Financial Highlights (Tables)
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9 Months Ended |
Sep. 30, 2017 |
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| Investment Company, Financial Highlights [Abstract] |
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| Results of Operations For a Share Outstanding |
Results of Operations for a Share Outstanding Throughout the Periods: | | | | | | | | | | | | | | | | | | | | Three Month Period Ended | | Nine Month Period Ended | | | September 30, 2017 | | September 30, 2016 | | September 30, 2017 | | September 30, 2016 | Beginning Shareholders' Equity Per Share (6/30/2017, 6/30/2016, 12/31/2016, and 12/31/2015, respectively) | | $ | 19.49 |
| | $ | 20.58 |
| | $ | 19.75 |
| | $ | 22.10 |
| Net Investment Income | | 0.25 |
| | 0.20 |
| | 0.87 |
| | 0.81 |
| Net Realized/Unrealized Gains (Losses) | | (0.05 | ) | | (0.18 | ) | | — |
| | (1.35 | ) | Results of Operations Attributable to Equity | | 0.20 |
| | 0.02 |
| | 0.87 |
| | (0.54 | ) | Less: Results of Operations Attributable to Non-controlling Interests | | (0.01 | ) | | — |
| | (0.04 | ) | | — |
| Results of Operations Attributable to Shareholders' Equity(1) | | 0.19 |
| | 0.02 |
| | 0.83 |
| | (0.54 | ) | Dividends Paid to Common Shareholders | | (0.45 | ) | | (0.50 | ) | | (1.35 | ) | | (1.50 | ) | Weighted Average Share Impact on Dividends Paid (2) | | (0.01 | ) | | (0.01 | ) | | (0.03 | ) | | (0.03 | ) | Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest | | 0.02 |
| | 0.02 |
| | 0.04 |
| | 0.08 |
| Ending Shareholders' Equity Per Share (9/30/2017, 9/30/2016, 9/30/2017, and 9/30/2016, respectively)(3) | | $ | 19.24 |
| | $ | 20.11 |
| | $ | 19.24 |
| | $ | 20.11 |
| Shares Outstanding, end of period | | 31,992,177 |
| | 32,619,060 |
| | 31,992,177 |
| | 32,619,060 |
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| | (1) | Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 11). |
| | (2) | Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders. |
| | (3) | If all LTIP Units and OP Units previously issued were vested and exchanged for common shares as of September 30, 2017 and 2016, shareholders' equity per share would be $18.96 and $19.83, respectively. |
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| Net Asset Value Based Total Return For a Shareholder |
The following table illustrates the Company's total return for the periods presented based on net asset value: Net Asset Value Based Total Return for a Shareholder: (1) | | | | | | | | | | | | Three Month Period Ended | | Nine Month Period Ended | | | September 30, 2017 | | September 30, 2016 | | September 30, 2017 | | September 30, 2016 | Total Return | | 1.05% | | 0.13% | | 4.40% | | (2.25)% |
| | (1) | Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period. |
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| Net Investment Income Ratio to Average Equity |
Net Investment Income Ratio to Average Equity: (1)(2) | | | | | | | | | | | | Three Month Period Ended | | Nine Month Period Ended | | | September 30, 2017 | | September 30, 2016 | | September 30, 2017 | | September 30, 2016 | Net Investment Income | | 4.95% | | 3.80% | | 5.86% | | 5.14% |
| | (1) | Average equity is calculated using month end values. |
| | (2) | Includes all items of income and expense on an annualized basis. |
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| Expense Ratios to Average Equity |
Expense Ratios to Average Equity: (1)(2) | | | | | | | | | | | | Three Month Period Ended | | Nine Month Period Ended | | | September 30, 2017 | | September 30, 2016 | | September 30, 2017 | | September 30, 2016 | Operating expenses, before interest expense and other investment related expenses | | (2.76)% | | (2.89)% | | (2.80)% | | (2.88)% | Interest expense and other investment related expenses | | (6.32)% | | (3.69)% | | (5.69)% | | (3.43)% | Total Expenses | | (9.08)% | | (6.58)% | | (8.49)% | | (6.31)% |
| | (1) | Average equity is calculated using month end values. |
| | (2) | Includes all items of income and expense on an annualized basis. |
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