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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2023
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders' Equity Distributions Payable As of September 30, 2023, the Company had distributions payable of approximately $7,518,000. Of these distributions payable, approximately $5,502,000 was paid in cash on October 6, 2023, and approximately $2,016,000 was reinvested in shares of common stock pursuant to our distribution reinvestment plan, or the DRIP, effective October 1, 2023. Share Repurchase Program The Company’s Amended and Restated Share Repurchase Program allows for repurchases of shares of the Company’s common stock upon meeting certain criteria. During the nine months ended September 30, 2023, the Company repurchased 1,145,071 Class A shares, Class I shares and Class T shares of common stock (879,861 Class A shares, 102,570 Class I shares and 162,640 Class T shares), for an aggregate purchase price of approximately $9,376,000 (an average of $8.19 per share). During the nine months ended September 30, 2022, the Company repurchased 786,861 Class A shares, Class I shares and Class T shares of common stock (690,494 Class A shares, 20,905 Class I shares and 75,462 Class T shares), for an aggregate purchase price of approximately $6,452,000 (an average of $8.20 per share). Accumulated Other Comprehensive Income The following table presents a rollforward of amounts recognized in accumulated other comprehensive income by component for the nine months ended September 30, 2023 and 2022 (amounts in thousands):
|  | Unrealized Income on Derivative Instruments
Balance as of December 31, 2022 |  | $ | 27,990 |
Other comprehensive income before reclassification |  | 13,550 |
Amount of income reclassified from accumulated other comprehensive income to net income |  | (12,117) |
Other comprehensive income |  | 1,433 |
Balance as of September 30, 2023 |  | $ | 29,423 |
|  | Unrealized Income on Derivative Instruments
Balance as of December 31, 2021 |  | $ | (4,847) |
Other comprehensive income before reclassification |  | 31,545 |
Amount of loss reclassified from accumulated other comprehensive loss to net income |  | 2,912 |
Other comprehensive income |  | 34,457 |
Balance as of September 30, 2022 |  | $ | 29,610 |
The following table presents reclassifications out of accumulated other comprehensive income for the nine months ended September 30, 2023 and 2022 (amounts in thousands):
Details about Accumulated Other Comprehensive Income Components |  | (Income) Loss Amounts Reclassified from Accumulated Other Comprehensive Income to Net Income |  | Affected Line Items in the Condensed Consolidated Statements of Comprehensive Income
|  | Nine Months Ended September 30, |  |
|  | 2023 |  | 2022 |  |  |  |
Interest rate swap contracts |  | $ | (12,117) |  |  | $ | 2,912 |  |  |  |  | Interest and other expense, net

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