CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Stock by Class

The following is a summary of the Company’s cumulative redeemable preferred stock outstanding at December 31, 2019 and 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
	December 31, 2019	December 31, 2018	December 31, 2019	December 31, 2018	December 31, 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.

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

	Shares authorized		Shares issued and outstanding
	December 31, 2019	December 31, 2018	December 31, 2019	December 31, 2018	Par Value
Common stock	2,914,850,000	1,924,050,000	1,430,106,199	1,313,763,450	$0.01

Summary of Dividend Reinvestment Plan

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

	December 31, 2019		December 31, 2018
	(dollars in thousands)
Shares issued through direct purchase and dividend reinvestment program	180,000		302,000
Amount raised from direct purchase and dividend reinvestment program	$	1,795	$	3,144

Summary of Dividend Distribution Activity

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

	For the Years Ended
	December 31, 2019		December 31, 2018
	(dollars in thousands, except per share data)
Dividends and dividend equivalents declared on common stock and share-based awards	$	1,516,323	$	1,457,007
Distributions declared per common share	$	1.05	$	1.20
Distributions paid to common stockholders after period end	$	357,527	$	394,129
Distributions paid per common share after period end	$	0.25	$	0.30
Date of distributions paid to common stockholders after period end	January 31, 2020		January 31, 2019
Dividends declared to series C preferred stockholders	$	7,414	$	14,323
Dividends declared per share of series C preferred stock	$	1.060	$	1.906
Dividends declared to series D preferred stockholders	$	34,500	$	34,500
Dividends declared per share of series D preferred stock	$	1.875	$	1.875
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	$	50,040	$	50,040
Dividends declared per share of series F preferred stock	$	1.738	$	1.738
Dividends declared to series G preferred stockholders	$	27,624	$	26,781
Dividends declared per share of series G preferred stock	$	1.625	$	1.575
Dividends declared to series H preferred stockholders	$	1,862	$	1,415
Dividends declared per share of series H preferred stock	$	0.846	$	0.643
Dividends declared to series I preferred stockholders	$	15,135	$	—
Dividends declared per share of series I preferred stock	$	0.858	$	—