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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2020
Stockholders' Equity Note [Abstract] |
Schedule of Preferred Stock Issued and Outstanding | The following table summarizes the Company’s Preferred Stock issued and outstanding as of September 30, 2020 and December 31, 2019 (dollar amounts in thousands):
Class of Preferred Stock |  | Shares Authorized |  | Shares Issued and Outstanding |  | Carrying Value |  | Liquidation Preference |  | Contractual Rate (1) |  | Redemption Date (2) |  | Fixed-to-Floating Rate Conversion Date (1)(3) |  | Floating Annual Rate (4)
Fixed Rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Series B |  | 6,000,000 |  |  | 3,156,087 |  |  | $ | 76,180 |  |  | $ | 78,902 |  |  | 7.750 | % |  | June 4, 2018 |  |  |  |
Series C |  | 6,600,000 |  |  | 4,181,807 |  |  | 101,102 |  |  | 104,545 |  |  | 7.875 | % |  | April 22, 2020 |  |  |  |
Fixed-to-Floating Rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Series D |  | 8,400,000 |  |  | 6,123,495 |  |  | 148,134 |  |  | 153,087 |  |  | 8.000 | % |  | October 15, 2027 |  | October 15, 2027 |  | 3M LIBOR + 5.695%
Series E |  | 9,900,000 |  |  | 7,411,499 |  |  | 179,349 |  |  | 185,288 |  |  | 7.875 | % |  | January 15, 2025 |  | January 15, 2025 |  | 3M LIBOR + 6.429%
Total |  | 30,900,000 |  |  | 20,872,888 |  |  | $ | 504,765 |  |  | $ | 521,822 |  |  |  |  |  |  |  |  |
(1)Each series of fixed rate preferred stock is entitled to receive a dividend at the contractual rate shown, respectively, per year on its $25 liquidation preference. Each series of fixed-to-floating rate preferred stock is entitled to receive a dividend at the contractual rate shown, respectively, per year on its $25 liquidation preference up to, but excluding, the fixed-to-floating rate conversion date. (2)Each series of Preferred Stock is not redeemable by the Company prior to the respective redemption date disclosed except under circumstances intended to preserve the Company’s qualification as a REIT and except upon occurrence of a Change in Control (as defined in the Articles Supplementary designating the Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock, respectively). (3)Beginning on the respective fixed-to-floating rate conversion date, each of the Series D Preferred Stock and Series E Preferred Stock is entitled to receive a dividend on a floating rate basis according to the terms disclosed in footnote (4) below. (4)On and after the fixed-to-floating rate conversion date, each of the Series D Preferred Stock and Series E Preferred Stock is entitled to receive a dividend at a floating rate equal to three-month LIBOR plus the respective spread disclosed above per year on its $25 liquidation preference.
Schedule of Dividends Declared | The following table presents the relevant information with respect to quarterly cash dividends declared on the Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock commencing January 1, 2019 through September 30, 2020 and on the Series E Preferred Stock from its time of original issuance through September 30, 2020:
|  |  |  |  |  | Cash Dividend Per Share
Declaration Date |  | Record Date |  | Payment Date |  | Series B Preferred Stock |  | Series C Preferred Stock |  | Series D Preferred Stock |  | Series E Preferred Stock |
September 14, 2020 |  | October 1, 2020 |  | October 15, 2020 |  | $ | 0.484375 |  |  | $ | 0.4921875 |  |  | $ | 0.50 |  |  | $ | 0.4921875 |  |
June 15, 2020 |  | July 1, 2020 |  | July 15, 2020 |  | 0.96875 |  | (1) | 0.984375 |  | (1) | 1.00 |  | (1) | 0.984375 |  | (1)
December 10, 2019 |  | January 1, 2020 |  | January 15, 2020 |  | 0.484375 |  |  | 0.4921875 |  |  | 0.50 |  |  | 0.47578 |  | (2)
September 9, 2019 |  | October 1, 2019 |  | October 15, 2019 |  | 0.484375 |  |  | 0.4921875 |  |  | 0.50 |  |  | — |  |
June 14, 2019 |  | July 1, 2019 |  | July 15, 2019 |  | 0.484375 |  |  | 0.4921875 |  |  | 0.50 |  |  | — |  |
March 19, 2019 |  | April 1, 2019 |  | April 15, 2019 |  | 0.484375 |  |  | 0.4921875 |  |  | 0.50 |  |  | — |  |
(1)Preferred Stock dividends declared on June 15, 2020 included cash dividends in arrears for the quarterly period that began on January 15, 2020 and ended on April 14, 2020 and cash dividends for the quarterly period that began on April 15, 2020 and ended on July 14, 2020. (2)Cash dividend for the partial quarterly period that began on October 18, 2019 and ended on January 14, 2020. On March 23, 2020, the Company announced that it had suspended its quarterly dividend on common stock for the first quarter of 2020 to focus on conserving capital during the difficult market conditions resulting from the COVID-19 pandemic. As a result, the Company did not declare a cash dividend on its common stock during the three months ended March 31, 2020. The Company declared a regular quarterly cash dividend on common stock for the second and third quarters of 2020. The following table presents cash dividends declared by the Company on its common stock with respect to the quarterly periods commencing January 1, 2019 and ended September 30, 2020:
Period |  | Declaration Date |  | Record Date |  | Payment Date |  | Cash Dividend Per Share
Third Quarter 2020 |  | September 14, 2020 |  | September 24, 2020 |  | October 26, 2020 |  | $ | 0.075 |
Second Quarter 2020 |  | June 15, 2020 |  | July 1, 2020 |  | July 27, 2020 |  | 0.050 |
Fourth Quarter 2019 |  | December 10, 2019 |  | December 20, 2019 |  | January 27, 2020 |  | 0.200 |
Third Quarter 2019 |  | September 9, 2019 |  | September 19, 2019 |  | October 25, 2019 |  | 0.200 |
Second Quarter 2019 |  | June 14, 2019 |  | June 24, 2019 |  | July 25, 2019 |  | 0.200 |
First Quarter 2019 |  | March 19, 2019 |  | March 29, 2019 |  | April 25, 2019 |  | 0.200 |
Schedule of Public Offerings of Common Stock | The following table details the Company's public offerings of common stock during the nine months ended September 30, 2020 (dollar amounts in thousands):
Share Issue Month |  | Shares Issued |  | Net Proceeds (1)
February 2020 |  | 50,600,000 |  |  | $ | 305,274 |
January 2020 |  | 34,500,000 |  |  | 206,650 |
(1) Proceeds are net of underwriting discounts and commissions and offering expenses.

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- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21553-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21488-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21484-112644 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644 + Details
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