XML 44 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Stockholders' Equity (USD $)
Total
USD ($)
Preferred Stock
USD ($)
Additional Paid-in Capital
USD ($)
Accumulated Deficit and Distributions
USD ($)
Accumulated Other Comprehensive Income (Loss)
USD ($)
Common Class A
Common Class A
Common Stock
USD ($)
Common Class B
Common Stock
USD ($)
Stockholders' equity, beginning of year at Dec. 31, 2011 $ 189,808,272us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 48,685,499us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 271,617,462us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ (130,620,551)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_RetainedEarningsMember
$ 0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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  $ 31,466us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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$ 94,396us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Stockholders' equity, beginning of year (in shares) at Dec. 31, 2011   37,748us-gaap_SharesOutstanding
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        3,146,527us-gaap_SharesOutstanding
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9,439,583us-gaap_SharesOutstanding
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= us-gaap_CommonStockMember
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares)             41,445us-gaap_StockIssuedDuringPeriodSharesNewIssues
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124,331us-gaap_StockIssuedDuringPeriodSharesNewIssues
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Issuance of common stock 4,134,741us-gaap_StockIssuedDuringPeriodValueNewIssues   4,133,145us-gaap_StockIssuedDuringPeriodValueNewIssues
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(61)us-gaap_StockIssuedDuringPeriodValueNewIssues
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    414us-gaap_StockIssuedDuringPeriodValueNewIssues
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1,243us-gaap_StockIssuedDuringPeriodValueNewIssues
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Redemption of common stocks (in shares)             (7,909)us-gaap_StockRedeemedOrCalledDuringPeriodShares
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(23,726)us-gaap_StockRedeemedOrCalledDuringPeriodShares
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Redemption of common stock (743,115)us-gaap_StockRedeemedOrCalledDuringPeriodValue   (742,799)us-gaap_StockRedeemedOrCalledDuringPeriodValue
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      (79)us-gaap_StockRedeemedOrCalledDuringPeriodValue
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(237)us-gaap_StockRedeemedOrCalledDuringPeriodValue
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Dividends on preferred stock 0us-gaap_DividendsPreferredStock 373,992us-gaap_DividendsPreferredStock
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(373,992)us-gaap_DividendsPreferredStock
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Redemptions of preferred stock (in shares)   (356)us-gaap_StockRepurchasedAndRetiredDuringPeriodShares
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Redemptions of preferred stock (459,436)us-gaap_StockRepurchasedAndRetiredDuringPeriodValue (459,436)us-gaap_StockRepurchasedAndRetiredDuringPeriodValue
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Commissions and discounts on stock sales and related dealer-manager fees (361,364)ctt_CommissionsAndDealerManagerFeesGross   (361,364)ctt_CommissionsAndDealerManagerFeesGross
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Other offering costs (48,752)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts   (48,752)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
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Write-off of due to affiliates 27,315,249ctt_RelatedPartyTransactionWriteOffOfDeferredCosts   27,315,249ctt_RelatedPartyTransactionWriteOffOfDeferredCosts
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Net income (loss) (8,870,732)us-gaap_ProfitLoss     (8,870,732)us-gaap_ProfitLoss
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Other comprehensive income (loss) (687,674)us-gaap_OtherComprehensiveIncomeLossNetOfTax       (687,674)us-gaap_OtherComprehensiveIncomeLossNetOfTax
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= us-gaap_AccumulatedOtherComprehensiveIncomeMember
     
Stockholders' equity, end of year at Dec. 31, 2012 210,087,189us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 48,600,055us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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301,538,949us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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(139,491,344)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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(687,674)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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  31,801us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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95,402us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Stockholders' equity, end of year (in shares) at Dec. 31, 2012   37,392us-gaap_SharesOutstanding
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        3,180,063us-gaap_SharesOutstanding
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9,540,188us-gaap_SharesOutstanding
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= us-gaap_CommonStockMember
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares)             10,526,316us-gaap_StockIssuedDuringPeriodSharesNewIssues
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0us-gaap_StockIssuedDuringPeriodSharesNewIssues
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Issuance of common stock 142,105,266us-gaap_StockIssuedDuringPeriodValueNewIssues   142,000,003us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      105,263us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementClassOfStockAxis
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= us-gaap_CommonStockMember
0us-gaap_StockIssuedDuringPeriodValueNewIssues
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Restricted stock grants, net of amounts withheld for income taxes (in shares)             191,561us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
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900us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
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Long term incentive plan, net of amounts withheld for income taxes 1,211,982us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures   1,210,057us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      1,916us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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9us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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= us-gaap_CommonClassBMember
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= us-gaap_CommonStockMember
Forfeiture of restricted stock award (in shares)             (202)us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
/ us-gaap_StatementClassOfStockAxis
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(606)us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
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Forfeiture of restricted stock award 0us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures   (197)us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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205us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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    (2)us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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(6)us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
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Fractional share conversion (in shares)             17,662us-gaap_ConversionOfStockSharesConverted1
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(17,662)us-gaap_ConversionOfStockSharesConverted1
/ us-gaap_StatementClassOfStockAxis
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= us-gaap_CommonStockMember
Conversion to Class A Shares             176us-gaap_ConversionOfStockAmountConverted1
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(176)us-gaap_ConversionOfStockAmountConverted1
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= us-gaap_CommonClassBMember
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= us-gaap_CommonStockMember
Redemption of common stocks (in shares)             (15,018)us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(29,371)us-gaap_StockRedeemedOrCalledDuringPeriodShares
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= us-gaap_CommonStockMember
Redemption of common stock (680,495)us-gaap_StockRedeemedOrCalledDuringPeriodValue   (680,050)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      (150)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(295)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassBMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
Dividends on preferred stock 0us-gaap_DividendsPreferredStock 359,784us-gaap_DividendsPreferredStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
(359,784)us-gaap_DividendsPreferredStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
         
