XML 17 R5.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statement of Equity - USD ($)
$ in Thousands
Total
Preferred stock
Common stock
Additional paid-in capital
Distributions in excess of earnings
Accumulated other comprehensive loss
Total stockholders' equity
Noncontrolling interests in investment entities
Noncontrolling interests in Operating Partnership
Redeemable convertible preferred stock
Redeemable convertible preferred stock
Preferred stock
Redeemable convertible preferred stock
Additional paid-in capital
Redeemable convertible preferred stock
Total stockholders' equity
Operating Partnership
Additional paid-in capital
Operating Partnership
Total stockholders' equity
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjustment
Distributions in excess of earnings
Cumulative Effect, Period of Adoption, Adjustment
Total stockholders' equity
Cumulative Effect, Period of Adoption, Adjustment
Noncontrolling interests in Operating Partnership
Beginning balance at Dec. 31, 2018 $ 455,890 $ 0 $ 500 $ 357,353 $ (82,699) $ (1,283) $ 273,871 $ 0 $ 182,019             $ (167) [1] $ (125) [1] $ (125) [1] $ (42) [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 6,514       4,884   4,884 0 1,630                    
Unrealized cash flow hedge losses (1,003)         (752) (752)   (251)                    
Realized cash flow hedge losses reclassified to net income 72         54 54   18                    
Net proceeds from issuance of common and preferred stock 30,206   21 30,185     30,206                        
Restricted stock awards, net of tax withholding 755   1 754     755                        
Restricted stock award forfeitures (4)     (4)     (4)                        
Redemption of operating partnership units 0   1 1,259     1,260   (1,260)                    
Dividends and distributions declared (14,577)       (11,009)   (11,009)   (3,568)                    
Ending balance at Mar. 31, 2019 477,686 0 523 389,547 (88,949) (1,981) 299,140 0 178,546                    
Beginning balance at Dec. 31, 2018 455,890 0 500 357,353 (82,699) (1,283) 273,871 0 182,019             (167) [1] (125) [1] (125) [1] (42) [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 12,340                                    
Unrealized cash flow hedge losses (4,462)                                    
Realized cash flow hedge losses reclassified to net income 107                                    
Noncontrolling interest in acquired real estate entity 4,870                                    
Ending balance at Jun. 30, 2019 $ 606,442 63,250 528 394,269 (95,490) (4,502) 358,055 4,550 243,837                    
Accounting Standards Update [Extensible List] us-gaap:AccountingStandardsUpdate201613Member                                    
Beginning balance at Dec. 31, 2018 $ 455,890 0 500 357,353 (82,699) (1,283) 273,871 0 182,019             (167) [1] (125) [1] (125) [1] (42) [1]
Ending balance at Dec. 31, 2019 655,447 63,250 563 455,680 (106,676) (4,240) 408,577 4,462 242,408             (3,009) [2] (2,185) [2] (2,185) [2] (824) [2]
Beginning balance at Mar. 31, 2019 477,686 0 523 389,547 (88,949) (1,981) 299,140 0 178,546                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 5,826       4,566   4,566 (320) 1,580                    
Unrealized cash flow hedge losses (3,459)         (2,547) (2,547)   (912)                    
Realized cash flow hedge losses reclassified to net income 35         26 26   9                    
Net proceeds from issuance of common and preferred stock 7,498   4 7,494     7,498     $ 61,001 $ 63,250 $ (2,249) $ 61,001            
Restricted stock awards, net of tax withholding 464   1 463     464                        
Noncontrolling interest in acquired real estate entity 4,870             4,870                      
Issuance of operating partnership units for acquisitions 68,075               69,061         $ (986) $ (986)        
Dividends and distributions declared (15,554)       (11,107)   (11,107)   (4,447)                    
Ending balance at Jun. 30, 2019 606,442 63,250 528 394,269 (95,490) (4,502) 358,055 4,550 243,837                    
Beginning balance at Dec. 31, 2019 655,447 63,250 563 455,680 (106,676) (4,240) 408,577 4,462 242,408             (3,009) [2] (2,185) [2] (2,185) [2] (824) [2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 9,135       6,992   6,992 (92) 2,235                    
Unrealized cash flow hedge losses (7,489)         (5,438) (5,438)   (2,051)                    
Realized cash flow hedge losses reclassified to net income 392         285 285   107                    
Net proceeds from issuance of common and preferred stock 1,349   1 1,348     1,349                        
Restricted stock awards, net of tax withholding 783   1 782     783                        
Restricted stock award forfeitures (6)     (6)     (6)                        
Dividends declared on preferred stock (1,067)       (1,067)   (1,067)                        
Dividends and distributions declared (17,134)       (12,454)   (12,454)   (4,680)                    
Ending balance at Mar. 31, 2020 638,401 63,250 565 457,804 (115,390) (9,393) 396,836 4,370 237,195                    
Beginning balance at Dec. 31, 2019 655,447 63,250 563 455,680 (106,676) (4,240) 408,577 4,462 242,408             $ (3,009) [2] $ (2,185) [2] $ (2,185) [2] $ (824) [2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 21,444                                    
Unrealized cash flow hedge losses (9,768)                                    
Realized cash flow hedge losses reclassified to net income 1,190                                    
Noncontrolling interest in acquired real estate entity 0                                    
Ending balance at Jun. 30, 2020 646,946 63,346 570 460,339 (107,263) (10,470) 406,522 582 239,842                    
Beginning balance at Mar. 31, 2020 638,401 63,250 565 457,804 (115,390) (9,393) 396,836 4,370 237,195                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net income 12,309       9,302   9,302 (44) 3,051                    
Unrealized cash flow hedge losses (2,279)         (1,657) (1,657)   (622)                    
Realized cash flow hedge losses reclassified to net income 798         580 580   218                    
Net proceeds from issuance of common and preferred stock 4,416   5 4,411     4,416     $ 91 $ 96 $ (5) $ 91            
Restricted stock awards, net of tax withholding 516     516     516                        
Restricted stock award forfeitures (1)     (1)     (1)                        
Acquisition of noncontrolling interest in real estate entity (6,130)     (2,386)     (2,386) (3,744)                      
Dividends declared on preferred stock (1,175)       (1,175)   (1,175)                        
Ending balance at Jun. 30, 2020 $ 646,946 $ 63,346 $ 570 $ 460,339 $ (107,263) $ (10,470) $ 406,522 $ 582 $ 239,842                    
[1] The Company recorded cumulative effect adjustments related to the new lease standard in the first quarter of 2019.
[2] The Company recorded cumulative effect adjustments related to the new Current Expected Credit Losses ("CECL") standard in the first quarter of 2020. See "Financial Statements — Note 2 — Significant Accounting Policies — Recent Accounting Pronouncements” for additional information.