Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.22.1
EQUITY (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Sale of Stock by Subsidiary
The following table provides information on sales of our Series C Preferred Stock during the three months ended March 31, 2022 and 2021 (dollars in thousands, except per-share amounts):
Three Months Ended March 31,
2022 2021
Number of shares sold(1)
1,548,931  534,971 
Weighted-average offering price per share $ 24.80  $ 24.89 
Gross proceeds $ 38,416  $ 13,315 
Net proceeds(2)
$ 35,238  $ 12,171 
(1)Excludes shares issued pursuant to the DRIP. During the three months ended March 31, 2022 and 2021, we issued approximately 5,239 and 707 shares, respectively, of the Series C Preferred Stock pursuant to the DRIP.
(2)Net of Selling Commissions, Dealer-Manager Fees, and underwriting discounts.
The following table provides information on shares of common stock sold by the Sales Agents under the ATM Program during the three months ended March 31, 2022 and 2021 (dollars in thousands, except per-share amounts):
Three Months Ended March 31,
2022 2021
Number of shares sold 310,055  1,312,932 
Weighted-average offering price per share $ 33.64  $ 17.17 
Gross proceeds $ 10,431  $ 22,537 
Net proceeds(1)
$ 10,327  $ 22,312 
(1)Net of underwriting commissions.
Monthly Distributions Declared and Paid by Company's Board of Directors
The per-share distributions to preferred and common stockholders declared by our Board of Directors during the three months ended March 31, 2022 and 2021 are reflected in the table below.
Three months ended March 31,
Issuance 2022 2021
Series A Term Preferred Stock(1)(2)
$ —  $ 0.181510 
Series B Preferred Stock 0.375 0.375
Series C Preferred Stock 0.375 0.375
Series D Term Preferred Stock(1)(3)
0.312501 0.246528 
Common Stock(4)
0.1359 0.13485
(1)Dividends are treated similar to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(2)The Series A Term Preferred Stock was redeemed in full on February 12, 2021.
(3)The Series D Term Preferred Stock was issued on January 19, 2021.
(4)The same amounts were paid as distributions on each OP Unit held by non-controlling OP Unitholders.