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Equity and Mezzanine Equity (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Changes in Stockholders' Equity

The following table summarizes the changes in our equity for the three and nine months ended September 30, 2020 and 2019 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
Series A and B Preferred Stock	2020		2019		2020		2019
Balance, beginning of period	$	—	$	2	$	—	$	2
Issuance of Series A and B preferred stock, net	—		—		—		—
Balance, end of period	$	—	$	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	$	34	$	31	$	32	$	29
Issuance of common stock, net	—		—		2		2
Balance, end of period	$	34	$	31	$	34	$	31
Series F Preferred Stock (1)
Balance, beginning of period	$	—	$	—	$	—	$	—
Issuance of Series F preferred stock, net	—		—		—		—
Balance, end of period	$	—	$	—	$	—	$	—
Additional Paid in Capital
Balance, beginning of period	$	599,741	$	592,706	$	571,205	$	559,977
Issuance of common stock and Series F preferred stock, net (1)	5,027		7,362		33,465		40,608

Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	(61)		(112)		37		(629)
Balance, end of period	$	604,707	$	599,956	$	604,707	$	599,956
Accumulated Other Comprehensive Income
Balance, beginning of period	$	(5,135)	$	(1,859)	$	(2,126)	$	(148)
Comprehensive income	276		(624)		(2,733)		(2,335)
Balance, end of period	$	(4,859)	$	(2,483)	$	(4,859)	$	(2,483)
Distributions in Excess of Accumulated Earnings
Balance, beginning of period	$	(388,900)	$	(331,461)	$	(360,978)	$	(310,117)
Distributions declared to common, senior common, and preferred stockholders	(15,780)		(14,482)		(46,965)		(42,674)
Net income attributable to the Company	2,846		2,207		6,109		9,055
Balance, end of period	$	(401,834)	$	(343,736)	$	(401,834)	$	(343,736)
Total Stockholders' Equity
Balance, beginning of period	$	205,741	$	259,420	$	208,134	$	249,744
Issuance of common stock and Series F preferred stock, net (1)	5,027		7,362		33,467		40,610

Distributions declared to common, senior common, and preferred stockholders	(15,780)		(14,482)		(46,965)		(42,674)
Comprehensive income	276		(624)		(2,733)		(2,335)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	(61)		(112)		37		(629)
Net income attributable to the Company	2,846		2,207		6,109		9,055
Balance, end of period	$	198,049	$	253,771	$	198,049	$	253,771
Non-Controlling Interest
Balance, beginning of period	$	2,892	$	4,665	$	2,903	$	4,675
Distributions declared to Non-controlling OP Unit holders	(189)		(279)		(567)		(835)
Issuance of Non-controlling OP Units as consideration in real estate acquisitions, net	—		—		502		—
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	61		112		(37)		629
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders	(2)		(16)		(39)		13
Balance, end of period	$	2,762	$	4,482	$	2,762	$	4,482
Total Equity	$	200,811	$	258,253	$	200,811	$	258,253

(1)No shares of Series F Preferred Stock were outstanding prior to July 1, 2020

Dividends Paid

We paid the following distributions per share for the three and nine months ended September 30, 2020 and 2019:


	For the three months ended September 30,					For the nine months ended September 30,
	2020			2019		2020			2019
Common Stock and Non-controlling OP Units	$	0.37545		$	0.37500	$	1.12635		$	1.12500
Senior Common Stock	0.2625			0.2625		0.7875			0.7875
Series A Preferred Stock	—		(1)	0.4843749		—		(1)	1.4531247
Series B Preferred Stock	—		(1)	0.46875		—		(1)	1.4063

Series D Preferred Stock	0.4374999			0.4374999		1.3124997			1.3124997
Series E Preferred Stock	0.414063			—		1.2421890			—
Series F Preferred Stock	0.375			—		0.375		(2)	—

(1)We fully redeemed all outstanding shares of both Series A Preferred Stock and Series B Preferred Stock on October 28, 2019.

(2)Prior to July 1, 2020, Series F Preferred Stock distributions were declared, but not paid, as there were no Series F Preferred Stock shares outstanding on the applicable dividend record dates.