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Subsequent Events | 12 Months Ended
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Dec. 31, 2023
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS Portfolio Activity—Property Sale On January 11, 2024, we completed the sale of a 3,748-acre farm in Martin County, Florida, for approximately $65.7 million. Including closing costs, we recognized a net gain on the sale of approximately $10.4 million. 2024 California Floods In February 2024, certain parts of California, particularly the southern part of the state, experienced a “one-in-one-thousand year” rainfall event, as atmospheric river storms caused widespread flooding and mudslides in multiple areas. Certain of our farms in the state suffered minor damage as a result of the storms, but no farms were materially impacted. Financing Activity Debt Activity—Loan Maturities Subsequent to December 31, 2023, we repaid $16.2 million in maturing bonds that bore interest at a weighted-average annual rate of 3.15%. Equity Activity The following table provides information on equity sales that have occurred subsequent to December 31, 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 |  | 10,340 |  | $ | 25.00 |  |  | $ | 259 |  |  | $ | 233 |
(1)Net of Selling Commissions and Dealer-Manager Fees or underwriting discounts and commissions (in each case, as applicable). Distributions On January 9, 2024, 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: |  | January 23, 2024 |  | January 31, 2024 |  | $ | 0.125 |
|  | February 21, 2024 |  | February 29, 2024 |  | 0.125 |
|  | March 21, 2024 |  | March 29, 2024 |  | 0.125 |
Total Series B Preferred Stock Distributions: |  | $ | 0.375 |
Series C Preferred Stock: |  | January 23, 2024 |  | January 31, 2024 |  | $ | 0.125 |
|  | February 21, 2024 |  | February 29, 2024 |  | 0.125 |
|  | March 21, 2024 |  | March 29, 2024 |  | 0.125 |
Total Series C Preferred Stock Distributions: |  | $ | 0.375 |
Series D Term Preferred Stock: |  | January 23, 2024 |  | January 31, 2024 |  | $ | 0.104167 |
|  | February 21, 2024 |  | February 29, 2024 |  | 0.104167 |
|  | March 21, 2024 |  | March 29, 2024 |  | 0.104167 |
Total Series D Term Preferred Stock Distributions: |  | $ | 0.312501 |
Series E Preferred Stock: |  | January 25, 2024 |  | February 5, 2024 |  | $ | 0.104167 |
|  | February 27, 2024 |  | March 5, 2024 |  | 0.104167 |
|  | March 26, 2024 |  | April 5, 2024 |  | 0.104167 |
Total Series E Preferred Stock Distributions: |  | $ | 0.312501 |
Common Stock(1): |  | January 23, 2024 |  | January 31, 2024 |  | $ | 0.0465 |
|  | February 21, 2024 |  | February 29, 2024 |  | 0.0465 |
|  | March 21, 2024 |  | March 29, 2024 |  | 0.0465 |
Total Common Stock Distributions: |  | $ | 0.1395 |
(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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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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