| Schedule of Stockholders Equity |
The following table provides information on shares of Series E Preferred Stock tendered for optional redemption and satisfied with cash payments during the three and nine months ended September 30, 2026 and 2025 (dollars in thousands):
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|
|
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|
|
|
|
|
|
|
|
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|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
| Number of shares redeemed |
27,600 |
|
600 |
|
65,360 |
|
1,400 |
| Settlement payment |
$ |
621 |
|
|
$ |
13 |
|
|
$ |
1,485 |
|
|
$ |
31 |
|
|
| Schedule of Sale of Stock by Subsidiary |
The following table provides information on shares of common stock sold under the ATM Program during the three and nine months ended September 30, 2026 and 2025 (dollars in thousands, except per-share amounts):
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|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
| Number of shares sold |
156,273 |
|
|
122,743 |
|
|
5,277,928 |
|
|
122,743 |
|
| Weighted-average offering price per share |
$ |
9.90 |
|
|
$ |
9.28 |
|
|
$ |
10.02 |
|
|
$ |
9.28 |
|
| Gross proceeds |
$ |
1,547 |
|
|
$ |
1,140 |
|
|
$ |
52,896 |
|
|
$ |
1,140 |
|
Net proceeds(1)
|
$ |
1,531 |
|
|
$ |
1,128 |
|
|
$ |
52,337 |
|
|
$ |
1,128 |
|
(1)Net of underwriting commissions.
The following table summarizes repurchase activity under the Repurchase Program during the three and nine months ended September 30, 2026 (dollars in thousands, except per-share amounts):
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|
|
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|
|
Three Months Ended September 30, 2026 |
|
Nine Months Ended September 30, 2026 |
| Series B Preferred Stock: |
| Number of shares repurchased |
168,578 |
|
|
350,890 |
|
Gross repurchase price(1)
|
$ |
3,531 |
|
|
$ |
7,298 |
|
| Weighted-average repurchase price per share |
$ |
20.94 |
|
|
$ |
20.80 |
|
Gain on repurchase(2)
|
$ |
220 |
|
|
$ |
507 |
|
| Series C Preferred Stock: |
| Number of shares repurchased |
288,245 |
|
|
649,143 |
|
Gross repurchase price(1)
|
$ |
5,974 |
|
|
$ |
13,316 |
|
| Weighted-average repurchase price per share |
$ |
20.72 |
|
|
$ |
20.51 |
|
Gain on repurchase(2)
|
$ |
564 |
|
|
$ |
1,408 |
|
(1)Inclusive of broker commissions.
(2)The gain on the repurchase of cumulative redeemable preferred stock is included within Gain on extinguishment of cumulative redeemable preferred stock, net on our accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
The following table summarizes repurchase activity under the Repurchase Program subsequent to September 30, 2026 (dollars in thousands, except per-share amounts):
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|
|
|
|
| Series B Preferred Stock: |
| Number of shares repurchased |
86,067 |
|
Gross repurchase price(1)
|
$ |
1,690 |
|
| Weighted-average repurchase price per share |
$ |
19.63 |
|
| Gain on repurchase |
$ |
225 |
|
| Series C Preferred Stock: |
| Number of shares repurchased |
96,805 |
|
Gross repurchase price(1)
|
$ |
1,901 |
|
| Weighted-average repurchase price per share |
$ |
19.64 |
|
| Gain on repurchase |
$ |
294 |
|
(1)Inclusive of broker commissions.
|
| Schedule of Dividends Declared |
The per-share distributions to preferred and common stockholders declared by our Board of Directors during the three and nine months ended September 30, 2026 and 2025 are reflected in the table below.
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|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
| Issuance |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
| Series B Preferred Stock |
|
$ |
0.375 |
|
|
$ |
0.375 |
|
|
$ |
1.125 |
|
|
$ |
1.125 |
|
| Series C Preferred Stock |
|
0.375 |
|
|
0.375 |
|
|
1.125 |
|
|
1.125 |
|
Series D Term Preferred Stock(1)(2)
|
|
— |
|
|
0.312501 |
|
|
0.104167 |
|
|
0.937503 |
|
| Series E Preferred Stock |
|
0.312501 |
|
|
0.312501 |
|
|
0.937503 |
|
|
0.937503 |
|
| Common Stock |
|
0.1401 |
|
|
0.1401 |
|
|
0.4203 |
|
|
0.4203 |
|
(1)Dividends are treated similarly to interest expense on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.
(2)The Series D Term Preferred Stock was redeemed in full on January 30, 2026.
On October 13, 2026, our Board of Directors declared the following monthly cash distributions to holders of our preferred and common stock:
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| Issuance |
|
Record Date |
|
Payment Date |
|
Distribution per Share |
| Series B Preferred Stock: |
|
October 23, 2026 |
|
October 30, 2026 |
|
$ |
0.125 |
|
|
|
November 19, 2026 |
|
November 30, 2026 |
|
0.125 |
|
|
|
December 21, 2026 |
|
December 31, 2026 |
|
0.125 |
|
| Total Series B Preferred Stock Distributions: |
|
$ |
0.375
|
|
|
|
|
|
|
|
|
| Series C Preferred Stock: |
|
October 23, 2026 |
|
October 30, 2026 |
|
$ |
0.125 |
|
|
|
November 19, 2026 |
|
November 30, 2026 |
|
0.125 |
|
|
|
December 21, 2026 |
|
December 31, 2026 |
|
0.125 |
|
| Total Series C Preferred Stock Distributions: |
|
$ |
0.375
|
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|
| Series E Preferred Stock: |
|
October 28, 2026 |
|
November 5, 2026 |
|
$ |
0.104167 |
|
|
|
November 25, 2026 |
|
December 4, 2026 |
|
0.104167 |
|
|
|
December 28, 2026 |
|
January 5, 2027 |
|
0.104167 |
|
| Total Series E Preferred Stock Distributions: |
|
$ |
0.312501
|
|
|
|
|
|
|
|
|
| Common Stock: |
|
October 23, 2026 |
|
October 30, 2026 |
|
$ |
0.0467 |
|
|
|
November 19, 2026 |
|
November 30, 2026 |
|
0.0467 |
|
|
|
December 21, 2026 |
|
December 31, 2026 |
|
0.0467 |
|
| Total Common Stock Distributions |
|
$ |
0.1401
|
|
|