Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.21.2
Equity and Mezzanine Equity (Tables)
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Summary of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three and six months ended June 30, 2021 and 2020 (in thousands):
 
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
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 $ 36  $ 34  $ 35  $ 32 
Issuance of common stock, net —  —  1  2 
Balance, end of period $ 36  $ 34  $ 36  $ 34 
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 $ 639,053  $ 599,232  $ 626,533  $ 571,205 
Issuance of common stock and Series F preferred stock, net (1) 9,099  508  20,411  28,438 
Redemption of OP Units —  —  4,812  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (40) 1  (3,644) 98 
Balance, end of period $ 648,112  $ 599,741  $ 648,112  $ 599,741 
Accumulated Other Comprehensive Income
Balance, beginning of period $ (1,921) $ (4,654) $ (4,345) $ (2,126)
Comprehensive income (720) (481) 1,704  (3,009)
Balance, end of period $ (2,641) $ (5,135) $ (2,641) $ (5,135)
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (425,422) $ (374,259) $ (409,041) $ (360,978)
Distributions declared to common, senior common, and preferred stockholders (16,701) (15,634) (33,163) (31,184)
Redemption of Series D preferred stock, net (2,141) —  (2,141) — 
Net income attributable to the Company 2,142  993  2,223  3,262 
Balance, end of period $ (442,122) $ (388,900) $ (442,122) $ (388,900)
Total Stockholders' Equity
Balance, beginning of period $ 211,747  $ 220,354  $ 213,183  $ 208,134 
Issuance of common stock and Series F preferred stock, net (1) 9,099  508  20,412  28,440 
Redemption of OP Units —  —  4,812  — 
Redemption of Series D preferred stock, net (2,141) —  (2,141) — 
Distributions declared to common, senior common, and preferred stockholders (16,701) (15,634) (33,163) (31,184)
Comprehensive income (720) (481) 1,704  (3,009)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (40) 1  (3,644) 98 
Net income attributable to the Company 2,142  993  2,223  3,262 
Balance, end of period $ 203,386  $ 205,741  $ 203,386  $ 205,741 
Non-Controlling Interest
Balance, beginning of period $ 1,416  $ 3,110  $ 2,854  $ 2,903 
Distributions declared to Non-controlling OP Unit holders (97) (189) (285) (378)
Issuance of Non-controlling OP Units as consideration in real estate acquisitions, net —  —  —  502 
Redemptions of OP Units —  —  (4,812) — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 40  (1) 3,644  (98)
Net loss attributable to OP units held by Non-controlling OP Unitholders (21) (28) (63) (37)
Balance, end of period $ 1,338  $ 2,892  $ 1,338  $ 2,892 
Total Equity $ 204,724  $ 208,633  $ 204,724  $ 208,633 
(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 six months ended June 30, 2021 and 2020:

For the three months ended June 30, For the six months ended June 30,
2021 2020 2021 2020
Common Stock and Non-controlling OP Units $ 0.37545  $ 0.37545  $ 0.75090  $ 0.75090 
Senior Common Stock 0.2625  0.2625  0.5250  0.5250 
Series D Preferred Stock 0.4374999  0.4374999  0.8749998  0.8749998 
Series E Preferred Stock 0.414063  0.414063  0.828126  0.828126 
Series F Preferred Stock 0.375  0.375  (1) 0.750  0.375  (1)
(1)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.