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Equity and Mezzanine Equity (Tables) | 3 Months Ended
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Mar. 31, 2023
Equity [Abstract] |
Summary of Changes in Stockholders' Equity | The following table summarizes the changes in our equity for the three months ended March 31, 2023 and 2022 (in thousands):
| Three Months Ended March 31, |
| 2023 | 2022 |  |  |
Senior Common Stock |  |  |  |  |
Balance, beginning of period | $ | 1 |  | $ | 1 |  |  |  |
Issuance of senior common stock, net | — |  | — |  |  |  |
Balance, end of period | $ | 1 |  | $ | 1 |  |  |  |
Common Stock |  |  |  |  |
Balance, beginning of period | $ | 39 |  | $ | 37 |  |  |  |
Issuance of common stock, net | 1 |  | 1 |  |  |  |
Balance, end of period | $ | 40 |  | $ | 38 |  |  |  |
Series F Preferred Stock |  |  |  |  |
Balance, beginning of period | $ | 1 |  | $ | — |  |  |  |
Issuance of Series F preferred stock, net | — |  | — |  |  |  |
Redemption of Series F preferred stock, net | — |  | — |  |  |  |
Balance, end of period | $ | 1 |  | $ | — |  |  |  |
Additional Paid in Capital |  |  |  |  |
Balance, beginning of period | $ | 721,327 |  | $ | 671,134 |  |  |  |
Issuance of common stock and Series F preferred stock, net | 4,385 |  | 21,749 |  |  |  |
Redemption of Series F preferred stock, net | 86 |  | 55 |  |  |  |
Retirement of senior common stock, net | 52 |  | — |  |  |  |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 24 |  | (143) |  |  |  |
Balance, end of period | $ | 725,874 |  | $ | 692,795 |  |  |  |
Accumulated Other Comprehensive Income |  |  |  |  |
Balance, beginning of period | $ | 11,640 |  | $ | (1,346) |  |  |  |
Comprehensive (loss) income | (5,895) |  | 4,267 |  |  |  |
Reclassification into interest expense | 263 |  | — |  |  |  |
Balance, end of period | $ | 6,008 |  | $ | 2,921 |  |  |  |
Distributions in Excess of Accumulated Earnings |  |  |  |  |
Balance, beginning of period | $ | (530,228) |  | $ | (468,523) |  |  |  |
Distributions declared to common, senior common, and preferred stockholders | (15,108) |  | (17,354) |  |  |  |
Redemption of Series F preferred stock, net | (5) |  | (5) |  |  |  |
Net income attributable to the Company | 2,404 |  | 3,389 |  |  |  |
Balance, end of period | $ | (542,937) |  | $ | (482,493) |  |  |  |
Total Stockholders' Equity |  |  |  |  |
Balance, beginning of period | $ | 202,780 |  | $ | 201,303 |  |  |  |
Issuance of common stock and Series F preferred stock, net | 4,386 |  | 21,750 |  |  |  |
Redemption of Series F preferred stock, net | 81 |  | 50 |  |  |  |
Retirement of senior common stock, net | 52 |  | — |  |  |  |
Distributions declared to common, senior common, and preferred stockholders | (15,108) |  | (17,354) |  |  |  |
Comprehensive (loss) income | (5,895) |  | 4,267 |  |  |  |
Reclassification into interest expense | 263 |  | — |  |  |  |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | 24 |  | (143) |  |  |  |
Net income attributable to the Company | 2,404 |  | 3,389 |  |  |  |
Balance, end of period | $ | 188,987 |  | $ | 213,262 |  |  |  |
Non-Controlling Interest |  |  |  |  |
Balance, beginning of period | $ | 1,790 |  | $ | 1,259 |  |  |  |
Distributions declared to Non-controlling OP Unit holders | (118) |  | (96) |  |  |  |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership | (24) |  | 143 |  |  |  |
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders | (7) |  | 2 |  |  |  |
Balance, end of period | $ | 1,641 |  | $ | 1,308 |  |  |  |
Total Equity | $ | 190,628 |  | $ | 214,570 |  |  |  |
Schedule of Dividends Paid | We paid the following distributions per share for the three months ended March 31, 2023 and 2022:
|  | For the three months ended March 31, |  |  |
|  | 2023 |  | 2022 |  |  |  |  |
Common Stock and Non-controlling OP Units |  | $ | 0.30000 |  |  | $ | 0.37620 |  |  |  |  |  |
Senior Common Stock |  | 0.2625 |  |  | 0.2625 |  |  |  |  |  |
Series E Preferred Stock |  | 0.414063 |  |  | 0.414063 |  |  |  |  |  |
Series F Preferred Stock |  | 0.375 |  |  | 0.375 |  |  |  |  |  |
Series G Preferred Stock |  | 0.375 |  |  | 0.375 |  |  |  |  |  |

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