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
Accumulated Other Comprehensive (Loss) Income
Common Shares of Beneficial Interest, $0.01 par value per share
Noncontrolling Interests
Noncontrolling Interests
Common Shares of Beneficial Interest, $0.01 par value per share
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) (48,039)                                    
Net income (loss) 47,187                                    
Balances (in shares) at Sep. 30, 2019           8,727,119                          
Balances (in shares) at Sep. 30, 2019               59,328,388                      
Balances at Sep. 30, 2019 1,457,206         $ 218,178   $ 593   901,530     (187,305) (17,294)   541,504      
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      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Issuance of equity units       950                           950  
Redemption of Series A-1 preferred units (in shares)           41,439                          
Redemption of Series A-1 preferred units 0         $ 1,036       20           (1,056)      
Redemptions of equity units (in shares)               32,951                      
Redemptions of equity units 0             $ 0   277       (7)   (270)      
Effect of changes in ownership for consolidated entities 0                 (341)       (2)   343      
Equity-based compensation expense 1,153                 75           1,078      
Issuance of LTIP units for acquisition expenses 118                             118      
Vesting and forfeitures of restricted common shares, net (in shares)               (1,532)                      
Vesting and forfeitures of restricted common shares, net 0                 0                  
Reduction in receivables from partners of the operating partnership 137                             137      
Preferred share dividends (3,272)                       (3,272)            
Common share dividends (18,981)                       (18,981)            
Distributions to noncontrolling interests (19,825)                             (19,825)      
Other comprehensive income (loss) (18,372)                         (11,819)   (6,553)      
Net income (loss) 16,514                       (8,860)     25,374      
Balances (in shares) at Sep. 30, 2019           8,727,119                          
Balances (in shares) at Sep. 30, 2019               59,328,388                      
Balances at Sep. 30, 2019 $ 1,457,206         $ 218,178   $ 593   901,530     (187,305) (17,294)   541,504      
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  
Redemption of Series A-1 preferred units (in shares)           5,600                          
Redemption of Series A-1 preferred units 0         $ 140                   (140)      
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)      
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) (67,835)                                    
Net income (loss) $ 54,961                                    
Balances (in shares) at Sep. 30, 2020 8,732,719         8,732,719                          
Balances (in shares) at Sep. 30, 2020 69,177,872             69,177,872                      
Balances at Sep. 30, 2020 $ 1,360,400         $ 218,318   $ 692   993,164     (242,222) (54,723)   445,171      
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                          
Balances (in shares) at Jun. 30, 2020               68,703,733                      
Balances at Jun. 30, 2020 1,368,745         $ 218,318   $ 687   984,950     (228,924) (57,462)   451,176      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Issuance of equity units       $ 3,427                           $ 3,427  
Redemptions of equity units (in shares)                 293,083                    
Redemptions of equity units   0             $ 3   3,417       $ (249)   $ (3,171)    
Issuance of shares, net of offering costs (in shares)                 181,915                    
Issuance of shares, net of offering costs   $ 5,868             $ 2   $ 5,866                
Effect of changes in ownership for consolidated entities 0                 (1,170)       (24)   1,194      
Equity-based compensation expense 1,183                 101           1,082      
Vesting and forfeitures of restricted common shares, net (in shares)               (859)                      
Vesting and forfeitures of restricted common shares, net 0                 0                  
Reduction in receivables from partners of the operating partnership 37                             37      
Preferred share dividends (3,275)                       (3,275)            
Common share dividends (23,510)                       (23,510)            
Distributions to noncontrolling interests (17,897)                             (17,897)      
Other comprehensive income (loss) 4,411                         3,012   1,399      
Net income (loss) $ 21,411                       13,487     7,924      
Balances (in shares) at Sep. 30, 2020 8,732,719         8,732,719                          
Balances (in shares) at Sep. 30, 2020 69,177,872             69,177,872                      
Balances at Sep. 30, 2020 $ 1,360,400         $ 218,318   $ 692   $ 993,164     $ (242,222) $ (54,723)   $ 445,171