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Preferred Stock
3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Preferred Stock Preferred Stock
The Series 2019 Preferred Stock has a fixed redemption date of December 31, 2023 (subject to two successive one-year extensions at our discretion) and is classified as a liability on the condensed consolidated balance sheet. Dividends to preferred stockholders, paid at an annual rate of 5.5%, are classified as interest expense on the condensed consolidated statement of operations.

During the three months ended March 31, 2021 and 2020 we raised approximately $10,777,000 and $7,898,000 of Series 2019 Preferred Stock and paid approximately $488,000 and $61,000 in dividends. We had 4,387,688 shares of Series 2019 Preferred Stock outstanding as of March 31, 2021.