Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Common shares
OP units and subordinated performance units
Preferred Shares
Common Shares
Common Shares
Common shares
Additional Paid-in Capital
Additional Paid-in Capital
Common shares
Distributions In Excess Of Earnings
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income
Common shares
Noncontrolling Interests
Noncontrolling Interests
Common shares
Noncontrolling Interests
OP units and subordinated performance units
Beginning balances (in shares) at Dec. 31, 2019       8,727,119                    
Beginning balances (in shares) at Dec. 31, 2019         59,659,108                  
Beginning 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]                            
OP units and subordinated performance units, net of offering costs     $ 6,206                     $ 6,206
LTIP units 1,011                     1,011    
Redemptions of OP units (in shares)         118,961                  
Redemptions of OP units 0       $ 1   1,437     (62)   (1,376)    
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 15,763               6,648     9,115    
Ending balances (in shares) at Mar. 31, 2020       8,732,719                    
Ending balances (in shares) at Mar. 31, 2020         68,027,212                  
Ending balances at Mar. 31, 2020 1,381,055     $ 218,318 $ 680   970,786   (213,447) (52,855)   457,573    
Beginning balances (in shares) at Dec. 31, 2019       8,727,119                    
Beginning balances (in shares) at Dec. 31, 2019         59,659,108                  
Beginning 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 54,961                          
Ending balances (in shares) at Sep. 30, 2020       8,732,719                    
Ending balances (in shares) at Sep. 30, 2020         69,177,872                  
Ending balances at Sep. 30, 2020 1,360,400     $ 218,318 $ 692   993,164   (242,222) (54,723)   445,171    
Beginning balances (in shares) at Mar. 31, 2020       8,732,719                    
Beginning balances (in shares) at Mar. 31, 2020         68,027,212                  
Beginning 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]                            
OP units and subordinated performance units, net of offering costs     5,842                     5,842
Redemptions of OP units (in shares)         292,291                  
Redemptions of OP 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 17,787               10,422     7,365    
Ending balances (in shares) at Jun. 30, 2020       8,732,719                    
Ending balances (in shares) at Jun. 30, 2020         68,703,733                  
Ending 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]                            
OP units and subordinated performance units, net of offering costs     3,427                     3,427
Redemptions of OP units (in shares)         293,083                  
Redemptions of OP 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 21,411               13,487     7,924    
Ending balances (in shares) at Sep. 30, 2020       8,732,719                    
Ending balances (in shares) at Sep. 30, 2020         69,177,872                  
Ending balances at Sep. 30, 2020 $ 1,360,400     $ 218,318 $ 692   993,164   (242,222) (54,723)   445,171    
Beginning balances (in shares) at Dec. 31, 2020 8,732,719     8,732,719                    
Beginning balances (in shares) at Dec. 31, 2020 71,293,117       71,293,117                  
Beginning balances at Dec. 31, 2020 $ 1,430,475     $ 218,318 $ 713   1,050,714   (251,704) (49,084)   461,518    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
OP units and subordinated performance units, net of offering costs     22,897                     22,897
Redemptions of OP units (in shares)         190,248                  
Redemptions of OP units 0       $ 2   2,332     (108)   (2,226)    
Issuance of shares, net of offering costs (in shares)           3,692,216                
Issuance of shares, net of offering costs   122,412       $ 37   122,375            
Contributions from noncontrolling interests 103                     103    
Effect of changes in ownership for consolidated entities 0           (18,983)     (290)   19,273    
Equity-based compensation expense 1,286           92         1,194    
Issuance of restricted common shares (in shares)         15,369                  
Issuance of restricted common shares 0                          
Vesting and forfeitures of restricted common shares, net (in shares)         (4,823)                  
Vesting and forfeitures of restricted common shares, net (152)           (152)              
Preferred share dividends (3,275)               (3,275)          
Common share dividends (25,014)               (25,014)          
