 0 (5,438) (351)
Realized gain on interest rate swap agreements 40 0     0 0 0 37 3
Ending Balance at Jun. 30, 2020 1,698,112 0     26 1,899,751 (229,531) (78,613) 106,479
Beginning Balance at Mar. 31, 2020 178,534   66,376 112,158          
Net income 753     753          
Issuance shares of mezzanine equity common stock 0   0 0          
Adjustment to carrying value of mezzanine equity non-controlling interests       97          
Distributions declared (581)   0 (581)          
Change in fair value of interest rate swap agreements (267)   0 (267)          
Realized gain on interest rate swap agreements (1)   0 (1)          
Ending Balance at Jun. 30, 2020 178,535   66,376 112,159          
Net income loss 9,711                
Net income 9,337           8,750   587
Issuance of shares of common stock                 0
Offering costs, discounts and commissions (37,180)         (37,180)      
Stock-based compensation 796         796      
Issuance of shares of Class A common stock 569,500 8       569,492      
Reclassification of portion of contingent earnout liability 18,436         6,809     11,627
Reclassification of shares of mezzanine equity common stock to shares of common stock 66,376       1 66,375      
Reclassification of mezzanine equity non-controlling interests to non-controlling interests 112,698               112,698
Repurchase of fractional OP Units (1)               (1)
Repurchase of fractional shares of common stock (35)         (35)      
Conversion of OP Units to shares of common stock           0      
Distributions declared (20,477)           (18,739)   (1,738)
Change in fair value of interest rate swap agreements 4,185             3,921 264
Realized gain on interest rate swap agreements (40)             (37) (3)
Ending Balance at Sep. 30, 2020 2,421,707 8     27 2,506,008 (239,520) (74,729) 229,913
Net income 374     374          
Reclassification of shares of mezzanine equity common stock to shares of common stock (66,376)   $ (66,376)            
Reclassification of mezzanine equity non-controlling interests to non-controlling interests (112,698)     (112,698)          
Change in fair value of interest rate swap agreements 167     167          
Realized gain on interest rate swap agreements 2     $ 2          
Beginning Balance at Dec. 31, 2020 2,479,081 9     27 2,624,997 (259,673) (66,255) 179,976
Net income loss 23,960 0     0 0 22,223 0 1,737
Issuance of shares of common stock 233 0     0 233 0 0 0
Offering costs, discounts and commissions 500 0     0 500 0 0 0
Stock-based compensation 1,769 0     0 1,769 0 0 0
Retirement of shares of restricted common stock 832 0     0 832 0 0 0
Conversion of 37,000 Class A common stock to 37,000 shares of common stock 0 (9)     9 0 0 0 0
Conversion of OP Units to shares of common stock 0 0     0 606 0 0 (606)
Distributions declared (39,653) 0     0 0 (36,690) 0 (2,963)
Change in fair value of interest rate swap agreements 28,680 0     0 0 0 26,602 2,078
Realized gain on interest rate swap agreements 41 0     0 0 0 39 2
Adjustment to non-controlling interests 0 0     0 (953) 0 1,008 (55)
Ending Balance at Mar. 31, 2021 2,492,697 0     36 2,625,320 (274,140) (38,684) 180,165
Beginning Balance at Dec. 31, 2020 2,479,081 9     27 2,624,997 (259,673) (66,255) 179,976
Net income loss 77,302                
Conversion of OP Units to shares of common stock 46,220         46,220      
Ending Balance at Sep. 30, 2021 2,716,125       40 2,895,219 (305,665) (37,590) 164,121
Beginning Balance at Mar. 31, 2021 2,492,697 0     36 2,625,320 (274,140) (38,684) 180,165
Net income loss 22,820 0     0 0 21,214 0 1,606
Issuance of shares of common stock 264,799 0     4 264,795 0 0 0
Issuance of 248 OP Units 0 0     0 0 0 0 0
Offering costs, discounts and commissions 11,013 0     0 11,013 0 0 0
Stock-based compensation 951 0     0 951 0 0 0
Retirement of shares of restricted common stock 309 0     0 309 0 0 0
Conversion of 37,000 Class A common stock to 37,000 shares of common stock 0 0     0 17,859 0 0 (17,859)
Distributions declared (43,484) 0     0 0 (40,696) 0 (2,788)
Change in fair value of interest rate swap agreements (2,911) 0     0 0 0 (2,708) (203)
Realized gain on interest rate swap agreements 42 0     0 0 0 38 4
Adjustment to non-controlling interests 0 0     0 (7,472) 0 (466) 7,938
Ending Balance at Jun. 30, 2021 2,723,508     40 2,890,131 (293,622) (41,896) 168,855
Net income loss 30,522           28,698   1,824
Issuance of shares of common stock 281         281    
Offering costs, discounts and commissions 256         256      
Stock-based compensation 949         949      
Retirement of shares of restricted common stock 75         75      
Forfeitures of common stock value (25)         (25)      
Conversion of OP Units to shares of common stock           27,755     (27,755)
Distributions declared (43,423)           (40,741)   (2,682)
Change in fair value of interest rate swap agreements 4,559             4,287 272
Realized gain on interest rate swap agreements (85)             (80) (5)
Adjustment to non-controlling interests           (23,541)   (61) 23,602
Ending Balance at Sep. 30, 2021 $ 2,716,125       $ 40 $ 2,895,219 $ (305,665) $ (37,590) $ 164,121