Shareholders' Equity

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Common Share Issuances:

See Note 7 for information regarding equity issuances related to share-based compensation.

Common Share Repurchases:

On March 1, 2021, our Board of Trustees authorized the repurchase of up to $150.0 million of our outstanding common shares through June 30, 2022, or the March 2021 Authorization. During the nine months ended September 30, 2021, we repurchased 430,871 of our common shares under the March 2021 Authorization, at a weighted average price of $25.70 per share, for a total investment of $11.1 million. As of September 30, 2021, we have $138.9 million of remaining authorization available under our share repurchase program.

During the nine months ended September 30, 2021 and 2020, certain of our employees and former employees surrendered 245,215 and 183,992 common shares owned by them, respectively, to satisfy their statutory tax withholding obligations in connection with the vesting of such common shares pursuant to our equity compensation plans.

Common Share and Unit Distribution:

In February 2021, the number of earned awards for recipients of the Company’s restricted stock units granted in January 2018 was determined. Pursuant to the terms of such awards, we paid a one-time catch-up cash distribution to these recipients in the aggregate amount of $6.0 million for distributions to common shareholders declared by our Board of Trustees during such awards' performance measurement period.

Preferred Share Distributions:

In 2021, our Board of Trustees declared distributions on our series D preferred shares to date as follows:

Declaration Date	Record Date	Payment Date	Series D Dividend Per Share
January 11, 2021	January 28, 2021	February 16, 2021	$	0.40625
April 9, 2021	April 29, 2021	May 17, 2021	$	0.40625
July 6, 2021	July 30, 2021	August 16, 2021	$	0.40625
October 7, 2021	October 29, 2021	November 15, 2021	$	0.40625