Stockholder's Equity |
3 Months Ended |
|---|---|
Mar. 31, 2018 | |
| Equity [Abstract] | |
| STOCKHOLDER'S EQUITY |
STOCKHOLDER'S EQUITY
PREFERRED STOCK
As of March 31, 2018, the Company has a total of 5,200,000 depository shares outstanding, or 52,000 whole shares of its 7.375% Series A Preferred Stock. See Note 13 ("Subsequent Events") for further information regarding the declaration of a dividend on the 7.375% Series A Preferred Stock.
COMMON STOCK
As of March 31, 2018, the Company has 11,924,478 of common shares issued and outstanding. See Note 13 ("Subsequent Events") for further information regarding the declaration of a dividend on the common stock.
SHELF REGISTRATION
On February 18, 2016, the Company had a new shelf registration statement declared effective by the SEC, pursuant to which it may publicly offer additional debt or equity securities with an aggregate offering price of up to $600.0 million.
As of March 31, 2018, the Company has issued 70,863 shares of common stock under the its dividend reinvestment plan pursuant to the February 18, 2016 shelf, reducing availability by approximately $2.1 million. Shelf availability was further reduced by approximately $73.8 million as a result of the follow-on offering of additional 7.375% Series A Preferred Stock during the second quarter of 2017. As of March 31, 2018, availability on the current shelf registration is approximately $524.1 million.
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