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Equity and Mezzanine Equity (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 and 2021 (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30,
| 2022 | 2021 |  | 2022 | 2021
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 | $ | 38 |  | $ | 36 |  |  | $ | 37 |  | $ | 35 |
Issuance of common stock, net | 1 |  | — |  |  | 2 |  | 1 |
Balance, end of period | $ | 39 |  | $ | 36 |  |  | $ | 39 |  | $ | 36 |
Series F Preferred Stock |  |  |  |  |
Balance, beginning of period | $ | — |  | $ | — |  |  | $ | — |  | $ | — |
Issuance of Series F preferred stock, net | 1 |  | — |  |  | 1 |  | — |
Redemption of Series F preferred stock, net | — |  | — |  |  | — |  | — |
Balance, end of period | $ | 1 |  | $ | — |  |  | $ | 1 |  | $ | — |
Additional Paid in Capital |  |  |  |  |
Balance, beginning of period | $ | 692,795 |  | $ | 639,053 |  |  | $ | 671,134 |  | $ | 626,533 |
Issuance of common stock and Series F preferred stock, net | 12,908 |  | 9,099 |  |  | 34,657 |  | 20,411 |
Redemption of OP Units | — |  | — |  |  | — |  | 4,812 |
Redemption of Series F preferred stock, net | — |  | — |  |  | 55 |  | — |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (74) |  | (40) |  |  | (217) |  | (3,644) |
Balance, end of period | $ | 705,629 |  | $ | 648,112 |  |  | $ | 705,629 |  | $ | 648,112 |
Accumulated Other Comprehensive Income |  |  |  |  |
Balance, beginning of period | $ | 2,921 |  | $ | (1,921) |  |  | $ | (1,346) |  | $ | (4,345) |
Comprehensive income | 2,603 |  | (720) |  |  | 6,870 |  | 1,704 |
Balance, end of period | $ | 5,524 |  | $ | (2,641) |  |  | $ | 5,524 |  | $ | (2,641) |
Distributions in Excess of Accumulated Earnings |  |  |  |  |
Balance, beginning of period | $ | (482,493) |  | $ | (425,422) |  |  | $ | (468,523) |  | $ | (409,041) |
Distributions declared to common, senior common, and preferred stockholders | (17,663) |  | (16,701) |  |  | (35,019) |  | (33,163) |
Redemption of Series D preferred stock, net | — |  | (2,141) |  |  | — |  | (2,141) |
Redemption of Series F preferred stock, net | — |  | — |  |  | (5) |  | — |
Net income attributable to the Company | 1,582 |  | 2,142 |  |  | 4,973 |  | 2,223 |
Balance, end of period | $ | (498,574) |  | $ | (442,122) |  |  | $ | (498,574) |  | $ | (442,122) |
Total Stockholders' Equity |  |  |  |  |
Balance, beginning of period | $ | 213,262 |  | $ | 211,747 |  |  | $ | 201,303 |  | $ | 213,183 |
Issuance of common stock and Series F preferred stock, net | 12,910 |  | 9,099 |  |  | 34,660 |  | 20,412 |
Redemption of OP Units | — |  | — |  |  | — |  | 4,812 |
Redemption of Series D preferred stock, net | — |  | (2,141) |  |  | — |  | (2,141) |
Redemption of Series F preferred stock, net | — |  | — |  |  | 50 |  | — |
Distributions declared to common, senior common, and preferred stockholders | (17,663) |  | (16,701) |  |  | (35,019) |  | (33,163) |
Comprehensive income | 2,603 |  | (720) |  |  | 6,870 |  | 1,704 |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (74) |  | (40) |  |  | (217) |  | (3,644) |
Net income attributable to the Company | 1,582 |  | 2,142 |  |  | 4,973 |  | 2,223 |
Balance, end of period | $ | 212,620 |  | $ | 203,386 |  |  | $ | 212,620 |  | $ | 203,386 |
Non-Controlling Interest |  |  |  |  |
Balance, beginning of period | $ | 1,308 |  | $ | 1,416 |  |  | $ | 1,259 |  | $ | 2,854 |
Distributions declared to Non-controlling OP Unit holders | (97) |  | (97) |  |  | (193) |  | (285) |
Redemptions of OP Units | — |  | — |  |  | — |  | (4,812) |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 74 |  | 40 |  |  | 217 |  | 3,644 |
Net loss attributable to OP units held by Non-controlling OP Unitholders | (10) |  | (21) |  |  | (8) |  | (63) |
Balance, end of period | $ | 1,275 |  | $ | 1,338 |  |  | $ | 1,275 |  | $ | 1,338 |
Total Equity | $ | 213,895 |  | $ | 204,724 |  |  | $ | 213,895 |  | $ | 204,724 |
Dividends Paid | We paid the following distributions per share for the three and six months ended June 30, 2022 and 2021:
|  | For the three months ended June 30, |  | For the six months ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Common Stock and Non-controlling OP Units |  | $ | 0.37620 |  |  | $ | 0.37545 |  |  | $ | 0.75240 |  |  | $ | 0.75090 |
Senior Common Stock |  | 0.2625 |  |  | 0.2625 |  |  | 0.5250 |  |  | 0.5250 |
Series D Preferred Stock |  | — |  | (1) | 0.4374999 |  |  | — |  | (1) | 0.8749998 |
Series E Preferred Stock |  | 0.414063 |  |  | 0.414063 |  |  | 0.828126 |  |  | 0.828126 |
Series F Preferred Stock |  | 0.375 |  |  | 0.375 |  |  | 0.750 |  |  | 0.750 |
Series G Preferred Stock |  | 0.375 |  | (2) | — |  |  | 0.750 |  | (2) | — |
(1)We redeemed all outstanding shares of our Series D Preferred Stock on June 30, 2021. (2)Our shares of Series G Preferred Stock were issued on June 28, 2021.

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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 https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644 + Details
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