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5.50% Series B Cumulative Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2020

Temporary Equity Disclosure [Abstract]

Issuance Activity

The issuance activity is summarized below (in thousands):

									Year Ended December 31,
									2020						2019
Series B Convertible Preferred Stock shares issued									23						42
Gross proceeds received									$	439					$	809
Commissions and other expenses									7						12
Net proceeds									$	432					$	797

Summary of the Activity of the Operating Partnership Units

A summary of the activity of the units in our operating partnership is as follows (in thousands):

			Year Ended December 31,
			2020						2019						2018
Units outstanding at beginning of year			4,538						4,833						4,790
LTIP units issued			129						91						144
Performance LTIP units issued			160						60						211
Units redeemed for shares of common stock			(339)						(165)						—
Performance LTIP units cancelled			(211)						(281)						(312)
Units outstanding at end of year			4,277						4,538						4,833
Units convertible/redeemable at end of year			3,823						4,027						4,045

The following table summarizes dividends declared (in thousands):

									Year Ended December 31,
															2020						2019						2018
Series B Convertible Preferred Stock															$	6,919					$	6,842					$	6,829

X

- Definition

Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components.

+ References

No definition available.

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

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