BENEFICIAL INTEREST

3 Months Ended

Mar. 31, 2020

BENEFICIAL INTEREST

BENEFICIAL INTEREST

NOTE 11 – BENEFICIAL INTEREST

We are authorized to issue 100,000,000 common shares of beneficial interest with $0.01 par value and 50,000,000 preferred shares with $0.01 par value, which collectively represent the entire beneficial interest of Sterling. As of March 31, 2020 and December 31, 2019, there were 9,547,000 and 9,436,000 common shares outstanding, respectively. We had no preferred shares outstanding as of either date.

Dividends paid to holders of common shares were $0.2647 per share and $0.2613 per share for the three months ended March 31, 2020 and 2019, respectively. As of March 31, 2020 and 2019, the operating partnership declared first quarter distributions of $2,527 and $2,374, respectively, to holders of common shares paid on April 15, 2020 and 2019, respectively.