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Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Equity EQUITY
Common Stock
At-The-Market Offering—On March 10, 2020, the Company entered into a new equity distribution agreement to issue and sell, from time to time, up to $500.0 million in aggregate offering price of its common stock through an “at-the-market” equity offering program (the “ATM Program”), which expires in March 2023.
There was no ATM Program activity (or activity under any predecessor at-the-market equity offering programs) for the year ended December 31, 2020. The following table summarizes ATM Program activity for the years ended December 31, 2022 and 2021 (in thousands, except per share amounts):
For the Year Ended December 31,
20222021
Number of shares2,405 990 
Average sales price per share$20.00 $23.74 
Gross proceeds(1)
$48,100 $23,505 
(1)    Total gross proceeds is before $0.6 million and $0.3 million of commissions paid to the sales agents during the year ended December 31, 2022 and 2021, respectively, under the ATM Program.
As of December 31, 2022, the Company had $428.4 million available for future issuances under the ATM Program.
Share Repurchase Program — On March 20, 2020, the Company’s Board of Directors authorized a share repurchase program up to $150.0 million of outstanding shares of the Company’s common stock (the “Repurchase Program”). Repurchases under the Repurchase Program, which expires on March 31, 2023, may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated share repurchase transactions, or other methods of acquiring shares, in each case subject to market conditions and at such times as shall be permitted by applicable securities laws and determined by management. Repurchases under the Repurchase Program may also be made pursuant to a plan adopted under Rule 10b5-1 promulgated under the Exchange Act. The Company expects to finance any share repurchases under the Repurchase Program using available cash and may also use short-term borrowings under the Revolving Facility. The Company did not repurchase any shares of common stock under the Repurchase Program during the years ended December 31, 2022, 2021 and 2020. The Repurchase Program may be modified, discontinued or suspended at any time.
Dividends on Common Stock — The following table summarizes the cash dividends per share of common stock declared by the Company’s Board of Directors for 2022, 2021 and 2020 (dollars in thousands, except per share amounts):
For the Three Months Ended
2022March 31,June 30,September 30,December 31,
Dividends declared per share$0.275 $0.275 $0.275 $0.275 
Dividends payment dateApril 15, 2022July 15, 2022October 14, 2022January 13, 2023
Dividends payable as of record date[1]
$26,691 $26,683 $26,683 $27,386 
Dividends record dateMarch 31, 2022June 30, 2022September 30, 2022December 30, 2022
2021
Dividends declared per share$0.265 $0.265 $0.265 $0.265 
Dividends payment dateApril 15, 2021July 15, 2021October 15, 2021January 14, 2022
Dividends payable as of record date[1]
$25,633 $25,714 $25,714 $25,755 
Dividends record dateMarch 31, 2021June 30, 2021September 30, 2021December 31, 2021
2020
Dividends declared per share$0.25 $0.25 $0.25 $0.25 
Dividends payment dateApril 15, 2020July 15, 2020October 15, 2020January 15, 2021
Dividends payable as of record date[1]
$23,931 $23,931 $23,934 $23,933 
Dividends record dateMarch 31, 2020June 30, 2020September 30, 2020December 31, 2020
(1) Dividends payable includes dividends on performance stock awards that will be paid if and when the shares subject to such awards vest.