Subsequent Events

6 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The following events occurred subsequent to June 30, 2017:

Real Estate Investment Activity

From July 1, 2017 through August 1, 2017, the Company sold seven properties for an aggregate gross sales price of $10.5 million, of which our share was $9.6 million and an estimated gain of $0.4 million. In addition, the Company acquired three properties for an aggregate purchase price of $70.2 million.

Common Stock Dividend

On August 2, 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 third quarter of 2017 to stockholders of record as of September 29, 2017, which will be paid on October 16, 2017. An equivalent distribution by the Operating Partnership is applicable per OP unit.

Preferred Stock Dividend

On August 2, 2017, the Company’s board of directors declared a monthly cash dividend to holders of the Series F Preferred Stock for October 2017 through December 2017 with 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
September 15, 2017 - October 14, 2017	October 1, 2017	October 16, 2017
October 15, 2017 - November 14, 2017	November 1, 2017	November 15, 2017
November 15, 2017 - December 14, 2017	December 1, 2017	December 15, 2017