XML 145 R56.htm IDEA: XBRL DOCUMENT v3.20.1
Financial Highlights (Tables)
12 Months Ended
Dec. 31, 2019
Investment Company, Financial Highlights [Abstract]  
Results of Operations For a Share Outstanding
Results of Operations for a Share Outstanding Throughout the Periods:
 
 
Year Ended December 31, 2018
Beginning Shareholders' Equity Per Share (December 31, 2017)
 
$
19.15

Net Investment Income
 
1.42

Net Realized/Unrealized Gains (Losses)
 
0.23

Results of Operations Attributable to Equity
 
1.65

Less: Results of Operations Attributable to Non-controlling Interests
 
(0.11
)
Results of Operations Attributable to Shareholders' Equity(1)
 
1.54

Dividends Paid to Common Shareholders
 
(1.64
)
Weighted Average Share Impact on Dividends Paid (2)
 
(0.03
)
Accretive (Dilutive) Effect of Share Issuances (Net of Offering Costs), Share Repurchases, and Adjustments to Non-controlling Interest
 
(0.10
)
Ending Shareholders' Equity Per Share (December 31, 2018)(3)
 
$
18.92

Shares Outstanding, end of period
 
29,796,601

(1)
Calculated based on average common shares outstanding and can differ from the calculation for EPS (See Note 13).
(2)
Per share impact on dividends paid relating to share issuances/repurchases during the period as well as dividends paid to LTIP and OP Unit holders.
(3)
If all LTIP Units and OP Units previously issued were vested and exchanged for common shares as of December 31, 2018 shareholders' equity per share would be $18.92.
Net Asset Value Based Total Return For a Shareholder
The following table illustrates the Company's total return for the periods presented based on net asset value:
Net Asset Value Based Total Return for a Shareholder: (1) 
 
 
Year Ended December 31, 2018(2)
Total Return
 
7.38%
(1)
Total return is calculated assuming reinvestment of distributions at shareholders' equity per share during the period.
Net Investment Income Ratio to Average Equity
Net Investment Income Ratio to Average Equity: (1) 
 
 
Year Ended December 31, 2018
Net Investment Income
 
7.04%
(1)
Average equity is calculated using month end values.
Expense Ratios to Average Equity
Expense Ratios to Average Equity: (1) 
 
 
Year Ended December 31, 2018
Operating expenses, before interest expense and other investment related expenses
 
(2.86)%
Incentive fee
 
(0.12)%
Interest expense and other investment related expenses
 
(12.03)%
Total Expenses
 
(15.01)%
(1)
Average equity is calculated using month end values.