Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.22.2
Equity and Mezzanine Equity (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022 and 2021 (in thousands):
 
Three Months Ended June 30, Six Months Ended June 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 $ 38  $ 36  $ 37  $ 35 
Issuance of common stock, net 1  —  2  1 
Balance, end of period $ 39  $ 36  $ 39  $ 36 
Series F Preferred Stock
Balance, beginning of period $ —  $ —  $ —  $ — 
Issuance of Series F preferred stock, net 1  —  1  — 
Redemption of Series F preferred stock, net —  —  —  — 
Balance, end of period $ 1  $ —  $ 1  $ — 
Additional Paid in Capital
Balance, beginning of period $ 692,795  $ 639,053  $ 671,134  $ 626,533 
Issuance of common stock and Series F preferred stock, net 12,908  9,099  34,657  20,411 
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 (74) (40) (217) (3,644)
Balance, end of period $ 705,629  $ 648,112  $ 705,629  $ 648,112 
Accumulated Other Comprehensive Income
Balance, beginning of period $ 2,921  $ (1,921) $ (1,346) $ (4,345)
Comprehensive income 2,603  (720) 6,870  1,704 
Balance, end of period $ 5,524  $ (2,641) $ 5,524  $ (2,641)
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (482,493) $ (425,422) $ (468,523) $ (409,041)
Distributions declared to common, senior common, and preferred stockholders (17,663) (16,701) (35,019) (33,163)
Redemption of Series D preferred stock, net —  (2,141) —  (2,141)
Redemption of Series F preferred stock, net —  —  (5) — 
Net income attributable to the Company 1,582  2,142  4,973  2,223 
Balance, end of period $ (498,574) $ (442,122) $ (498,574) $ (442,122)
Total Stockholders' Equity
Balance, beginning of period $ 213,262  $ 211,747  $ 201,303  $ 213,183 
Issuance of common stock and Series F preferred stock, net 12,910  9,099  34,660  20,412 
Redemption of OP Units —  —  —  4,812 
Redemption of Series D preferred stock, net —  (2,141) —  (2,141)
Redemption of Series F preferred stock, net —  —  50  — 
Distributions declared to common, senior common, and preferred stockholders (17,663) (16,701) (35,019) (33,163)
Comprehensive income 2,603  (720) 6,870  1,704 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (74) (40) (217) (3,644)
Net income attributable to the Company 1,582  2,142  4,973  2,223 
Balance, end of period $ 212,620  $ 203,386  $ 212,620  $ 203,386 
Non-Controlling Interest
Balance, beginning of period $ 1,308  $ 1,416  $ 1,259  $ 2,854 
Distributions declared to Non-controlling OP Unit holders (97) (97) (193) (285)
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 74  40  217  3,644 
Net loss attributable to OP units held by Non-controlling OP Unitholders (10) (21) (8) (63)
Balance, end of period $ 1,275  $ 1,338  $ 1,275  $ 1,338 
Total Equity $ 213,895  $ 204,724  $ 213,895  $ 204,724 
Dividends Paid
We paid the following distributions per share for the three and six months ended June 30, 2022 and 2021:

For the three months ended June 30, For the six months ended June 30,
2022 2021 2022 2021
Common Stock and Non-controlling OP Units $ 0.37620  $ 0.37545  $ 0.75240  $ 0.75090 
Senior Common Stock 0.2625  0.2625  0.5250  0.5250 
Series D Preferred Stock —  (1) 0.4374999  —  (1) 0.8749998 
Series E Preferred Stock 0.414063  0.414063  0.828126  0.828126 
Series F Preferred Stock 0.375  0.375  0.750  0.750 
Series G Preferred Stock 0.375  (2) —  0.750  (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.