Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.20.2
Equity and Mezzanine Equity (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Summary of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three and nine months ended September 30, 2020 and 2019 (in thousands):
 
Three Months Ended September 30, Nine Months Ended September 30,
Series A and B Preferred Stock 2020 2019 2020 2019
Balance, beginning of period $ —  $ 2  $ —  $ 2 
Issuance of Series A and B preferred stock, net —  —  —  — 
Balance, end of period $ —  $ 2  $ —  $ 2 
Senior Common Stock
Balance, beginning of period $ 1  $ 1  $ 1  $ 1 
Issuance of senior common stock, net —  —  —  — 
Balance, end of period $ 1  $ 1  $ 1  $ 1 
Common Stock
Balance, beginning of period $ 34  $ 31  $ 32  $ 29 
Issuance of common stock, net —  —  2  2 
Balance, end of period $ 34  $ 31  $ 34  $ 31 
Series F Preferred Stock (1)
Balance, beginning of period $ —  $ —  $ —  $ — 
Issuance of Series F preferred stock, net —  —  —  — 
Balance, end of period $ —  $ —  $ —  $ — 
Additional Paid in Capital
Balance, beginning of period $ 599,741  $ 592,706  $ 571,205  $ 559,977 
Issuance of common stock and Series F preferred stock, net (1) 5,027  7,362  33,465  40,608 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (61) (112) 37  (629)
Balance, end of period $ 604,707  $ 599,956  $ 604,707  $ 599,956 
Accumulated Other Comprehensive Income
Balance, beginning of period $ (5,135) $ (1,859) $ (2,126) $ (148)
Comprehensive income 276  (624) (2,733) (2,335)
Balance, end of period $ (4,859) $ (2,483) $ (4,859) $ (2,483)
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (388,900) $ (331,461) $ (360,978) $ (310,117)
Distributions declared to common, senior common, and preferred stockholders (15,780) (14,482) (46,965) (42,674)
Net income attributable to the Company 2,846  2,207  6,109  9,055 
Balance, end of period $ (401,834) $ (343,736) $ (401,834) $ (343,736)
Total Stockholders' Equity
Balance, beginning of period $ 205,741  $ 259,420  $ 208,134  $ 249,744 
Issuance of common stock and Series F preferred stock, net (1) 5,027  7,362  33,467  40,610 
Distributions declared to common, senior common, and preferred stockholders (15,780) (14,482) (46,965) (42,674)
Comprehensive income 276  (624) (2,733) (2,335)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (61) (112) 37  (629)
Net income attributable to the Company 2,846  2,207  6,109  9,055 
Balance, end of period $ 198,049  $ 253,771  $ 198,049  $ 253,771 
Non-Controlling Interest
Balance, beginning of period $ 2,892  $ 4,665  $ 2,903  $ 4,675 
Distributions declared to Non-controlling OP Unit holders (189) (279) (567) (835)
Issuance of Non-controlling OP Units as consideration in real estate acquisitions, net —  —  502  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 61  112  (37) 629 
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders (2) (16) (39) 13 
Balance, end of period $ 2,762  $ 4,482  $ 2,762  $ 4,482 
Total Equity $ 200,811  $ 258,253  $ 200,811  $ 258,253 
(1)No shares of Series F Preferred Stock were outstanding prior to July 1, 2020
Dividends Paid
We paid the following distributions per share for the three and nine months ended September 30, 2020 and 2019:
 
For the three months ended September 30, For the nine months ended September 30,
2020 2019 2020 2019
Common Stock and Non-controlling OP Units $ 0.37545  $ 0.37500  $ 1.12635  $ 1.12500 
Senior Common Stock 0.2625  0.2625  0.7875  0.7875 
Series A Preferred Stock —  (1) 0.4843749  —  (1) 1.4531247 
Series B Preferred Stock —  (1) 0.46875  —  (1) 1.4063 
Series D Preferred Stock 0.4374999  0.4374999  1.3124997  1.3124997 
Series E Preferred Stock 0.414063  —  1.2421890  — 
Series F Preferred Stock 0.375  —  0.375  (2) — 

(1)We fully redeemed all outstanding shares of both Series A Preferred Stock and Series B Preferred Stock on October 28, 2019.
(2)Prior to July 1, 2020, Series F Preferred Stock distributions were declared, but not paid, as there were no Series F Preferred Stock shares outstanding on the applicable dividend record dates.