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Equity (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of Sale of Stock by Subsidiary
The following table provides information on sales of our Series E Preferred Stock during the three months ended March 31, 2024 and 2023 (dollars in thousands, except per-share amounts):
Three Months Ended March 31,
20242023
Number of shares sold11,340 60,200 
Weighted-average offering price per share$25.00 $24.98 
Gross proceeds$284 $1,504 
Net proceeds(1)
$255 $1,355 
(1)Net of Selling Commissions, Dealer-Manager Fees, and underwriting discounts.
The following table provides information on shares of common stock sold by the Sales Agents under the ATM Program during the three months ended March 31, 2024 and 2023 (dollars in thousands, except per-share amounts):
Three Months Ended March 31,
20242023
Number of shares sold— 663,585 
Weighted-average offering price per share$— $19.72 
Gross proceeds$— $13,084 
Net proceeds(1)
$— $12,953 
(1)Net of underwriting commissions.
Dividends Declared
The per-share distributions to preferred and common stockholders declared by our Board of Directors during the three months ended March 31, 2024 and 2023 are reflected in the table below.
Three Months Ended March 31,
Issuance20242023
Series B Preferred Stock$0.375 $0.375 
Series C Preferred Stock0.375 0.375 
Series D Term Preferred Stock(1)
0.312501 0.312501 
Series E Term Preferred Stock0.312501 0.312501 
Common Stock(2)
0.1395 0.1377 
(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, if any, as of the applicable date of record.
On April 9, 2024, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:
IssuanceRecord DatePayment DateDistribution per Share
Series B Preferred Stock:April 19, 2024April 30, 2024$0.125 
May 17, 2024May 31, 20240.125 
June 19, 2024June 28, 20240.125 
Total Series B Preferred Stock Distributions:$0.375 
Series C Preferred Stock:April 19, 2024April 30, 2024$0.125 
May 17, 2024May 31, 20240.125 
June 19, 2024June 28, 20240.125 
Total Series C Preferred Stock Distributions:$0.375 
Series D Term Preferred Stock:April 19, 2024April 30, 2024$0.104167 
May 17, 2024May 31, 20240.104167 
June 19, 2024June 28, 20240.104167 
Total Series D Term Preferred Stock Distributions:$0.312501 
Series E Preferred Stock:April 22, 2024May 3, 2024$0.104167 
May 23, 2024June 5, 20240.104167 
June 25, 2024July 5, 20240.104167 
Total Series E Preferred Stock Distributions:$0.312501 
Common Stock(1):
April 19, 2024April 30, 2024$0.0466 
May 17, 2024May 31, 20240.0466 
June 19, 2024June 28, 20240.0466 
Total Common Stock Distributions$0.1398 
(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.