Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Distributions

On July 13, 2021, our Board of Directors declared the following monthly distributions for the months of July, August and September of 2021:

Record Date	Payment Date	Common Stock and Non-controlling OP Unit Distributions per Share		Series E Preferred Distributions per Share		Series G Preferred Distributions per Share
July 23, 2021	July 30, 2021	$	0.12515	$	0.138021	$	0.125
August 23, 2021	August 31, 2021	0.12515		0.138021		0.125
September 22, 2021	September 30, 2021	0.12515		0.138021		0.125
		$	0.37545	$	0.414063	$	0.375

Senior Common Stock Distributions
Payable to the Holders of Record During the Month of:	Payment Date	Distribution per Share
July	August 6, 2021	$	0.0875
August	September 3, 2021	0.0875
September	October 6, 2021	0.0875
		$	0.2625

Series F Preferred Stock Distributions
Record Date	Payment Date	Distribution per Share
July 28, 2021	August 6, 2021	$	0.125
August 25, 2021	September 3, 2021	0.125
September 29, 2021	October 6, 2021	0.125
		$	0.375

Equity Activity

Equity Issuances

Subsequent to June 30, 2021 and through August 9, 2021, we raised $2.1 million in net proceeds from the sale of 95,218 shares of common stock under our Common Stock ATM Program and $1.7 million in net proceeds from the sale of 74,560 shares of Series F Preferred Stock.

Articles Supplementary Reclassifying Remaining Series D Preferred Stock

On August 5, 2021, we filed Articles Supplementary (the “Reclassification Articles Supplementary”) with the SDAT, pursuant to which our board of directors reclassified and designated the remaining 2,490,445 shares of authorized but unissued Series D Preferred Stock as additional shares of common stock. After giving effect to the filing of the Reclassification Articles Supplementary, our authorized capital stock consists of 62,290,000 shares of common stock, 6,760,000 shares of Series E Preferred Stock, 26,000,000 shares of Series F Preferred Stock, 4,000,000 shares of Series G Preferred Stock, and 950,000 shares of senior common stock. The Reclassification Articles Supplementary did not increase our authorized shares of capital stock.

Financing

On July 20, 2021, we drew the remaining $15.0 million available under our Term Loan B to fund our Pacific, Missouri acquisition.

Acquisitions

On July 21, 2021, we purchased a four property, 80,604 square foot industrial portfolio in Pacific, Missouri, for $22.1 million. These properties are fully leased to one tenant on a triple net basis with a remaining lease term of 17.4 years.