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Redeemable Preferred Stock (Tables)
 9 Months Ended
Sep. 30, 2024
Temporary Equity [Abstract]  
Summary of the Activity of Temporary Equity
The issuance activity of the Series J Preferred Stock is summarized below (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series J Preferred Stock shares issued (1)
980 1,048 2,697 2,535 
Net proceeds$22,045 $23,583 $60,674 $57,041 
________
(1)Exclusive of shares issued under the DRIP.
The redemption value adjustment of Series J Preferred Stock is summarized below (in thousands):
September 30, 2024December 31, 2023
Series J Preferred Stock$141,809 $79,975 
Cumulative adjustments to Series J Preferred Stock (1)
5,456 3,473 
________
(1)Reflects the excess of the redemption value over the accumulated carrying value.
The following table summarizes dividends declared (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series J Preferred Stock$2,947 $1,130 $7,420 $1,881 
The following table summarizes Series J Preferred Stock redemptions settled in cash (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series J Preferred Stock shares redeemed— 1 — 3 
Redemption amount, net of redemption fees$— $22 $— $75 
The following table summarizes Series J Preferred Stock redemptions settled in common stock (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series J Preferred Stock shares redeemed
52 — 70— 
Redemption amount, net of redemption fees$1,184 $— $1,610 $— 
Common shares issued upon redemption
138 — 175— 
The issuance activity of the Series K Preferred Stock is summarized below (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series K Preferred Stock shares issued (1)
174 82 344 152 
Net proceeds$4,206 $1,999 $8,338 $3,695 
________
(1)Exclusive of shares issued under the DRIP.
The redemption value adjustment of Series K Preferred Stock is summarized below (in thousands):
September 30, 2024December 31, 2023
Series K Preferred Stock$13,024 $4,783 
Cumulative adjustments to Series K Preferred Stock (1)
416 146 
________
(1)Reflects the excess of the redemption value over the accumulated carrying value.
The following table summarizes dividends declared (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series K Preferred Stock$236 $61 $526 $98 
The following table summarizes Series K Preferred Stock redemptions settled by the issuance of common stock (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Series K Preferred Stock shares redeemed
6 — 12 — 
Redemption amount, net of redemption fees$122 $— $291 $— 
Common shares issued upon redemption
14 — 28 —