Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.22.2.2
Equity and Mezzanine Equity (Tables)
 9 Months Ended
Sep. 30, 2022
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, 2022 and 2021 (in thousands):
 
Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
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  $ 36  $ 37  $ 35 
Issuance of common stock, net —  1  2  2 
Balance, end of period $ 39  $ 37  $ 39  $ 37 
Series F Preferred Stock
Balance, beginning of period $ 1  $ —  $ —  $ — 
Issuance of Series F preferred stock, net —  —  1  — 
Redemption of Series F preferred stock, net —  —  —  — 
Balance, end of period $ 1  $ —  $ 1  $ — 
Additional Paid in Capital
Balance, beginning of period $ 705,629  $ 648,112  $ 671,134  $ 626,533 
Issuance of common stock and Series F preferred stock, net 9,856  8,699  44,513  29,110 
Redemption of OP Units —  —  —  4,812 
Redemption of Series F preferred stock, net —  —  55  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 1,613  (21) 1,396  (3,665)
Balance, end of period $ 717,098  $ 656,790  $ 717,098  $ 656,790 
Accumulated Other Comprehensive Income
Balance, beginning of period $ 5,524  $ (2,641) $ (1,346) $ (4,345)
Comprehensive income 6,790  421  13,660  2,125 
Reclassification into interest expense 52  145  52  145 
Balance, end of period $ 12,366  $ (2,075) $ 12,366  $ (2,075)
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (498,574) $ (442,122) $ (468,523) $ (409,041)
Distributions declared to common, senior common, and preferred stockholders (17,984) (16,849) (53,000) (50,011)
Redemption of Series D preferred stock, net —  —  —  (2,141)
Redemption of Series F preferred stock, net —  —  (5) — 
Net income attributable to the Company 2,501  4,477  7,471  6,699 
Balance, end of period $ (514,057) $ (454,494) $ (514,057) $ (454,494)
Total Stockholders' Equity
Balance, beginning of period $ 212,620  $ 203,386  $ 201,303  $ 213,183 
Issuance of common stock and Series F preferred stock, net 9,856  8,700  44,516  29,112 
Redemption of OP Units —  —  —  4,812 
Redemption of Series D preferred stock, net —  —  —  (2,141)
Redemption of Series F preferred stock, net —  —  50  — 
Distributions declared to common, senior common, and preferred stockholders (17,984) (16,849) (53,000) (50,011)
Comprehensive income 6,790  421  13,660  2,125 
Reclassification into interest expense 52  145  52  145 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 1,613  (21) 1,396  (3,665)
Net income attributable to the Company 2,501  4,477  7,471  6,699 
Balance, end of period $ 215,448  $ 200,259  $ 215,448  $ 200,259 
Non-Controlling Interest
Balance, beginning of period $ 1,275  $ 1,338  $ 1,259  $ 2,854 
Distributions declared to Non-controlling OP Unit holders (114) (97) (307) (382)
Issuance of Non-controlling OP Units as consideration in real estate acquisitions, net 2,394  —  2,394  — 
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 (1,613) 21  (1,396) 3,665 
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders (4) 21  (12) (42)
Balance, end of period $ 1,938  $ 1,283  $ 1,938  $ 1,283 
Total Equity $ 217,386  $ 201,542  $ 217,386  $ 201,542 
Schedule of Dividends Paid
We paid the following distributions per share for the three and nine months ended September 30, 2022 and 2021:

For the three months ended September 30, For the nine months ended September 30,
2022 2021 2022 2021
Common Stock and Non-controlling OP Units $ 0.37620  $ 0.37545  $ 1.12860  $ 1.12635 
Senior Common Stock 0.2625  0.2625  0.7875  0.7875 
Series D Preferred Stock —  —  (1) —  0.8749998  (1)
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  (2) 1.125  0.375  (2)
(1)We redeemed all outstanding shares of our Series D Preferred Stock on June 30, 2021.
(2)Our shares of Series G Preferred Stock were issued on June 28, 2021.