XML 32 R21.htm IDEA: XBRL DOCUMENT v3.22.2
Equity and Mezzanine Equity (Tables)
6 Months Ended
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,
2022202120222021
Senior Common Stock
Balance, beginning of period$$$$
Issuance of senior common stock, net— — — — 
Balance, end of period$$$$
Common Stock
Balance, beginning of period$38 $36 $37 $35 
Issuance of common stock, net— 
Balance, end of period$39 $36 $39 $36 
Series F Preferred Stock
Balance, beginning of period$— $— $— $— 
Issuance of Series F preferred stock, net— — 
Redemption of Series F preferred stock, net— — — — 
Balance, end of period$$— $$— 
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, net12,908 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 income2,603 (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)$(409,041)
Distributions declared to common, senior common, and preferred stockholders(17,663)(16,701)(35,019)(33,163)
Redemption of Series D preferred stock, net— (2,141)— (2,141)
Redemption of Series F preferred stock, net— — (5)— 
Net income attributable to the Company1,582 2,142 4,973 2,223 
Balance, end of period$(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, net12,910 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 income2,603 (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 Company1,582 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 Partnership74 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,
2022202120222021
Common Stock and Non-controlling OP Units$0.37620 $0.37545 $0.75240 $0.75090 
Senior Common Stock0.2625 0.2625 0.5250 0.5250 
Series D Preferred Stock— (1)0.4374999 — (1)0.8749998 
Series E Preferred Stock0.414063 0.414063 0.828126 0.828126 
Series F Preferred Stock0.375 0.375 0.750 0.750 
Series G Preferred Stock0.375 (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.