Distributions to noncontrolling interests (20,604)                     (20,604)    
Other comprehensive income (loss) 25,857                 17,840   8,017    
Net income 27,635               20,838     6,797    
Ending balances (in shares) at Mar. 31, 2021       8,732,719                    
Ending balances (in shares) at Mar. 31, 2021         75,186,127                  
Ending balances at Mar. 31, 2021 $ 1,581,620     $ 218,318 $ 752   1,156,378   (259,155) (31,642)   496,969    
Beginning balances (in shares) at Dec. 31, 2020 8,732,719     8,732,719                    
Beginning balances (in shares) at Dec. 31, 2020 71,293,117       71,293,117                  
Beginning balances at Dec. 31, 2020 $ 1,430,475     $ 218,318 $ 713   1,050,714   (251,704) (49,084)   461,518    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Other comprehensive income (loss) 29,741                          
Net income $ 104,040                          
Ending balances (in shares) at Sep. 30, 2021 8,736,719     8,736,719                    
Ending balances (in shares) at Sep. 30, 2021 88,945,849       88,945,849                  
Ending balances at Sep. 30, 2021 $ 2,237,664     $ 218,418 $ 889   1,692,481   (272,636) (30,303)   628,815    
Beginning balances (in shares) at Mar. 31, 2021       8,732,719                    
Beginning balances (in shares) at Mar. 31, 2021         75,186,127                  
Beginning balances at Mar. 31, 2021 1,581,620     $ 218,318 $ 752   1,156,378   (259,155) (31,642)   496,969    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
OP units and subordinated performance units, net of offering costs     24,102                     24,102
Redemptions of OP units (in shares)         121,923                  
Redemptions of OP units 0       $ 1   1,554     (52)   (1,503)    
Issuance of shares, net of offering costs (in shares)           2,390,000                
Issuance of shares, net of offering costs   103,670       $ 24   103,646            
Redemption of Series A-1 preferred units (in shares)       4,000                    
Redemption of Series A-1 preferred units 0     $ 100               (100)    
Effect of changes in ownership for consolidated entities 0           (17,420)     (227)   17,647    
Equity-based compensation expense 1,348           113         1,235    
Issuance of restricted common shares (in shares)         13,255                  
Issuance of restricted common shares 0                          
Vesting and forfeitures of restricted common shares, net (in shares)         (2,474)                  
Vesting and forfeitures of restricted common shares, net (2)           (2)              
Preferred share dividends (3,276)               (3,276)          
Common share dividends (29,404)               (29,404)          
Distributions to noncontrolling interests (24,606)                     (24,606)    
Other comprehensive income (loss) (1,601)                 (1,125)   (476)    
Net income 35,675               28,718     6,957    
Ending balances (in shares) at Jun. 30, 2021       8,736,719                    
Ending balances (in shares) at Jun. 30, 2021         77,708,831                  
Ending balances at Jun. 30, 2021 1,687,526     $ 218,418 $ 777   1,244,269   (263,117) (33,046)   520,225    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
OP units and subordinated performance units, net of offering costs     $ 31,074                     $ 31,074
Redemptions of OP units (in shares)           340,349                
Redemptions of OP units   0       $ 3   5,556     $ (144)   $ (5,415)  
Issuance of shares, net of offering costs (in shares)           10,902,000                
Issuance of shares, net of offering costs   $ 537,322       $ 109   $ 537,213            
Effect of changes in ownership for consolidated entities 0           (94,670)     (1,095)   95,765    
Equity-based compensation expense 1,454           113         1,341    
Issuance of restricted common shares (in shares)         370                  
Vesting and forfeitures of restricted common shares, net (in shares)         (5,701)                  
Vesting and forfeitures of restricted common shares, net 0           0              
Preferred share dividends (3,276)               (3,276)          
Common share dividends (36,467)               (36,467)          
Distributions to noncontrolling interests (26,184)                     (26,184)    
Other comprehensive income (loss) 5,485                 3,982   1,503    
Net income $ 40,730               30,224     10,506    
Ending balances (in shares) at Sep. 30, 2021 8,736,719     8,736,719                    
Ending balances (in shares) at Sep. 30, 2021 88,945,849       88,945,849                  
Ending balances at Sep. 30, 2021 $ 2,237,664     $ 218,418 $ 889   $ 1,692,481   $ (272,636) $ (30,303)   $ 628,815