v3.25.2
Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 2025
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

 

Series

 

Description (1)

 

Number of shares

 

 

Liquidation preference

 

 

Issuance discount

 

 

Carrying value

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(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:

 

 

Six months ended June 30,

 

 

Cumulative

 

 

 

2025

 

 

2024

 

 

total (1)

 

 

(in thousands)

 

Common Shares repurchased

 

 

 

 

 

 

 

 

29,102

 

Cost of Common Shares repurchased (2)

 

$

 

 

$

 

 

$

427,229

 

 

(1)
Amounts represent the Common Share repurchase program total from its inception in August 2015 through June 30, 2025.
(2)
Cumulative total cost of Common Shares repurchased includes $582,000 of transaction fees.