Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.23.3
Equity and Mezzanine Equity (Tables)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three and nine months ended September 30, 2023 and 2022 (in thousands):
 
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
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 $ 39  $ 39  $ 39  $ 37 
Issuance of common stock, net —  —  1  2 
Repurchase of common stock, net —  —  (1) — 
Balance, end of period $ 39  $ 39  $ 39  $ 39 
Series F Preferred Stock
Balance, beginning of period $ 1  $ 1  $ 1  $ — 
Issuance of Series F preferred stock, net —  —  —  1 
Balance, end of period $ 1  $ 1  $ 1  $ 1 
Additional Paid in Capital
Balance, beginning of period $ 728,580  $ 705,629  $ 721,327  $ 671,134 
Issuance of common stock and Series F preferred stock, net 690  9,856  6,725  44,513 
Repurchase of common stock, net —  —  998  — 
Redemption of Series F preferred stock, net 183  —  401  55 
Retirement of senior common stock, net —  —  52  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (53) 1,613  (103) 1,396 
Balance, end of period $ 729,400  $ 717,098  $ 729,400  $ 717,098 
Accumulated Other Comprehensive Income
Balance, beginning of period $ 14,297  $ 5,524  $ 11,640  $ (1,346)
Comprehensive income 5,089  6,790  7,218  13,660 
Reclassification into interest expense 409  52  937  52 
Balance, end of period $ 19,795  $ 12,366  $ 19,795  $ 12,366 
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (560,719) $ (498,856) $ (529,104) $ (468,908)
Distributions declared to common, senior common, and preferred stockholders (15,182) (17,984) (45,445) (53,000)
Redemption of Series F preferred stock, net (1) —  (12) (5)
Net income attributable to the Company 1,789  2,791  448  7,864 
Balance, end of period $ (574,113) $ (514,050) $ (574,113) $ (514,050)
Total Stockholders' Equity
Balance, beginning of period $ 182,199  $ 212,338  $ 203,904  $ 200,918 
Issuance of common stock and Series F preferred stock, net 690  9,856  6,726  44,516 
Repurchase of common stock, net —  —  997  — 
Redemption of Series F preferred stock, net 182  —  389  50 
Retirement of senior common stock, net —  —  52  — 
Distributions declared to common, senior common, and preferred stockholders (15,182) (17,984) (45,445) (53,000)
Comprehensive income 5,089  6,790  7,218  13,660 
Reclassification into interest expense 409  52  937  52 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (53) 1,613  (103) 1,396 
Net income attributable to the Company 1,789  2,791  448  7,864 
Balance, end of period $ 175,123  $ 215,455  $ 175,123  $ 215,455 
Non-Controlling Interest
Balance, beginning of period $ 1,524  $ 1,275  $ 1,790  $ 1,259 
Distributions declared to Non-controlling OP Unit holders (117) (114) (352) (307)
Issuance of Non-controlling OP Units as consideration in real estate acquisitions, net —  2,394  —  2,394 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 53  (1,613) 103  (1,396)
Net income (loss) available (attributable) to OP units held by Non-controlling OP Unitholders 3  (4) (78) (12)
Balance, end of period $ 1,463  $ 1,938  $ 1,463  $ 1,938 
Total Equity $ 176,586  $ 217,393  $ 176,586  $ 217,393 
Schedule of Dividends Paid
We paid the following distributions per share for the three and nine months ended September 30, 2023 and 2022:

For the three months ended September 30, For the nine months ended September 30,
2023 2022 2023 2022
Common Stock and Non-controlling OP Units $ 0.30000  $ 0.37620  $ 0.90000  $ 1.12860 
Senior Common Stock 0.2625  0.2625  0.7875  0.7875 
Series E Preferred Stock 0.414063  0.414063  1.242189  1.242189 
Series F Preferred Stock 0.375  0.375  1.125  1.125 
Series G Preferred Stock 0.375  0.375  1.125  1.125