Equity

3 Months Ended

Mar. 31, 2021

The Company sold 429,061 shares of common stock through its at-the-market equity program and raised proceeds of $22.7 million net of $0.2 million in commissions paid under the equity distribution agreement during the three months ended March 31, 2021. During the three months ended March 31, 2020, the Company sold 115,834 shares of common stock through its at-the-market equity program and raised proceeds of $6.0 million net of $0.1 million in commissions paid under the equity distribution agreement.

The Company’s changes in total common stockholders’ equity for the three months ended March 31, 2021 and 2020 were as follows:


	Three months ended March 31, 2021
	Common Stock			Additional Paid-in Capital		Retained Earnings		Total Stockholders' Equity
	Shares	Amount
	(In thousands)
Balance at January 1, 2021	50,334	$	503	$	448,632	$	472,209	$	921,344
Net loss						(3,032)		(3,032)
Issuance of common stock	528	5		24,481				24,486
Repurchase of common stock	(27)	—		(1,415)				(1,415)
Dividends paid on common stock ($0.2300 per share)						(11,581)		(11,581)
Balance at March 31, 2021	50,835	508		471,698		457,596		929,802


	Three months ended March 31, 2020
	Common Stock			Additional Paid-in Capital		Retained Earnings		Total Stockholders' Equity
	Shares	Amount
	(In thousands)
Balance at January 1, 2020	48,532	$	485	$	362,275	$	417,146	$	779,906
Net loss						(20,307)		(20,307)
Issuance of common stock	210	2		7,227				7,229
Repurchase of common stock	(28)	—		(1,373)				(1,373)
Dividends paid on common stock ($0.2125 per share)						(10,315)		(10,315)
Balance at March 31, 2020	48,714	487		368,129		386,524		755,140