Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

v3.22.4
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
OP units and subordinated performance units, net of offering costs
OP units, subordinated performance units and Series A-1 preferred units, net of offering costs
OP units
Internalization of PRO, net of offering costs
Preferred Shares
Common Shares
Common Shares
Common Shares
Additional Paid-in Capital
Additional Paid-in Capital
Common Shares
Distribution in Excess of Earnings
Accumulated Other Comprehensive (Loss) Income
Noncontrolling Interests
Noncontrolling Interests
OP units and subordinated performance units, net of offering costs
Noncontrolling Interests
OP units, subordinated performance units and Series A-1 preferred units, net of offering costs
Noncontrolling Interests
OP units
Noncontrolling Interests
Internalization of PRO, net of offering costs
Balances (in shares) at Dec. 31, 2019           8,727,119                      
Balances (in shares) at Dec. 31, 2019             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   $ 36,222                       $ 36,222      
OP equity recorded in connection with property acquisitions 1,011                       1,011        
Redemption of Series A-1 preferred units (in shares)           5,600                      
Redemptions of Series A-1 preferred units 0         $ 140             (140)        
Redemptions of equity units (in shares)             892,070                    
Redemptions of OP units 0           $ 9   10,479     (685) (9,803)        
Issuance of shares, net of offering costs (in shares)             2,622,892                    
Issuance of shares, net of offering costs 83,904           $ 26   83,878                
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               6,825     (2,619) (4,206)        
Equity-based compensation expense 4,278               364       3,914        
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 (in shares)             (8,006)                    
Vesting and forfeitures of restricted common shares (94)               (94)                
Reduction in receivables from partners of the operating partnership 310                       310        
Preferred share dividends (13,097)                   (13,097)            
Common share dividends (90,141)                   (90,141)            
Distributions to noncontrolling interests (74,108)                       (74,108)        
Other comprehensive loss (59,024)                     (37,545) (21,479)        
Net income 79,478                   48,609   30,869        
Balances (in shares) at Dec. 31, 2020           8,732,719                      
Balances (in shares) at Dec. 31, 2020             71,293,117                    
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]                                  
Issuance of equity units     $ 195,099 $ 6,661                     $ 195,099 $ 6,661  
Redemption of Series A-1 preferred units (in shares)           4,000                      
Redemptions of Series A-1 preferred units 0         $ 100             (100)        
Redemptions of equity units (in shares)             700,326                    
Redemptions of OP units 0           $ 7   10,283     (316) (9,974)        
Issuance of shares, net of offering costs (in shares)             19,196,216                    
Issuance of shares, net of offering costs 900,980           $ 192   900,788                
Contributions from noncontrolling interests 103                       103        
Effect of changes in ownership for consolidated entities 0               (95,238)     (1,089) 96,327        
Equity-based compensation expense 5,462               380       5,082        
Issuance of restricted common shares (in shares)             29,248                    
Issuance of restricted common shares 0                                
Vesting and forfeitures of restricted common shares (in shares)             (19,978)                    
Vesting and forfeitures of restricted common shares (154)               (154)                
Preferred share dividends (13,104)                   (13,104)            
Common share dividends (131,708)                   (131,708)            
Distributions to noncontrolling interests (102,430)                       (102,430)        
Other comprehensive loss 44,136                     30,878 13,258        
Net income $ 146,935                   105,253   41,682        
Balances (in shares) at Dec. 31, 2021 8,736,719         8,736,719                      
Balances (in shares) at Dec. 31, 2021 91,198,929           91,198,929                    
Balances at Dec. 31, 2021 $ 2,482,455         $ 218,418 $ 912   1,866,773   (291,263) (19,611) 707,226        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                  
Issuance of equity units         $ 3,217                   $ 68,899   $ 3,217
Redemption of Series A-1 preferred units (in shares)           280,869                      
Redemptions of Series A-1 preferred units 0         $ 7,021             (7,021)        
Redemptions of equity units (in shares)             627,896                    
Redemptions of OP units $ 0           $ 6   11,026     33 (11,065)        
Issuance of shares, net of offering costs (in shares)       3,911,260                          
Repurchase of common shares (in shares) 1,986,175           1,986,175                    
Repurchase of common shares $ (90,109)           $ (20)   (90,089)                
Effect of changes in ownership for consolidated entities 0               (9,975)     173 9,802        
Equity-based compensation expense 6,258               410       5,848        
Issuance of restricted common shares (in shares)             10,405                    
Issuance of restricted common shares 0                                
Vesting and forfeitures of restricted common shares (in shares)             (8,910)                    
Vesting and forfeitures of restricted common shares (161)               (161)                
Preferred share dividends (13,425)                   (13,425)            
Common share dividends (195,699)                   (195,699)            
Distributions to noncontrolling interests (140,919)                       (140,919)        
Other comprehensive loss 84,733                     59,935 24,798        
Net income $ 183,765                   103,737   80,028        
Balances (in shares) at Dec. 31, 2022 9,017,588         9,017,588                      
Balances (in shares) at Dec. 31, 2022 89,842,145           89,842,145                    
Balances at Dec. 31, 2022 $ 2,389,014         $ 225,439 $ 898   $ 1,777,984   $ (396,650) $ 40,530 $ 740,813