Equity and Mezzanine Equity (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Changes in Stockholders' Equity

The following table summarizes the changes in our equity for the three months ended March 31, 2024 and 2023 (dollars in thousands):


	Three Months Ended March 31,
	2024		2023
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	$	40	$	39
Issuance of common stock, net	—		1

Balance, end of period	$	40	$	40
Series F Preferred Stock
Balance, beginning of period	$	1	$	1
Issuance of Series F preferred stock, net	—		—
Redemption of Series F preferred stock, net	—		—
Balance, end of period	$	1	$	1
Additional Paid in Capital
Balance, beginning of period	$	730,256	$	721,327
Issuance of common stock and Series F preferred stock, net	197		4,385


Redemption of Series F preferred stock, net	55		86
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	(43)		24
Balance, end of period	$	730,465	$	725,874
Accumulated Other Comprehensive Income
Balance, beginning of period	$	7,758	$	11,640
Comprehensive income (loss)	5,417		(5,895)
Reclassification into interest expense	106		263
Balance, end of period	$	13,281	$	6,008
Distributions in Excess of Accumulated Earnings
Balance, beginning of period	$	(584,776)	$	(529,104)
Distributions declared to common, senior common, and preferred stockholders	(15,220)		(15,108)

Redemption of Series F preferred stock, net	(3)		(5)
Net income available to the Company	3,524		3,174
Balance, end of period	$	(596,475)	$	(541,042)
Total Stockholders' Equity
Balance, beginning of period	$	153,280	$	203,904
Issuance of common stock and Series F preferred stock, net	197		4,386



Redemption of Series F preferred stock, net	52		81
Retirement of senior common stock, net	—		52
Distributions declared to common, senior common, and preferred stockholders	(15,220)		(15,108)
Comprehensive income (loss)	5,417		(5,895)
Reclassification into interest expense	106		263
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	(43)		24
Net income available to the Company	3,524		3,174
Balance, end of period	$	147,313	$	190,882


Non-Controlling Interest
Balance, beginning of period	$	986	$	1,790
Distributions declared to Non-controlling OP Unit holders	(93)		(118)


Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership	43		(24)
Net income (loss) available (attributable) to OP units held by Non-controlling OP Unitholders	2		(7)
Balance, end of period	$	938	$	1,641
Total Equity	$	148,251	$	192,523

Schedule of Dividends Paid

We paid the following distributions per share for the three months ended March 31, 2024 and 2023:


	For the three months ended March 31,
	2024		2023
Common Stock and Non-controlling OP Units	$	0.30	$	0.30
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