Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.19.3
Equity and Mezzanine Equity (Tables)
9 Months Ended
Sep. 30, 2019
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, 2019 and 2018 (in thousands):
 
 
Three Months Ended September 30,
Nine Months Ended September 30,
Series A and B Preferred Stock
2019
2018
2019
2018
Balance, beginning of period
$
2

$
2

$
2

$
2

Issuance of Series A and B preferred stock, net




Balance, end of period
$
2

$
2

$
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
$
31

$
29

$
29

$
28

Issuance of common stock, net


2

1

Balance, end of period
$
31

$
29

$
31

$
29

Additional Paid in Capital
 
 
 
 
Balance, beginning of period
$
592,706

$
538,276

$
559,977

$
534,790

Issuance of Series A and B preferred stock and common stock, net
7,362

6,619

40,608

10,139

Retirement of senior common stock, net



(34
)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership
(112
)

(629
)

Balance, end of period
$
599,956

$
544,895

$
599,956

$
544,895

Accumulated Other Comprehensive Income
 
 
 
 
Balance, beginning of period
$
(1,859
)
$
818

$
(148
)
$
35

Comprehensive income
(624
)
245

(2,335
)
1,028

Balance, end of period
$
(2,483
)
$
1,063

$
(2,483
)
$
1,063

Distributions in Excess of Accumulated Earnings
 
 
 
 
Balance, beginning of period
$
(331,461
)
$
(287,910
)
$
(310,117
)
$
(268,058
)
Distributions declared to common, senior common, and preferred stockholders
(14,482
)
(13,633
)
(42,674
)
(40,615
)
Net income
2,207

2,677

9,055

9,807

Balance, end of period
$
(343,736
)
$
(298,866
)
$
(343,736
)
$
(298,866
)
Total Stockholders' Equity
 
 
 
 
Balance, beginning of period
$
259,420

$
251,216

$
249,744

$
266,798

Issuance of Series A and B preferred stock and common stock, net
7,362

6,619

40,610

10,140

Retirement of senior common stock, net



(34
)
Distributions declared to common, senior common, and preferred stockholders
(14,482
)
(13,633
)
(42,674
)
(40,615
)
Comprehensive income
(624
)
245

(2,335
)
1,028

Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership
(112
)

(629
)

Net income
2,207

2,677

9,055

9,807

Balance, end of period
$
253,771

$
247,124

$
253,771

$
247,124

Non-Controlling Interest
 
 
 
 
Balance, beginning of period
$
4,665

$

$
4,675

$

Distributions declared to Non-controlling OP Unit holders
(279
)

(835
)

Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership
112


629


Net income
(16
)

13


Balance, end of period
$
4,482

$

$
4,482

$

Total Equity
$
258,253

$
247,124

$
258,253

$
247,124

Dividends Paid
We paid the following distributions per share for the three and nine months ended September 30, 2019 and 2018:
 
 
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
 
2019
 
2018
 
2019
 
2018
Common Stock and Non-controlling OP Units
 
$
0.375

 
$
0.375

 
$
1.125

 
$
1.125

Senior Common Stock
 
0.2625

 
0.2625

 
0.7875

 
0.7875

Series A Preferred Stock
 
0.4843749

 
0.4843749

 
1.4531247

 
1.4531247

Series B Preferred Stock
 
0.46875

 
0.46875

 
1.4063

 
1.4063

Series D Preferred Stock
 
0.4374999

 
0.4374999

 
1.3124997

 
1.3124997