Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The following events occurred subsequent to March 31, 2017:

Real Estate Investment Activity

From April 1, 2017 through April 28, 2017, the Company sold five properties for an aggregate gross sales price of $16.9 million, of which our share was $14.7 million and an estimated gain of $1.8 million. In addition, the Company acquired two properties for an aggregate purchase price of $14.6 million.

Common Stock Dividend

On May 3, 2017, 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 second quarter of 2017 to stockholders of record as of June 30, 2017, which will be paid on July 17, 2017. An equivalent distribution by the Operating Partnership is applicable per OP unit.

Preferred Stock Dividend

On May 3, 2017, the Company’s board of directors declared a monthly cash dividend to holders of the Series F Preferred Stock for July 2017 through September 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 $0.1395833per 30-day month.

Period	Record Date	Payment Date
June 15, 2017 - July 14, 2017	July 1, 2017	July 17, 2017
July 15, 2017 - August 14, 2017	August 1, 2017	August 15, 2017
August 15, 2017 - September 14, 2017	September 1, 2017	September 15, 2017