Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.20.2
Equity and Mezzanine Equity (Tables)
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Summary of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three and six months ended June 30, 2020 and 2019 (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Series A and B Preferred Stock
2020
2019
 
2020
2019
Balance, beginning of period
$

$
2

 
$

$
2

Issuance of Series A and B preferred stock, net


 


Balance, end of period
$

$
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
$
34

$
30

 
$
32

$
29

Issuance of common stock, net

1

 
2

2

Balance, end of period
$
34

$
31

 
$
34

$
31

Additional Paid in Capital
 
 
 
 
 
Balance, beginning of period
$
599,232

$
573,868

 
$
571,205

$
559,977

Issuance of common stock, net
508

19,135

 
28,438

33,246

Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership
1

(297
)
 
98

(517
)
Balance, end of period
$
599,741

$
592,706

 
$
599,741

$
592,706

Accumulated Other Comprehensive Income
 
 
 
 
 
Balance, beginning of period
$
(4,654
)
$
(870
)
 
$
(2,126
)
$
(148
)
Comprehensive income
(481
)
(989
)
 
(3,009
)
(1,711
)
Balance, end of period
$
(5,135
)
$
(1,859
)
 
$
(5,135
)
$
(1,859
)
Distributions in Excess of Accumulated Earnings
 
 
 
 
 
Balance, beginning of period
$
(374,259
)
$
(319,402
)
 
$
(360,978
)
$
(310,117
)
Distributions declared to common, senior common, and preferred stockholders
(15,634
)
(14,280
)
 
(31,184
)
(28,193
)
Net income attributable to the Company
993

2,221

 
3,262

6,849

Balance, end of period
$
(388,900
)
$
(331,461
)
 
$
(388,900
)
$
(331,461
)
Total Stockholders' Equity
 
 
 
 
 
Balance, beginning of period
$
220,354

$
253,629

 
$
208,134

$
249,744

Issuance of common stock, net
508

19,136

 
28,440

33,248

Distributions declared to common, senior common, and preferred stockholders
(15,634
)
(14,280
)
 
(31,184
)
(28,193
)
Comprehensive income
(481
)
(989
)
 
(3,009
)
(1,711
)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership
1

(297
)
 
98

(517
)
Net income attributable to the Company
993

2,221

 
3,262

6,849

Balance, end of period
$
205,741

$
259,420

 
$
205,741

$
259,420

Non-Controlling Interest
 
 
 
 
 
Balance, beginning of period
$
3,110

$
4,662

 
$
2,903

$
4,675

Distributions declared to Non-controlling OP Unit holders
(189
)
(278
)
 
(378
)
(556
)
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
(1
)
297

 
(98
)
517

Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders
(28
)
(16
)
 
(37
)
29

Balance, end of period
$
2,892

$
4,665

 
$
2,892

$
4,665

Total Equity
$
208,633

$
264,085

 
$
208,633

$
264,085



Dividends Paid
We paid the following distributions per share for the three and six months ended June 30, 2020 and 2019:
 
 
 
For the three months ended June 30,
 
For the six months ended June 30,
 
 
2020
 
2019
 
2020
 
2019
Common Stock and Non-controlling OP Units
 
$
0.37545

 
$
0.37500

 
$
0.75090

 
$
0.75000

Senior Common Stock
 
0.2625

 
0.2625

 
0.5250

 
0.5250

Series A Preferred Stock
 

(1)
0.4843749

 

(1)
0.9687498

Series B Preferred Stock
 

(1)
0.46875

 

(1)
0.9375

Series D Preferred Stock
 
0.4374999

 
0.4374999

 
0.8749998

 
0.8749998

Series E Preferred Stock
 
0.414063

 

 
0.8281260

 

Series F Preferred Stock
 
0.375

(2)

 
0.375

(2)



(1)
We fully redeemed all outstanding shares of both Series A Preferred Stock and Series B Preferred Stock on October 28, 2019.
(2)
Series F Preferred Stock distributions were declared, but not paid, as there were no Series F Preferred Stock shares outstanding on the applicable dividend record dates.