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Equity and Mezzanine Equity (Tables) | 6 Months Ended
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Jun. 30, 2019
Equity [Abstract] |
Summary of Changes in Stockholders' Equity | The following table summarizes the changes in our equity for the three and six months ended June 30, 2019 and 2018 (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30,
Series A and B Preferred Stock | 2019 | 2018 | 2019 | 2018
Balance, beginning of period | $ | 2 |  | $ | 2 |  | $ | 2 |  | $ | 2 |
Issuance of Series A and B preferred stock, net | — |  | — |  | — |  | — |
Balance, end of period | $ | 2 |  | $ | 2 |  | $ | 2 |  | $ | 2 |
Senior Common Stock |  |  |  |
Balance, beginning of period | $ | 1 |  | $ | 1 |  | $ | 1 |  | $ | 1 |
Issuance of senior common stock, net | — |  | — |  | — |  | — |
Balance, end of period | $ | 1 |  | $ | 1 |  | $ | 1 |  | $ | 1 |
Common Stock |  |  |  |
Balance, beginning of period | $ | 30 |  | $ | 28 |  | $ | 29 |  | $ | 28 |
Issuance of common stock, net | 1 |  | 1 |  | 2 |  | 1 |
Balance, end of period | $ | 31 |  | $ | 29 |  | $ | 31 |  | $ | 29 |
Additional Paid in Capital |  |  |  |
Balance, beginning of period | $ | 573,868 |  | $ | 535,399 |  | $ | 559,977 |  | $ | 534,790 |
Issuance of Series A and B preferred stock and common stock, net | 19,135 |  | 2,877 |  | 33,246 |  | 3,520 |
Retirement of senior common stock, net | — |  | — |  | — |  | (34 | )
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (297 | ) | — |  | (517 | ) | — |
Balance, end of period | $ | 592,706 |  | $ | 538,276 |  | $ | 592,706 |  | $ | 538,276 |
Accumulated Other Comprehensive Income |  |  |  |
Balance, beginning of period | $ | (870 | ) | $ | 530 |  | $ | (148 | ) | $ | 35 |
Comprehensive income | (989 | ) | 288 |  | (1,711 | ) | 783 |
Balance, end of period | $ | (1,859 | ) | $ | 818 |  | $ | (1,859 | ) | $ | 818 |
Distributions in Excess of Accumulated Earnings |  |  |  |
Balance, beginning of period | $ | (319,402 | ) | $ | (276,927 | ) | $ | (310,117 | ) | $ | (268,058 | )
Distributions declared to common, senior common, and preferred stockholders | (14,280 | ) | (13,508 | ) | (28,193 | ) | (26,982 | )
Net income | 2,221 |  | 2,525 |  | 6,849 |  | 7,130 |
Balance, end of period | $ | (331,461 | ) | $ | (287,910 | ) | $ | (331,461 | ) | $ | (287,910 | )
Total Stockholders' Equity |  |  |  |
Balance, beginning of period | $ | 253,629 |  | $ | 259,033 |  | $ | 249,744 |  | $ | 266,798 |
Issuance of Series A and B preferred stock and common stock, net | 19,136 |  | 2,878 |  | 33,248 |  | 3,521 |
Retirement of senior common stock, net | — |  | — |  | — |  | (34 | )
Distributions declared to common, senior common, and preferred stockholders | (14,280 | ) | (13,508 | ) | (28,193 | ) | (26,982 | )
Comprehensive income | (989 | ) | 288 |  | (1,711 | ) | 783 |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (297 | ) | — |  | (517 | ) | — |
Net income | 2,221 |  | 2,525 |  | 6,849 |  | 7,130 |
Balance, end of period | $ | 259,420 |  | $ | 251,216 |  | $ | 259,420 |  | $ | 251,216 |
Non-Controlling Interest |  |  |  |
Balance, beginning of period | $ | 4,662 |  | $ | — |  | $ | 4,675 |  | $ | — |
Distributions declared to Non-controlling OP Unit holders | (278 | ) | — |  | (556 | ) | — |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 297 |  | — |  | 517 |  | — |
Net income | (16 | ) | — |  | 29 |  | — |
Balance, end of period | $ | 4,665 |  | $ | — |  | $ | 4,665 |  | $ | — |
Total Equity | $ | 264,085 |  | $ | 251,216 |  | $ | 264,085 |  | $ | 251,216 |
Dividends Paid | We paid the following distributions per share for the three and six months ended June 30, 2019 and 2018:
|  | For the three months ended June 30, |  | For the six months ended June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Common Stock and Non-controlling OP Units |  | $ | 0.375 |  |  | $ | 0.375 |  |  | $ | 0.750 |  |  | $ | 0.750 |
Senior Common Stock |  | 0.2625 |  |  | 0.2625 |  |  | 0.5250 |  |  | 0.5250 |
Series A Preferred Stock |  | 0.4843749 |  |  | 0.4843749 |  |  | 0.9687498 |  |  | 0.9687498 |
Series B Preferred Stock |  | 0.46875 |  |  | 0.46875 |  |  | 0.9375 |  |  | 0.9375 |
Series D Preferred Stock |  | 0.4374999 |  |  | 0.4374999 |  |  | 0.8749998 |  |  | 0.8749998 |

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