Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2023 and 2022, the components of the Company’s TRS deferred income tax assets and liabilities were as follows (dollars in thousands):

	December 31, 2023		December 31, 2022
Deferred tax liability:
Unrealized gain from limited partnerships	$	300	$	1,122
Unrealized gain from marketable securities & other		3,575		1,700
Total deferred tax liability	$	3,875	$	2,822
Net deferred tax liability	$	3,875	$	2,822

The net deferred tax liability balances are reflected in “Accrued expenses and other liabilities” in the accompanying Consolidated Balance Sheets.

Taxability Of Cash Distributions

For income tax purposes, dividends paid to holders of common stock generally consist of ordinary income, return of capital, capital gains, qualified dividends and un-recaptured Section 1250 gains, or a combination thereof. For the years ended December 31, 2023, 2022 and 2021, dividends per share held for the entire year were estimated to be taxable as follows:

	2023					2022					2021
	Amount		Percentage			Amount		Percentage			Amount		Percentage
Ordinary income	$	5.60		100.00	%	$	4.44		95.03	%	$	2.43		59.18	%
Capital gains		—		—			0.23		4.78	%		1.36		33.15	%
Un-recaptured Section 1250 gains		—		—			0.01		0.19	%		0.31		7.67	%
Total	$	5.60		100	%	$	4.68		100	%	$	4.10		100	%