Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

Stockholders' Equity

No shares of common stock were issued during the three months ended March 31, 2021 as our offering was suspended. During the three months ended March 31, 2020 we raised approximately $12,977,000 of common stock. We paid approximately $1,503,000 and $889,000 in distributions to common stockholders for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, we had 12,232,289 of common stock outstanding, of which 12,214,771 was Class A common stock and 17,518 was Class TX (formerly Class T) common stock.

LTIP Unit Awards

On February 21, 2021, the compensation committee approved the grant of an aggregate of 17,500 time-based LTIP Units and 52,500 performance-based LTIP units to executive officers. The grants are similar in terms to those issued in 2020. Share based compensation for all LTIP awards during the three months ended March 31, 2021 was $45,000.