CAPITAL STOCK (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Schedule of Stock by Class

The following table provides a summary of the Company’s common shares authorized, and issued and outstanding at September 30, 2019 and December 31, 2018.

	Shares authorized		Shares issued and outstanding
	September 30, 2019	December 31, 2018	September 30, 2019	December 31, 2018	Par Value
Common stock	2,914,850,000	1,924,050,000	1,437,964,466	1,313,763,450	$0.01

The following is a summary of the Company’s cumulative redeemable preferred stock outstanding at September 30, 2019 and December 31, 2018. In the event of a liquidation or dissolution of the Company, the Company’s then outstanding preferred stock takes precedence over the Company’s common stock with respect to payment of dividends and the distribution of assets.

	Shares Authorized		Shares Issued And Outstanding		Carrying Value				Contractual Rate	Earliest Redemption Date (1)	Date At Which Dividend Rate Becomes Floating	Floating Annual Rate
	September 30, 2019	December 31, 2018	September 30, 2019	December 31, 2018	September 30, 2019		December 31, 2018
Fixed-rate		(dollars in thousands)
Series C	—	7,000,000	—	7,000,000	$	—	$	169,466	7.625%	5/16/2017	NA	NA
Series D	18,400,000	18,400,000	18,400,000	18,400,000	445,457		445,457		7.50%	9/13/2017	NA	NA
Series H	—	2,200,000	—	2,200,000	—		55,000		8.125%	5/22/2019	NA	NA
Fixed-to-floating rate
Series F	28,800,000	28,800,000	28,800,000	28,800,000	696,910		696,910		6.95%	9/30/2022	9/30/2022	3M LIBOR + 4.993%
Series G	19,550,000	19,550,000	17,000,000	17,000,000	411,335		411,335		6.50%	3/31/2023	3/31/2023	3M LIBOR + 4.172%
Series I	18,400,000	—	17,700,000	—	428,324		—		6.75%	6/30/2024	6/30/2024	3M LIBOR + 4.989%
Total	85,150,000	75,950,000	81,900,000	73,400,000	$	1,982,026	$	1,778,168
(1)    Subject to the Company’s right under limited circumstances to redeem preferred stock earlier in order to preserve its qualification as a REIT or under limited circumstances related to a change in control of the Company.

Summary of Dividend Reinvestment Plan

The following table provides a summary of activity related to the Company’s Direct Purchase and Dividend Reinvestment Program.

	Nine Months Ended
	September 30, 2019		September 30, 2018
	(dollars in thousands)
Shares issued through direct purchase and dividend reinvestment program	180,000		245,000
Amount raised from direct purchase and dividend reinvestment program	$	1,795	$	2,584

Summary of Dividend Distribution Activity

The following table provides a summary of the Company’s dividend distribution activity for the periods presented:

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
	(dollars in thousands, except per share data)
Dividends and dividend equivalents declared on common stock and share-based awards	$	359,736	$	365,488	$	1,158,629	$	1,062,685
Distributions declared per common share	$	0.25	$	0.30	$	0.80	$	0.90
Distributions paid to common stockholders after period end	$	359,491	$	102,811	$	359,491	$	102,811
Distributions paid per common share after period end	$	0.25	$	0.08	$	0.25	$	0.08
Date of distributions paid to common stockholders after period end	October 31, 2019		October 31, 2018		October 31, 2019		October 31, 2018
Dividends declared to series C preferred stockholders	$	742	$	3,336	$	7,414	$	10,987
Dividends declared per share of series C preferred stock (1)	$	0.106	$	0.477	$	1.060	$	1.430
Dividends declared to series D preferred stockholders	$	8,625	$	8,625	$	25,875	$	25,875
Dividends declared per share of series D preferred stock	$	0.469	$	0.469	$	1.407	$	1.406
Dividends declared to series E preferred stockholders	$	—	$	—	$	—	$	2,253
Dividends declared per share of series E preferred stock	$	—	$	—	$	—	$	0.196
Dividends declared to series F preferred stockholders	$	12,510	$	12,510	$	37,530	$	37,530
Dividends declared per share of series F preferred stock	$	0.434	$	0.434	$	1.303	$	1.303
Dividends declared to series G preferred stockholders	$	6,906	$	6,906	$	20,718	$	19,875
Dividends declared per share of series G preferred stock	$	0.406	$	0.406	$	1.219	$	1.169
Dividends declared to series H preferred stockholders	$	—	$	298	$	1,862	$	298
Dividends declared per share of series H preferred stock	$	—	$	0.135	$	0.846	$	0.135
Dividends declared to series I preferred stockholders	$	7,668	$	—	$	7,668	$	—
Dividends declared per share of series I preferred stock	$	0.436	$	—	$	0.436	$	—

⁽¹⁾ 

Includes dividends declared per share for shares outstanding at September 30, 2018.