v3.19.3

Financial Highlights (Tables) | 9 Months Ended
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Sep. 30, 2019
Investment Company, Financial Highlights [Abstract] |
Results of Operations For a Share Outstanding | Results of Operations for a Share Outstanding Throughout the Periods:
|  | Three-Month Period Ended September 30, 2018 |  | Nine-Month Period Ended September 30, 2018
Beginning Shareholders' Equity Per Share (6/30/2018 and 12/31/2017, respectively) |  | $ | 19.89 |  |  | $ | 19.15 |
Net Investment Income |  | 0.39 |  |  | 1.08 |
Net Realized/Unrealized Gains (Losses) |  | (0.14 | ) |  | 0.60 |
Results of Operations Attributable to Equity |  | 0.25 |  |  | 1.68 |
Less: Results of Operations Attributable to Non-controlling Interests |  | (0.03 | ) |  | (0.07 | )
Results of Operations Attributable to Shareholders' Equity(1) |  | 0.22 |  |  | 1.61 |
Dividends Paid to Common Shareholders |  | (0.41 | ) |  | (1.23 | )
Weighted Average Share Impact on Dividends Paid (2) |  | (0.01 | ) |  | (0.03 | )
Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest |  | — |  |  | 0.19 |
Ending Shareholders' Equity Per Share (9/30/2018)(3) |  | $ | 19.69 |  |  | $ | 19.69 |
Shares Outstanding, end of period |  | 30,155,055 |  |  | 30,155,055 |
(1) | Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 13).
(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, 2018 shareholders' equity per share would be $19.37.
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 September 30, 2018 |  | Nine-Month Period Ended September 30, 2018
Total Return |  | 1.10% |  | 9.43%
(1) | Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period.
Net Investment Income Ratio to Average Equity | Net Investment Income Ratio to Average Equity: (1)(2)
|  | Three-Month Period Ended September 30, 2018 |  | Nine-Month Period Ended September 30, 2018
Net Investment Income |  | 7.75% |  | 7.20%
(1) | Average equity is calculated using month end values.
(2) | Includes all items of income and expense on an annualized basis except for incentive fee expense which is included on a non-annualized basis.
Expense Ratios to Average Equity | Expense Ratios to Average Equity: (1)(2)
|  | Three-Month Period Ended September 30, 2018 |  | Nine-Month Period Ended September 30, 2018
Operating expenses, before interest expense and other investment related expenses |  | (2.70)% |  | (2.79)%
Incentive fee |  | (0.07)% |  | (0.12)%
Interest expense and other investment related expenses |  | (12.97)% |  | (11.26)%
Total Expenses |  | (15.74)% |  | (14.17)%
(1) | Average equity is calculated using month end values.

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