Stockholder's Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Stock by Class

As of June 30, 2020 and December 31, 2019, the Company had authority to issue 1,050,000,000 shares, consisting of the following:

Classification	No. of Authorized Shares		Par Value Per Share
Preferred stock		50,000,000	$	0.01
Class T common stock		250,000,000	$	0.01
Class S common stock		250,000,000	$	0.01
Class D common stock		250,000,000	$	0.01
Class I common stock		250,000,000	$	0.01
		1,050,000,000

Common Stock

The following tables detail the movement in the Company’s outstanding shares of common stock:

	Class S			Class I			Class T		Class D		Total
December 31, 2019		5,851,600			9,145,617			—		—		14,997,217
Common stock issued		4,749,282			51,851			—		—		4,801,133
Distribution reinvestments		77,757			4,128			—		—		81,885
Independent directors’ restricted stock vested(1)		—			5,749			—		—		5,749
Stock redemptions		(65,644	)		(903,345	)		—		—		(968,989	)
June 30, 2020		10,612,995			8,304,000			—		—		18,916,995

(1) The directors’ vested restricted stock represents $127,500 of the annual compensation paid to the independent directors since inception. The restricted stock is amortized over the one-year service period of such stock grants.

Dividends Declared

The following table details the net distribution for each of our share classes through June 30, 2020:

Declaration Date	Class S Shares		Class I Shares		Class T Shares		Class D Shares
December 30, 2019	$	0.0189	$	0.0250	$	—	$	—
January 30, 2020	$	0.0222	$	0.0294	$	—	$	—
February 27, 2020	$	0.0272	$	0.0341	$	—	$	—
March 30, 2020	$	0.0267	$	0.0341	$	—	$	—
April 30, 2020	$	0.0272	$	0.0344	$	—	$	—
May 29, 2020	$	0.0288	$	0.0361	$	—	$	—
June 30, 2020	$	0.0293	$	0.0365	$	—
Total	$	0.1803	$	0.2296	$	—	$	—