Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of the Changes in the Company's Nonvested Restricted Stock Awards

A summary of the unvested restricted shares is as follows:

	2024			2023			2022
	Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share
Unvested as of January 1	271,540	$	12.93	219,306	$	14.15	151,812	$	14.24
Granted	289,779	10.73		394,359	12.70		288,677	14.60
Vested	(381,554)	11.81		(254,030)	13.42		(190,525)	14.90
Forfeited	(14,268)	11.27		(88,095)	13.52		(30,658)	14.23
Unvested as of December 31	165,497	$	11.81	271,540	$	12.93	219,306	$	14.15

A summary of the unvested LTIP Unit awards is as follows:

	2024			2023			2022
	Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share
Unvested as of January 1	39,694	$	10.14	—	$	—	—	$	—
Granted	170,203	9.65		39,694	10.14		—	—
Vested	(90,025)	9.86		—	—		—	—
Forfeited	—	—		—	—		—	—
Unvested as of December 31	119,872	$	9.66	39,694	$	10.14	—	$	—

Schedule of Nonvested Performance-Based Units Activity

A summary of the unvested Performance Unit awards is as follows:

	2024			2023			2022
	Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share		Number of Shares	Weighted Average Grant Date Fair Value Per Share
Unvested as of January 1	110,625	$	13.74	96,421	$	13.10	93,107	$	9.99
Granted	50,000	9.23		47,500	12.61		47,500	17.12
Vested(1)	(26,500)	14.01		(30,796)	9.72		(21,421)	10.35
Forfeited	(23,750)	12.13		(2,500)	17.12		(22,765)	11.36
Unvested as of December 31	110,375	$	11.98	110,625	$	13.74	96,421	$	13.10

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(1)For 2024, this represents 26,500 Performance Units which were vested as of December 31, 2024, but not settled as common shares until the following period.

Date of Award	Number of Units Granted	Grant Date Fair Value		Conversion Range		Risk Free Interest Rate		Volatility		Expected Dividends
2019	22,500	$	10.13	0% to 200%		2.57	%	24.0	%	5.8	%
2020	35,000	11.57		0% to 200%		1.66	%	18.0	%	5.0	%
2021	42,500	9.67		0% to 200%		0.17	%	49.0	%	4.7	%
2022	47,500	17.12		0% to 200%	(1)	0.98	%	50.0	%	4.7	%
2023	47,500	12.61		0% to 200%	(1)	4.23	%	51.0	%	5.4	%
2024	50,000	9.23		0% to 200%	(1)	4.32	%	27.0	%	6.2	%

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(1)For Performance Units granted in 2022 and beyond, only 50% of each Award is subject to the conversion range. The remainder (50%) is guaranteed 1 to 1 conversion as long as the employee remains employed at the Company.