Subsequent Events

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Subsequent Acquisitions

From October 1, 2018, through October 31, 2018, the Company acquired 221 properties for an aggregate purchase price of approximately $55.1 million, which included 12 homes developed through our internal construction program.

Subsequent Dispositions

From October 1, 2018, through October 31, 2018, the Company disposed of 138 properties for aggregate net proceeds of approximately $21.2 million.

Declaration of Dividends

On November 1, 2018, the Company's board of trustees declared quarterly dividends of $0.05 per share on the Company's Class A and Class B common shares, $0.41 per share on the Company’s 6.5% Series D perpetual preferred shares, $0.40 per share on the Company’s 6.35% Series E perpetual preferred shares, $0.37 per share on the Company’s 5.875% Series F perpetual preferred shares, $0.37 per share on the Company's 5.875% Series G perpetual preferred shares, and $0.44 per share on the Company's 6.25% Series H perpetual preferred shares, which includes $0.05 per share attributable to the period from the original issuance date of the Series H perpetual preferred shares of September 19, 2018, through September 30, 2018. The quarterly dividends are payable on December 31, 2018, to shareholders of record on December 14, 2018. The Operating Partnership funds the payment of distributions, and an equivalent amount of distributions were declared on the corresponding Operating Partnership units.

Hurricane Michael

Certain of our properties in the Georgia and the Carolina markets were impacted by Hurricane Michael. The Company is assessing potential damages, which are estimated to be approximately $0.4 million to $0.7 million.