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Subsequent Events (Tables) | 9 Months Ended
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Sep. 30, 2023
Subsequent Events [Abstract] |
Schedule of Equity Activity | The following table provides information on equity sales that have occurred subsequent to September 30, 2023 (dollars in thousands, except per-share amounts):
Type of Issuance |  | Number of Shares Sold |  | Weighted Average Offering Price Per Share |  | Gross Proceeds |  | Net Proceeds(1)
Series E Preferred Stock |  | 2,200 |  | $ | 25.00 |  |  | $ | 55 |  |  | $ | 50 |
(1)Net of Selling Commissions and Dealer-Manager Fees.
Dividends Declared | The per-share distributions to preferred and common stockholders declared by our Board of Directors during the three and nine months ended September 30, 2023 and 2022 are reflected in the table below.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Issuance |  | 2023 |  | 2022 |  | 2023 |  | 2022
Series B Preferred Stock |  | $ | 0.375 |  |  | $ | 0.375 |  |  | $ | 1.125 |  |  | $ | 1.125 |
Series C Preferred Stock |  | 0.375 |  |  | 0.375 |  |  | 1.125 |  |  | 1.125 |
Series D Term Preferred Stock(1) |  | 0.312501 |  |  | 0.312501 |  |  | 0.937503 |  |  | 0.937503 |
Series E Term Preferred Stock |  | 0.312501 |  |  | — |  |  | 0.937503 |  |  | — |
Common Stock(2) |  | 0.1386 |  |  | 0.1368 |  |  | 0.4143 |  |  | 0.4089 |
(1)Dividends are treated similar to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. (2)The same amounts were paid as distributions on each OP Unit held by non-controlling OP Unitholders. On October 10, 2023, our Board of Directors authorized and we declared the following monthly cash distributions to holders of our preferred and common stock:
Issuance |  | Record Date |  | Payment Date |  | Distribution per Share
Series B Preferred Stock: |  | October 20, 2023 |  | October 31, 2023 |  | $ | 0.125 |
|  | November 20, 2023 |  | November 30, 2023 |  | 0.125 |
|  | December 18, 2023 |  | December 29, 2023 |  | 0.125 |
Total Series B Preferred Stock Distributions: |  | $ | 0.375 |
Series C Preferred Stock: |  | October 20, 2023 |  | October 31, 2023 |  | $ | 0.125 |
|  | November 20, 2023 |  | November 30, 2023 |  | 0.125 |
|  | December 18, 2023 |  | December 29, 2023 |  | 0.125 |
Total Series C Preferred Stock Distributions: |  | $ | 0.375 |
Series D Term Preferred Stock: |  | October 20, 2023 |  | October 31, 2023 |  | $ | 0.104167 |
|  | November 20, 2023 |  | November 30, 2023 |  | 0.104167 |
|  | December 18, 2023 |  | December 29, 2023 |  | 0.104167 |
Total Series D Term Preferred Stock Distributions: |  | $ | 0.312501 |
Series E Preferred Stock: |  | October 25, 2023 |  | November 3, 2023 |  | $ | 0.104167 |
|  | November 28, 2023 |  | December 5, 2023 |  | 0.104167 |
|  | December 27, 2023 |  | January 5, 2024 |  | 0.104167 |
Total Series E Preferred Stock Distributions: |  | $ | 0.312501 |
Common Stock(1): |  | October 20, 2023 |  | October 31, 2023 |  | $ | 0.0464 |
|  | November 20, 2023 |  | November 30, 2023 |  | 0.0464 |
|  | December 18, 2023 |  | December 29, 2023 |  | 0.0464 |
Total Common Stock Distributions |  | $ | 0.1392 |
(1)The same amounts paid to common stockholders will be paid as distributions on each OP Unit held by non-controlling OP Unitholders as of the above record dates.

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