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CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Common Stock | Preferred Stock | Additional Paid-in Capital | Distributions In Excess of Earnings | Treasury Stock | Noncontrolling Interests | Total
--- | --- | --- | --- | --- | --- | --- | ---
Balance at Dec. 31, 2013 | $ 220 | $ 650 | $ 1,772,821 | $ (399,953) |  | $ 2,745 | $ 1,376,483
Balance (in shares) at Dec. 31, 2013 | 4,400,000 | 65,028,571 |  |  |  |  |
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |
Distributions pre-merger |  |  |  | (16,100) |  |  | (16,100)
Contributions from noncontrolling interests |  |  |  |  |  | 10 | 10
Distributions to noncontrolling interests |  |  |  |  |  | (148) | (148)
Reverse acquisition capital transaction | $ 111 |  | 49,400 |  | $ (4,901) |  | 44,610
Reverse acquisition capital transaction (in shares) | 2,119,244 |  |  |  |  |  |
Conversion of preferred stock to common stock | $ 910 | $ (650) | (260) |  |  |  |
Conversion of preferred stock to common stock (in shares) | 91,039,999 | (65,028,571) |  |  |  |  |
Change in par value | $ (1,143) |  | 1,143 |  |  |  |
Exercise of stock options |  |  | 201 |  |  |  | 201
Exercised (in shares) | 14,500 |  |  |  |  |  |
Stock based compensation expense |  |  | 373 |  |  |  | 373
Stock based compensation expense (in shares) | 8,000 |  |  |  |  |  |
Retirement of fractional shares |  |  | (3) |  |  |  | (3)
Retirement of fractional shares (in shares) | (145) |  |  |  |  |  |
Common dividends |  |  |  | (21,671) |  |  | (21,671)
Preferred dividends |  |  |  | (4,585) |  |  | (4,585)
Net income (loss) |  |  |  | 19,618 |  | 113 | 19,731
Balance at Jun. 30, 2014 | $ 98 |  | 1,823,675 | (422,691) | (4,901) | 2,720 | 1,398,901
Balance (in shares) at Jun. 30, 2014 | 97,581,598 |  |  |  |  |  |
Balance at Dec. 31, 2014 | $ 98 |  | 1,824,381 | (460,623) | (4,901) | 861 | 1,359,816
Balance (in shares) at Dec. 31, 2014 | 97,581,598 |  |  |  |  |  |
Increase (Decrease) in Stockholders' Equity |  |  |  |  |  |  |
Contributions from noncontrolling interests |  |  |  |  |  | 110 | 110
Distributions to noncontrolling interests |  |  |  |  |  | (38) | (38)
Stock based compensation expense |  |  | 717 |  |  |  | 717
Stock based compensation expense (in shares) | 8,000 |  |  |  |  |  |
Common dividends |  |  |  | (42,693) |  |  | (42,693)
Net income (loss) |  |  |  | 7,708 |  | 6 | 7,714
Balance at Jun. 30, 2015 | $ 98 |  | $ 1,825,098 | $ (495,608) | $ (4,901) | $ 939 | $ 1,325,626
Balance (in shares) at Jun. 30, 2015 | 97,589,598 |  |  |  |  |  |

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