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Equity (Tables) | 9 Months Ended
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Sep. 30, 2020
Class of Stock [Line Items] |
Schedule of Partners' Capital Units Issued | Information regarding OP Units issued to noncontrolling OP Unitholders during the three and nine months ended September 30, 2019, is provided in the following table (dollars in thousands, except per-unit amounts):
Number of OP Units Issued |  | Weighted Average Issuance Price per OP Unit |  | Aggregate Value(1)
288,303 |  | $11.41 |  | $ | 3,290 |
(1)Based on the closing stock price of the Company’s common stock on the date of issuance.
Schedule of OP Units Tendered for Redemption | Information related to OP Units tendered for redemption during the three and nine months ended September 30, 2020 and 2019 is provided in the table below:
Period |  | OP Units Tendered for Redemption |  | Shares of Common Stock Issued |  |  |  |  |  |
2020: |  |  |  |  |  |  |  |  |  |
Three months ended September 30, 2020 |  | 144,151 |  | 144,151 |  |  |  |  |  |
Nine months ended September 30, 2020 |  | 288,303 |  | 288,303 |  |  |  |  |  |
2019: |  |  |  |  |  |  |  |  |  |
Three months ended September 30, 2019 |  | — |  | — |  |  |  |  |  |
Nine months ended September 30, 2019 |  | 570,879 |  | 570,879 |  |  |  |  |  |
Schedule of Stock Redeemed | The following table provides information on redemptions of the Series B Preferred Stock that occurred during the three and nine months ended September 30, 2020 and 2019 (dollars in thousands, except per-share amounts):
Period |  | Number of Shares Redeemed |  | Weighted-average Redemption Price per Share |  | Cash Redemption Paid
2020: |  |  |  |  |  |
Three months ended September 30, 2020 |  | 16,417 |  | $ | 22.68 |  |  | $ | 372 |
Nine months ended September 30, 2020 |  | 29,335 |  | 23.22 |  |  | 681 |
2019: |  |  |  |  |  |
Three months ended September 30, 2019 |  | 2,120 |  | $ | 22.50 |  |  | $ | 48 |
Nine months ended September 30, 2019 |  | 9,520 |  | 22.50 |  |  | 214 |
Monthly Distributions Declared and Paid by Company's Board of Directors | The per-share distributions to preferred and common stockholders declared by our Board of Directors and paid by us (except as noted) during the three and nine months ended September 30, 2020 and 2019 are reflected in the table below.
|  |  |  | Three months ended September 30, |  | Nine months ended September 30,
Issuance |  |  |  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Series A Term Preferred Stock(1) |  |  |  |  |  | $ | 0.3984375 |  |  | $ | 0.3984375 |  |  | $ | 1.1953125 |  |  | $ | 1.1953125 |
Series B Preferred Stock(2) |  |  |  |  |  | 0.375 |  |  | 0.375 |  |  | 1.125 |  |  | 1.125 |
Series C Preferred Stock(2) |  |  |  |  |  | 0.375 |  |  | — |  |  | 0.750 |  |  | — |
Common Stock(3) |  |  |  |  |  | 0.13440 |  |  | 0.13365 |  |  | 0.40245 |  |  | 0.40050 |
(1)Treated similar to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. (2)Of the aggregate dividends declared on the Series B Preferred Stock and Series C Preferred Stock by our Board of Directors on July 14, 2020, and July 9, 2019, approximately $797,000 and $433,000, respectively, was paid (as scheduled) by us on October 7, 2020, and October 3, 2019, respectively. (3)The same amounts were paid as distributions on each OP Unit held by non-controlling OP Unitholders.
Series B Preferred Stock |
Class of Stock [Line Items] |
Schedule of Sale of Stock by Subsidiary | The following table provides information on sales of the Series B Preferred Stock that occurred during the three and nine months ended September 30, 2020 and 2019 (dollars in thousands, except per-share amounts):
Period |  | Number of Shares Sold |  | Weighted-average Offering Price per Share |  | Gross Proceeds |  | Net Proceeds(1)
2020(2): |  |  |  |  |  |  |  |
Nine months ended September 30, 2020 |  | 1,229,531 |  | $ | 24.52 |  |  | $ | 30,148 |  |  | $ | 27,664 |
2019: |  |  |  |  |  |  |  |
Three months ended September 30, 2019 |  | 831,579 |  | $ | 24.64 |  |  | $ | 20,487 |  |  | $ | 18,711 |
Nine months ended September 30, 2019 |  | 2,330,654 |  | 24.68 |  |  | 57,529 |  |  | 52,440 |
(1)Net of Series B Selling Commissions and Series B Dealer-Manager Fees borne by us. (2)The Series B Offering was completed during the three months ended March 31, 2020.
Series C Preferred Stock |
Class of Stock [Line Items] |
Schedule of Sale of Stock by Subsidiary | The following table provides information on equity sales that have occurred during the three and nine months ended September 30, 2020 (dollars in thousands, except per-share amounts):
Period |  | Number of Shares Sold(1) |  | Weighted Average Offering Price Per Share |  | Gross Proceeds |  | Net Proceeds(2)
Three months ended September 30, 2020 |  | 289,494 |  | $ | 24.82 |  |  | $ | 7,184 |  |  | $ | 6,586 |
Nine months ended September 30, 2020 |  | 420,196 |  | 24.86 |  |  | 10,444 |  |  | 9,559 |
(1)Excludes shares issued pursuant to the DRIP. During each of the three and nine months ended September 30, 2020, we issued approximately 34 shares of the Series C Preferred Stock pursuant to the DRIP. (2)Net of Series C Selling Commissions and Series C Dealer-Manager Fees.
Common Stock |
Class of Stock [Line Items] |
Schedule of Sale of Stock by Subsidiary | The following table provides information on shares of common stock sold by the Sales Agents under the ATM Programs during the three and nine months ended September 30, 2020 and 2019 (dollars in thousands, except per-share amounts):
Period |  | Number of Shares Sold |  | Weighted-average Offering Price Per Share |  | Gross Proceeds |  | Net Proceeds(1)
2020: |  |  |  |  |  |  |  |
Three months ended September 30, 2020 |  | 526,016 |  | $ | 16.13 |  |  | $ | 8,483 |  |  | $ | 8,398 |
Nine months ended September 30, 2020 |  | 979,945 |  | 14.94 |  |  | 14,638 |  |  | 14,491 |
2019: |  |  |  |  |  |  |  |
Three months ended September 30, 2019 |  | 78,008 |  | $ | 12.01 |  |  | $ | 937 |  |  | $ | 923 |
Nine months ended September 30, 2019 |  | 148,559 |  | 12.32 |  |  | 1,830 |  |  | 1,802 |
(1)Net of underwriting commissions and discounts.

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