Stockholders' Equity and Redeemable Preferred Stock (Tables)

3 Months Ended

Mar. 31, 2021

Stockholders' Equity and Redeemable Preferred Stock

Schedule of reconciliation of components of basic and diluted net loss per common share

	Three Months Ended
	March 31,
	2021		2020
Net income (loss) attributable to common stockholders	$	23,581	$	(16,493)
Dividends on restricted stock and LTIP Units expected to vest		(382)		(325)
Basic net income (loss) attributable to common stockholders	$	23,199	$	(16,818)
Weighted average common shares outstanding (1)		23,089,364		24,087,811
Potential dilutive shares (2)		198,725		—
Weighted average common shares outstanding and potential dilutive shares (1)		23,288,089		24,087,811
Net income (loss) per common share, basic	$	1.00	$	(0.70)
Net income (loss) per common share, diluted	$	1.00	$	(0.70)

(1) Amounts relate to shares of the Company’s Class A and Class C common stock outstanding.

(2) For the three months ended March 31, 2021, the following are included in the diluted shares calculation: a) Warrants outstanding from issuances in conjunction with the Company’s Series B Preferred Stock offerings that are potentially exercisable for 97,416 shares of Class A common stock, and b) potential vesting of restricted stock to employees for 101,309 shares of Class A common stock.

Schedule of distributions

	Payable to
	stockholders			Date
Declaration Date	of record as of	Amount		Paid or Payable
Class A Common Stock
December 11, 2020	December 24, 2020	$	0.162500	January 5, 2021
March 12, 2021	March 25, 2021	$	0.162500	April 5, 2021
Class C Common Stock
December 11, 2020	December 24, 2020	$	0.162500	January 5, 2021
March 12, 2021	March 25, 2021	$	0.162500	April 5, 2021
Series A Preferred Stock
December 11, 2020	December 24, 2020	$	0.515625	January 5, 2021
January 27, 2021 (1)	February 26, 2021	$	0.320833	February 26, 2021
Series B Preferred Stock
October 9, 2020	December 24, 2020	$	5.00	January 5, 2021
January 13, 2021	January 25, 2021	$	5.00	February 5, 2021
January 13, 2021	February 25, 2021	$	5.00	March 5, 2021
January 13, 2021	March 25, 2021	$	5.00	April 5, 2021
Series C Preferred Stock
December 11, 2020	December 24, 2020	$	0.4765625	January 5, 2021
March 12, 2021	March 25, 2021	$	0.4765625	April 5, 2021
Series D Preferred Stock
December 11, 2020	December 24, 2020	$	0.4453125	January 5, 2021
March 12, 2021	March 25, 2021	$	0.4453125	April 5, 2021
Series T Preferred Stock (2)
October 9, 2020	December 24, 2020	$	0.128125	January 5, 2021
January 13, 2021	January 25, 2021	$	0.128125	February 5, 2021
January 13, 2021	February 25, 2021	$	0.128125	March 5, 2021
January 13, 2021	March 25, 2021	$	0.128125	April 5, 2021

(1) The dividend was paid on the date indicated to stockholders in conjunction with the redemption of shares of Series A Preferred Stock.

(2) Shares of newly issued Series T Preferred Stock that are held only a portion of the applicable monthly dividend period will receive a prorated dividend based on the actual number of days in the applicable dividend period during which each such share of Series T Preferred Stock was outstanding.

Summary of distributions declared and paid

	Distributions
2021	Declared		Paid
First Quarter
Class A Common Stock	$	3,943	$	3,630
Class C Common Stock		12		12
Series A Preferred Stock		706		1,842
Series B Preferred Stock		7,089		7,400
Series C Preferred Stock		1,094		1,094
Series D Preferred Stock		1,235		1,235
Series T Preferred Stock		4,493		4,049
OP Units		1,027		1,027
LTIP Units		814		510
Total first quarter 2021	$	20,413	$	20,799