Redemptions of preferred stock (in shares)   (37,392)us-gaap_StockRepurchasedAndRetiredDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
           
Redemptions of preferred stock (48,959,839)us-gaap_StockRepurchasedAndRetiredDuringPeriodValue (48,959,839)us-gaap_StockRepurchasedAndRetiredDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
           
Other offering costs (11,591,773)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts   (11,591,773)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
         
Net income (loss) (13,196,920)us-gaap_ProfitLoss     (13,196,920)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
       
Other comprehensive income (loss) 956,042us-gaap_OtherComprehensiveIncomeLossNetOfTax       956,042us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
     
Stockholders' equity, end of year at Dec. 31, 2013 279,931,452us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
432,117,205us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(152,688,059)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
268,368us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  139,004us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
94,934us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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Stockholders' equity, end of year (in shares) at Dec. 31, 2013   0us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
        13,900,382us-gaap_SharesOutstanding
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9,493,449us-gaap_SharesOutstanding
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Dividends on common stock (in USD per share) 0.47us-gaap_Dividends              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of stock (in shares)             15,953,947us-gaap_StockIssuedDuringPeriodSharesNewIssues
/ us-gaap_StatementClassOfStockAxis
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Issuance of common stock 190,222,034us-gaap_StockIssuedDuringPeriodValueNewIssues   190,062,495us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
      159,539us-gaap_StockIssuedDuringPeriodValueNewIssues
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/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
 
Restricted stock grants, net of amounts withheld for income taxes (in shares)             9,694us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
 
Long term incentive plan, net of amounts withheld for income taxes 381,249us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures   381,152us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
/ us-gaap_StatementEquityComponentsAxis
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      97us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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Fractional share conversion (in shares)             6,328,952us-gaap_ConversionOfStockSharesConverted1
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(6,328,952)us-gaap_ConversionOfStockSharesConverted1
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassBMember
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= us-gaap_CommonStockMember
Conversion to Class A Shares             63,290us-gaap_ConversionOfStockAmountConverted1
/ us-gaap_StatementClassOfStockAxis
= us-gaap_CommonClassAMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(63,290)us-gaap_ConversionOfStockAmountConverted1
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= us-gaap_CommonStockMember
Redemption of common stocks (in shares)             (7)us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
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(21)us-gaap_StockRedeemedOrCalledDuringPeriodShares
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Redemption of common stock (370)us-gaap_StockRedeemedOrCalledDuringPeriodValue   (370)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
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      0us-gaap_StockRedeemedOrCalledDuringPeriodValue
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= us-gaap_CommonStockMember
0us-gaap_StockRedeemedOrCalledDuringPeriodValue
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= us-gaap_CommonStockMember
Dividends on common stock (15,335,478)us-gaap_DividendsCommonStockCash     (15,335,478)us-gaap_DividendsCommonStockCash
/ us-gaap_StatementEquityComponentsAxis
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Other offering costs (10,041,959)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts   (10,041,959)us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
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Net income (loss) 659,549us-gaap_ProfitLoss     659,549us-gaap_ProfitLoss
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= us-gaap_RetainedEarningsMember
       
Other comprehensive income (loss) (1,124,130)us-gaap_OtherComprehensiveIncomeLossNetOfTax       (1,124,130)us-gaap_OtherComprehensiveIncomeLossNetOfTax
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Stockholders' equity, end of year at Dec. 31, 2014 $ 444,692,347us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
$ 612,518,523us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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= us-gaap_AdditionalPaidInCapitalMember
$ (167,363,988)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_RetainedEarningsMember
$ (855,762)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
  $ 361,930us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 31,644us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
Stockholders' equity, end of year (in shares) at Dec. 31, 2014   0us-gaap_SharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_PreferredStockMember
        36,192,968us-gaap_SharesOutstanding
/ us-gaap_StatementClassOfStockAxis
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/ us-gaap_StatementEquityComponentsAxis
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3,164,476us-gaap_SharesOutstanding
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