Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v2.4.0.8
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Summary of Changes in Stockholders' Equity

The following table summarizes the changes in our stockholders’ equity for the nine months ended September 30, 2013 (in thousands):

 

     Preferred
Stock		      Senior
Common
Stock		      Common
Stock		      Capital in
Excess of
Par Value		      Notes
Receivable
from
Employees		     Distributions
in Excess of
Accumulated
Earnings		     Total
Stockholders’
Equity		  

Balance at December 31, 2012

    $ 2       $ —         $ 11       $ 215,470       $ (410 )    $ (92,708 )    $ 122,365   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

Issuance of senior common stock and common stock, net

      —           —           3         58,689         —          —          58,692   

Repayment of principal on employee notes receivable

      —           —           —           —           35        —          35   

Distributions declared to common, senior common and preferred stockholders

      —           —           —           —           —          (17,429 )      (17,429 ) 

Net income

      —           —           —           —           —          1,194        1,194   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

    

 

 

  

Balance at September 30, 2013

    $ 2       $ —         $ 14       $ 274,159       $ (375 )    $ (108,943 )    $ 164,857  
Dividends Declared

Our Board of Directors declared the following distributions per share for the three and nine months ended September 30, 2013 and 2012:

 

     For the three months ended September 30,      For the nine months ended September 30,  
     2013      2012      2013      2012  

Common Stock

    $ 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 C Preferred Stock (1)

      0.4453125         0.4453125         1.3359         1.1875   

 

(1)  The Series C Preferred Stock was issued on January 31, 2012.
Summary of Outstanding Note Issued to an Employee for the Exercise of Stock Options

The following table is a summary of the outstanding note issued to an employee of the Adviser for the exercise of stock options (dollars in thousands):

 

Date Issued

    Outstanding Balance
of Employee Loan at
September 30, 2013		      Outstanding Balance
of Employee Loans at
December 31, 2012		      Maturity Date
of Note		      Interest Rate
on Note		  

Nov 2006

    $ 375       $ 410         Nov 2015         8.15 %