CAPITAL STOCK (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020 and December 31, 2019.

	Shares authorized		Shares issued and outstanding
	September 30, 2020	December 31, 2019	September 30, 2020	December 31, 2019	Par Value
Common stock	2,914,850,000	2,914,850,000	1,402,928,317	1,430,106,199	$0.01

The following is a summary of the Company’s cumulative redeemable preferred stock outstanding at September 30, 2020 and December 31, 2019. 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, 2020	December 31, 2019	September 30, 2020	December 31, 2019	September 30, 2020		December 31, 2019
Fixed-rate		(dollars in thousands)
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
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	18,400,000	17,700,000	17,700,000	428,324		428,324		6.75%	6/30/2024	6/30/2024	3M LIBOR + 4.989%
Total	85,150,000	85,150,000	81,900,000	81,900,000	$	1,982,026	$	1,982,026
(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, 2020		September 30, 2019
	(dollars in thousands)
Shares issued through direct purchase and dividend reinvestment program	154,000		180,000
Amount raised from direct purchase and dividend reinvestment program	$	1,075	$	1,795

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, 2020		September 30, 2019		September 30, 2020		September 30, 2019
	(dollars in thousands, except per share data)
Dividends and dividend equivalents declared on common stock and share-based awards	$	309,175	$	359,736	$	976,966	$	1,158,629
Distributions declared per common share	$	0.22	$	0.25	$	0.69	$	0.80
Distributions paid to common stockholders after period end	$	308,644	$	359,491	$	308,644	$	359,491
Distributions paid per common share after period end	$	0.22	$	0.25	$	0.22	$	0.25
Date of distributions paid to common stockholders after period end	October 30, 2020		October 31, 2019		October 30, 2020		October 31, 2019
Dividends declared to series C preferred stockholders	$	—	$	742	$	—	$	7,414
Dividends declared per share of series C preferred stock	$	—	$	0.106	$	—	$	1.060
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	$	1.406	$	1.407
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	$	20,718
Dividends declared per share of series G preferred stock	$	0.406	$	0.406	$	1.219	$	1.219
Dividends declared to series H preferred stockholders	$	—	$	—	$	—	$	1,862
Dividends declared per share of series H preferred stock	$	—	$	—	$	—	$	0.846
Dividends declared to series I preferred stockholders	$	7,468	$	7,668	$	22,404	$	7,668
Dividends declared per share of series I preferred stock	$	0.422	$	0.436	$	1.266	$	0.436