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SUBSEQUENT EVENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Subsequent Events [Abstract] |
Schedule of Dividends Declared | The per-share distributions to preferred and common stockholders declared by our Board of Directors during the three months ended March 31, 2025 and 2024 are reflected in the table below.
|  | Three Months Ended March 31, |  |
Issuance |  | 2025 |  | 2024 |  |  |  |
Series B Preferred Stock |  | $ | 0.375 |  |  | $ | 0.375 |  |  |  |  |
Series C Preferred Stock |  | 0.375 |  |  | 0.375 |  |  |  |  |
Series D Term Preferred Stock(1) |  | 0.312501 |  |  | 0.312501 |  |  |  |  |
Series E Term Preferred Stock |  | 0.312501 |  |  | 0.312501 |  |  |  |  |
Common Stock(2) |  | 0.1401 |  |  | 0.1395 |  |  |  |  |
(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 8, 2025, our Board of Directors 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: |  | April 21, 2025 |  | April 30, 2025 |  | $ | 0.125 |
|  | May 21, 2025 |  | May 30, 2025 |  | 0.125 |
|  | June 20, 2025 |  | June 30, 2025 |  | 0.125 |
Total Series B Preferred Stock Distributions: |  | $ | 0.375 |
Series C Preferred Stock: |  | April 21, 2025 |  | April 30, 2025 |  | $ | 0.125 |
|  | May 21, 2025 |  | May 30, 2025 |  | 0.125 |
|  | June 20, 2025 |  | June 30, 2025 |  | 0.125 |
Total Series C Preferred Stock Distributions: |  | $ | 0.375 |
Series D Term Preferred Stock: |  | April 21, 2025 |  | April 30, 2025 |  | $ | 0.104167 |
|  | May 21, 2025 |  | May 30, 2025 |  | 0.104167 |
|  | June 20, 2025 |  | June 30, 2025 |  | 0.104167 |
Total Series D Term Preferred Stock Distributions: |  | $ | 0.312501 |
Series E Preferred Stock: |  | April 25, 2025 |  | May 5, 2025 |  | $ | 0.104167 |
|  | May 27, 2025 |  | June 5, 2025 |  | 0.104167 |
|  | June 25, 2025 |  | July 3, 2025 |  | 0.104167 |
Total Series E Preferred Stock Distributions: |  | $ | 0.312501 |
Common Stock(1): |  | April 21, 2025 |  | April 30, 2025 |  | $ | 0.0467 |
|  | May 21, 2025 |  | May 30, 2025 |  | 0.0467 |
|  | June 20, 2025 |  | June 30, 2025 |  | 0.0467 |
Total Common Stock Distributions |  | $ | 0.1401 |
(1)The same amounts paid to common stockholders were or will be paid as distributions on each OP Unit held by non-controlling OP Unitholders, if any, as of the above record dates.

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