Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.8.0.1
Subsequent Events
 3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

Distributions

On April 10, 2018, our Board of Directors declared the following monthly distributions for the months of April, May and June of 2018:

 
Record Date
 
Payment Date
 
Common Stock Distributions per Share
 
Series A Preferred Distributions per Share
 
Series B Preferred Distributions per Share
 
Series D Preferred Distributions per Share
April 20, 2018
 
April 30, 2018
 
$
0.125

 
$
0.1614583

 
$
0.15625

 
$
0.1458333

May 22, 2018
 
May 31, 2018
 
0.125

 
0.1614583

 
0.15625

 
0.1458333

June 20, 2018
 
June 29, 2018
 
0.125

 
0.1614583

 
0.15625

 
0.1458333


 
 
 
$
0.375

 
$
0.4843749

 
$
0.46875

 
$
0.4374999


Senior Common Stock Distributions
Payable to the Holders of Record During the Month of:
 
Payment Date
 
Distribution per Share
April
 
May 7, 2018
 
$
0.0875

May
 
June 7, 2018
 
0.0875

June
 
July 9, 2018
 
0.0875


 
 
 
$
0.2625



Amendment to Articles of Incorporation

On April 11, 2018, we filed with the Maryland State Department of Assessments and Taxation an Articles Supplementary reclassifying 3,500,000 authorized but unissued shares of our convertible Senior Common Stock, as authorized but unissued shares of our common stock. As a result of the reclassification, there were 57,969 authorized but unissued shares of Senior Common Stock remaining.

On April 11, 2018, we also filed with the Maryland State Department of Assessments and Taxation an Articles of Amendment to increase our authorized common stock to 87,700,000 shares.

Financing Activity

On April 18, 2018, we extended the maturity dates on two variable rate mortgage notes totaling $13.0 million from July 2018 to July 2020.

ATM Equity Activity

Subsequent to March 31, 2018 and through May 1, 2018, we raised $1.0 million in net proceeds from the sale of 38,708 shares of Series D Preferred Stock in our Series D Preferred ATM Program. We made no sales under our Common Stock ATM Program or Series A and B Preferred Stock ATM Program subsequent to March 31, 2018 and through May 1, 2018.