Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.21.2
EQUITY (Tables)
 9 Months Ended
Sep. 30, 2021
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 and nine months ended September 30, 2021 and 2020 (dollars in thousands, except per-share amounts):
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Number of shares sold(1)
578,426  289,494  1,517,446  420,196 
Weighted-average offering price per share $ 24.85  $ 24.82  $ 24.84  $ 24.86 
Gross proceeds $ 14,372  $ 7,184  $ 37,687  $ 10,444 
Net proceeds(2)
$ 13,159  $ 6,586  $ 34,522  $ 9,559 
(1)Excludes shares issued pursuant to the DRIP. During the three and nine months ended September 30, 2021, we issued approximately 2,642 and 4,643 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 and nine months ended September 30, 2021 and 2020 (dollars in thousands, except per-share amounts):
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Number of shares sold 1,565,925  526,016  5,824,970  979,945 
Weighted-average offering price per share $ 23.66  $ 16.13  $ 21.19  $ 14.94 
Gross proceeds $ 37,053  $ 8,483  $ 123,458  $ 14,638 
Net proceeds(1)
$ 36,682  $ 8,398  $ 122,223  $ 14,491 
(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 and nine months ended September 30, 2021 and 2020 are reflected in the table below.
Three months ended September 30, Nine months ended September 30,
Issuance 2021 2020 2021 2020
Series A Term Preferred Stock(1)(2)
$ —  $ 0.398438  $ 0.181510  $ 1.195313 
Series B Preferred Stock 0.375 0.375 1.125 1.125
Series C Preferred Stock 0.375 0.375 1.125 0.750
Series D Term Preferred Stock(1)(3)
0.312501 —  0.871530 — 
Common Stock(4)
0.13530 0.13440 0.40515 0.40245
(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.