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EQUITY (Tables)
 3 Months Ended
Mar. 31, 2025
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 (dollars in thousands, except per-share amounts):
Three Months Ended March 31,
2024
Number of shares sold11,340 
Weighted-average offering price per share$25.00 
Gross proceeds$284 
Net proceeds(1)
$255 
(1)Net of Selling Commissions, Dealer-Manager Fees, and underwriting discounts.
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,
Issuance20252024
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)
0.1401 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:
IssuanceRecord DatePayment DateDistribution per Share
Series B Preferred Stock:April 21, 2025April 30, 2025$0.125 
May 21, 2025May 30, 20250.125 
June 20, 2025June 30, 20250.125 
Total Series B Preferred Stock Distributions:$0.375 
Series C Preferred Stock:April 21, 2025April 30, 2025$0.125 
May 21, 2025May 30, 20250.125 
June 20, 2025June 30, 20250.125 
Total Series C Preferred Stock Distributions:$0.375 
Series D Term Preferred Stock:April 21, 2025April 30, 2025$0.104167 
May 21, 2025May 30, 20250.104167 
June 20, 2025June 30, 20250.104167 
Total Series D Term Preferred Stock Distributions:$0.312501 
Series E Preferred Stock:April 25, 2025May 5, 2025$0.104167 
May 27, 2025June 5, 20250.104167 
June 25, 2025July 3, 20250.104167 
Total Series E Preferred Stock Distributions:$0.312501 
Common Stock(1):
April 21, 2025April 30, 2025$0.0467 
May 21, 2025May 30, 20250.0467 
June 20, 2025June 30, 20250.0467 
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.