Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Preferred Shares of Beneficial Interest

Preferred shares of beneficial interest are summarized below:

										Dividends per share, period ended September 30,
Preferred		Number of		Liquidation		Issuance		Carrying		Quarter				Nine months
Shares	Description (1)	shares		preference		discount		value		2024		2023		2024		2023
		(in thousands, except dividends per share)
Series A	8.125% Issued March 2017		4,600	$	115,000	$	3,828	$	111,172	$	0.51	$	0.51	$	1.53	$	1.53
Series B	8.00% Issued July 2017		7,800		195,000		6,465		188,535	$	0.50	$	0.50	$	1.50	$	1.50
Series C	6.75% Issued August 2021		10,000		250,000		8,225		241,775	$	0.42	$	0.42	$	1.26	$	1.26
			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:

		Nine months ended September 30,				Cumulative
		2024		2023		total (1)
	(in thousands)
Common Shares repurchased			—		2,274		29,102
Cost of Common Shares repurchased (2)		$	—	$	27,011	$	427,229

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

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