Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited)

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Common Shares of Beneficial Interest, $0.01 par value per share
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share
Series A-1 preferred units, OP units, and subordinated performance units
OP units
Preferred Shares
Preferred Shares
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share
Common Shares
Common Shares
Common Shares of Beneficial Interest, $0.01 par value per share
Additional Paid-in Capital
Additional Paid-in Capital
Common Shares of Beneficial Interest, $0.01 par value per share
Additional Paid-in Capital
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, par value $0.01 per share
Distributions In Excess Of Earnings
Accumulated Other Comprehensive (Loss) Income
Noncontrolling Interests
Noncontrolling Interests
Series A-1 preferred units, OP units, and subordinated performance units
Noncontrolling Interests
OP units
Balances (in shares) at Dec. 31, 2018           6,900,000                      
Balances (in shares) at Dec. 31, 2018               56,654,009                  
Balances at Dec. 31, 2018 $ 1,402,299         $ 172,500   $ 567   $ 844,276     $ (114,122) $ 13,618 $ 485,460    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Issuance of equity units       $ 32,856                       $ 32,856  
Redemptions of equity units (in shares)               29,910                  
Redemptions of equity units 0             $ 0   250       7 (257)    
Effect of changes in ownership for consolidated entities 0                 (5,385)       (182) 5,567    
Equity-based compensation expense 1,112                 90         1,022    
Issuance of LTIP units for acquisition expenses 5                           5    
Issuance of restricted common shares (in shares)               18,218                  
Issuance of restricted common shares 0                                
Vesting and forfeitures of restricted common shares, net (in shares)               (3,451)                  
Vesting and forfeitures of restricted common shares, net (69)                 (69)              
Reduction in receivables from partners of the operating partnership 139                           139    
Preferred share dividends (2,588)                       (2,588)        
Common share dividends (17,010)                       (17,010)        
Distributions to noncontrolling interests (17,181)                           (17,181)    
Other comprehensive income (loss) (9,315)                         (5,917) (3,398)    
Net income (loss) 12,940                       7,411   5,529    
Balances (in shares) at Mar. 31, 2019           6,900,000                      
Balances (in shares) at Mar. 31, 2019               56,698,686                  
Balances at Mar. 31, 2019 1,403,188         $ 172,500   $ 567   839,162     (126,309) 7,526 509,742    
Balances (in shares) at Dec. 31, 2018           6,900,000                      
Balances (in shares) at Dec. 31, 2018               56,654,009                  
Balances at Dec. 31, 2018 1,402,299         $ 172,500   $ 567   844,276     (114,122) 13,618 485,460    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Other comprehensive income (loss) (29,667)                                
Net income (loss) 30,673                                
Balances (in shares) at Jun. 30, 2019           8,685,680                      
Balances (in shares) at Jun. 30, 2019               59,296,969                  
Balances at Jun. 30, 2019 1,498,784         $ 217,142   $ 593   901,499     (156,192) (5,466) 541,208    
Balances (in shares) at Mar. 31, 2019           6,900,000                      
Balances (in shares) at Mar. 31, 2019               56,698,686                  
Balances at Mar. 31, 2019 1,403,188         $ 172,500   $ 567   839,162     (126,309) 7,526 509,742    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Issuance of equity units       15,515 $ 8,540                     15,515 $ 8,540
Redemptions of equity units (in shares)               224,618                  
Redemptions of equity units 0             $ 2   1,839       28 (1,869)    
Issuance of shares, net of offering costs (in shares)             1,785,680 2,375,000                  
Issuance of shares, net of offering costs 70,637   $ 43,624       $ 44,642 $ 24   70,613   $ (1,018)          
Effect of changes in ownership for consolidated entities 0                 (9,179)       (28) 9,207    
Equity-based compensation expense 1,108                 82         1,026    
Issuance of LTIP units for acquisition expenses 56                           56    
Vesting and forfeitures of restricted common shares, net (in shares)               (1,335)                  
Vesting and forfeitures of restricted common shares, net 0                 0              
Preferred share dividends (3,257)                       (3,257)        
Common share dividends (18,970)                       (18,970)        
Distributions to noncontrolling interests (19,038)                           (19,038)    
Other comprehensive income (loss) (20,352)                         (12,992) (7,360)    
Net income (loss) 17,733                       (7,656)   25,389    
Balances (in shares) at Jun. 30, 2019           8,685,680                      
