Quarterly report pursuant to Section 13 or 15(d)

Equity and Mezzanine Equity (Tables)

v3.23.1
Equity and Mezzanine Equity (Tables)
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Summary of Changes in Stockholders' Equity
The following table summarizes the changes in our equity for the three months ended March 31, 2023 and 2022 (in thousands):
 
Three Months Ended March 31,
2023 2022
Senior Common Stock
Balance, beginning of period $ 1  $ 1 
Issuance of senior common stock, net —  — 
Balance, end of period $ 1  $ 1 
Common Stock
Balance, beginning of period $ 39  $ 37 
Issuance of common stock, net 1  1 
Balance, end of period $ 40  $ 38 
Series F Preferred Stock
Balance, beginning of period $ 1  $ — 
Issuance of Series F preferred stock, net —  — 
Redemption of Series F preferred stock, net —  — 
Balance, end of period $ 1  $ — 
Additional Paid in Capital
Balance, beginning of period $ 721,327  $ 671,134 
Issuance of common stock and Series F preferred stock, net 4,385  21,749 
Redemption of Series F preferred stock, net 86  55 
Retirement of senior common stock, net 52  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 24  (143)
Balance, end of period $ 725,874  $ 692,795 
Accumulated Other Comprehensive Income
Balance, beginning of period $ 11,640  $ (1,346)
Comprehensive (loss) income (5,895) 4,267 
Reclassification into interest expense 263  — 
Balance, end of period $ 6,008  $ 2,921 
Distributions in Excess of Accumulated Earnings
Balance, beginning of period $ (530,228) $ (468,523)
Distributions declared to common, senior common, and preferred stockholders (15,108) (17,354)
Redemption of Series F preferred stock, net (5) (5)
Net income attributable to the Company 2,404  3,389 
Balance, end of period $ (542,937) $ (482,493)
Total Stockholders' Equity
Balance, beginning of period $ 202,780  $ 201,303 
Issuance of common stock and Series F preferred stock, net 4,386  21,750 
Redemption of Series F preferred stock, net 81  50 
Retirement of senior common stock, net 52  — 
Distributions declared to common, senior common, and preferred stockholders (15,108) (17,354)
Comprehensive (loss) income (5,895) 4,267 
Reclassification into interest expense 263  — 
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership 24  (143)
Net income attributable to the Company 2,404  3,389 
Balance, end of period $ 188,987  $ 213,262 
Non-Controlling Interest
Balance, beginning of period $ 1,790  $ 1,259 
Distributions declared to Non-controlling OP Unit holders (118) (96)
Adjustment to OP Units held by Non-controlling OP Unitholders resulting from changes in ownership of the Operating Partnership (24) 143 
Net (loss) income (attributable) available to OP units held by Non-controlling OP Unitholders (7) 2 
Balance, end of period $ 1,641  $ 1,308 
Total Equity $ 190,628  $ 214,570 
Schedule of Dividends Paid
We paid the following distributions per share for the three months ended March 31, 2023 and 2022:

For the three months ended March 31,
2023 2022
Common Stock and Non-controlling OP Units $ 0.30000  $ 0.37620 
Senior Common Stock 0.2625  0.2625 
Series E Preferred Stock 0.414063  0.414063 
Series F Preferred Stock 0.375  0.375 
Series G Preferred Stock 0.375  0.375