| Summary of Changes in Stockholders' Equity |
The following table summarizes the changes in our equity for the three months ended March 31, 2020 and 2019 (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
Series A and B Preferred Stock |
2020 |
2019 |
Balance, beginning of period |
$ |
— |
|
$ |
2 |
|
Issuance of Series A and B preferred stock, net |
— |
|
— |
|
Balance, end of period |
$ |
— |
|
$ |
2 |
|
Senior Common Stock |
|
|
Balance, beginning of period |
$ |
1 |
|
$ |
1 |
|
Issuance of senior common stock, net |
— |
|
— |
|
Balance, end of period |
$ |
1 |
|
$ |
1 |
|
Common Stock |
|
|
Balance, beginning of period |
$ |
32 |
|
$ |
29 |
|
Issuance of common stock, net |
2 |
|
1 |
|
Balance, end of period |
$ |
34 |
|
$ |
30 |
|
Additional Paid in Capital |
|
|
Balance, beginning of period |
$ |
571,205 |
|
$ |
559,977 |
|
Issuance of common stock, net |
27,930 |
|
14,111 |
|
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership |
97 |
|
(220 |
) |
Balance, end of period |
$ |
599,232 |
|
$ |
573,868 |
|
Accumulated Other Comprehensive Income |
|
|
Balance, beginning of period |
$ |
(2,126 |
) |
$ |
(148 |
) |
Comprehensive income |
(2,528 |
) |
(722 |
) |
Balance, end of period |
$ |
(4,654 |
) |
$ |
(870 |
) |
Distributions in Excess of Accumulated Earnings |
|
|
Balance, beginning of period |
$ |
(360,978 |
) |
$ |
(310,117 |
) |
Distributions declared to common, senior common, and preferred stockholders |
(15,548 |
) |
(13,913 |
) |
Net income attributable to the Company |
2,267 |
|
4,628 |
|
Balance, end of period |
$ |
(374,259 |
) |
$ |
(319,402 |
) |
Total Stockholders' Equity |
|
|
Balance, beginning of period |
$ |
208,134 |
|
$ |
249,744 |
|
Issuance of common stock, net |
27,932 |
|
14,112 |
|
Distributions declared to common, senior common, and preferred stockholders |
(15,548 |
) |
(13,913 |
) |
Comprehensive income |
(2,528 |
) |
(722 |
) |
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership |
97 |
|
(220 |
) |
Net income attributable to the Company |
2,267 |
|
4,628 |
|
Balance, end of period |
$ |
220,354 |
|
$ |
253,629 |
|
Non-Controlling Interest |
|
|
Balance, beginning of period |
$ |
2,903 |
|
$ |
4,675 |
|
Distributions declared to Non-controlling OP Unit holders |
(189 |
) |
(278 |
) |
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 |
(97 |
) |
220 |
|
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders |
(9 |
) |
45 |
|
Balance, end of period |
$ |
3,110 |
|
$ |
4,662 |
|
Total Equity |
$ |
223,464 |
|
$ |
258,291 |
|
|