Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Preferred Shares of Beneficial Interest

Preferred shares of beneficial interest are summarized below:

										Dividends per share, period ended June 30,
										Quarter				Six months
Preferred Share series	Description (1)	Number of shares		Liquidation preference		Issuance discount		Carrying value		2024		2023		2024		2023
Fixed-rate cumulative redeemable		(in thousands, except dividends per share)
A	8.125% Issued March 2017		4,600	$	115,000	$	3,828	$	111,172	$	0.51	$	0.51	$	1.02	$	1.02
B	8.00% Issued July 2017		7,800		195,000		6,465		188,535	$	0.50	$	0.50	$	1.00	$	1.00
C	6.75% Issued August 2021		10,000		250,000		8,225		241,775	$	0.42	$	0.42	$	0.84	$	0.84
			22,400	$	560,000	$	18,518	$	541,482

(1)Par value is $0.01 per share.

Summary of Common Share Repurchase Activity

The following table summarizes the Company’s Common Share repurchase activity:

	Quarter ended June 30,				Six months ended June 30,				Cumulative
	2024		2023		2024		2023		total (1)
	(in thousands)
Common Shares repurchased		—		1,636		—		2,274		29,102
Cost of Common Shares repurchased (2)	$	—	$	19,448	$	—	$	27,011	$	427,229

(1)Amounts represent the Common Share repurchase program total from its inception in August 2015 through June 30, 2024.

(2)Cumulative total cost of Common Shares repurchased includes $582,000 of transaction fees.