Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The following events occurred subsequent to September 30, 2016:

Real Estate Investment Activity

From October 1, 2016 through October 28, 2016, the Company sold nine properties for an aggregate gross sales price of $57.2 million, of which our share was $54.8 million and an estimated gain of $3.0 million.

Common Stock Dividend

On November 1, 2016, the Company’s board of directors declared a quarterly cash dividend of $0.1375 per share of common stock (equaling an annualized dividend rate of $0.55 per share) for the fourth quarter of 2016 to stockholders of record as of December 30, 2016, which will be paid on January 17, 2017. An equivalent distribution by the Operating Partnership is applicable per OP unit.

Preferred Stock Dividend

On November 1, 2016, the Company’s board of directors declared a monthly cash dividend to holders of the Series F Preferred Stock for January 2017 through March 2017 in respect to the periods included in the table below. The corresponding record and payment dates for each month's Series F Preferred Stock dividend are also shown in the table below.  The dividend for the Series F Preferred Stock accrues daily on a 360-day annual basis equal to an annualized dividend rate of $1.675 per share, or $0.1395833 per 30-day month.

Period	Record Date	Payment Date
December 15, 2016 - January 14, 2017	January 1, 2017	January 17, 2017
January 15, 2017 - February 14, 2017	February 1, 2017	February 15, 2017
February 15, 2017 - March 14, 2017	March 1, 2017	March 15, 2017