| 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):
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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 |
|
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