Balances (in shares) at Jun. 30, 2019               59,296,969                  
Balances at Jun. 30, 2019 $ 1,498,784         $ 217,142   $ 593   901,499     (156,192) (5,466) 541,208    
Balances (in shares) at Dec. 31, 2019 8,727,119         8,727,119                      
Balances (in shares) at Dec. 31, 2019 59,659,108             59,659,108                  
Balances at Dec. 31, 2019 $ 1,452,101         $ 218,178   $ 597   905,763     (197,075) (7,833) 532,471    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Issuance of equity units       6,206                       6,206  
Redemptions of equity units (in shares)               118,961                  
Redemptions of equity units 0             $ 1   1,437       (62) (1,376)    
LTIP units 1,011                           1,011    
Issuance of shares, net of offering costs (in shares)                 125,000                
Issuance of shares, net of offering costs   $ 4,249             $ 1   $ 4,248            
Merger and internalization of PRO, net of issuance costs (in shares)               8,105,192                  
Merger and internalization of PRO, net of issuance costs 9,595             $ 81   43,499       (402) (33,583)    
Redemption of Series A-1 preferred units (in shares)           5,600                      
Redemption of Series A-1 preferred units 0         $ 140                 (140)    
Effect of changes in ownership for consolidated entities 0                 15,857       (2,265) (13,592)    
Equity-based compensation expense 774                 76         698    
Issuance of LTIP units for acquisition expenses 40                           40    
Issuance of restricted common shares (in shares)               21,861                  
Issuance of restricted common shares 0                                
Vesting and forfeitures of restricted common shares, net (in shares)               (2,910)                  
Vesting and forfeitures of restricted common shares, net (94)                 (94)              
Preferred share dividends (3,273)                       (3,273)        
Common share dividends (19,747)                       (19,747)        
Distributions to noncontrolling interests (19,813)                           (19,813)    
Other comprehensive income (loss) (65,757)                         (42,293) (23,464)    
Net income (loss) 15,763                       6,648   9,115    
Balances (in shares) at Mar. 31, 2020           8,732,719                      
Balances (in shares) at Mar. 31, 2020               68,027,212                  
Balances at Mar. 31, 2020 $ 1,381,055         $ 218,318   $ 680   970,786     (213,447) (52,855) 457,573    
Balances (in shares) at Dec. 31, 2019 8,727,119         8,727,119                      
Balances (in shares) at Dec. 31, 2019 59,659,108             59,659,108                  
Balances at Dec. 31, 2019 $ 1,452,101         $ 218,178   $ 597   905,763     (197,075) (7,833) 532,471    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Other comprehensive income (loss) (72,246)                                
Net income (loss) $ 33,550                                
Balances (in shares) at Jun. 30, 2020 8,732,719         8,732,719                      
Balances (in shares) at Jun. 30, 2020 68,703,733             68,703,733                  
Balances at Jun. 30, 2020 $ 1,368,745         $ 218,318   $ 687   984,950     (228,924) (57,462) 451,176    
Balances (in shares) at Mar. 31, 2020           8,732,719                      
Balances (in shares) at Mar. 31, 2020               68,027,212                  
Balances at Mar. 31, 2020 1,381,055         $ 218,318   $ 680   970,786     (213,447) (52,855) 457,573    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Issuance of equity units       $ 5,842                       $ 5,842  
Redemptions of equity units (in shares)               292,291                  
Redemptions of equity units 0             $ 3   3,438       (238) (3,203)    
Issuance of shares, net of offering costs (in shares)                 387,000                
Issuance of shares, net of offering costs   $ 11,916             $ 4   $ 11,912            
Effect of changes in ownership for consolidated entities 0                 (1,286)       (73) 1,359    
Equity-based compensation expense 1,151                 100         1,051    
Vesting and forfeitures of restricted common shares, net (in shares)               (2,770)                  
Vesting and forfeitures of restricted common shares, net 0                 0              
Reduction in receivables from partners of the operating partnership 225                           225    
Preferred share dividends (3,274)                       (3,274)        
Common share dividends (22,625)                       (22,625)        
Distributions to noncontrolling interests (16,843)                           (16,843)    
Other comprehensive income (loss) (6,489)                         (4,296) (2,193)    
Net income (loss) $ 17,787                       10,422   7,365    
Balances (in shares) at Jun. 30, 2020 8,732,719         8,732,719                      
Balances (in shares) at Jun. 30, 2020 68,703,733             68,703,733                  
Balances at Jun. 30, 2020 $ 1,368,745         $ 218,318   $ 687   $ 984,950     $ (228,924) $ (57,462) $ 451,176