Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Nonvested Share Activity

Non-vested share activity for the years ended December 31, 2022 and 2021, is as follows:

	Number of Shares	Weighted-Average Grant-Date Fair Value Per Share
Balance at December 31, 2020	2,704,729	$	7.27
Granted	899,328	7.85
Vested	(1,303,149)	7.82
Forfeited	(10,264)	10.09
Balance at December 31, 2021	2,290,644	7.17
Granted	860,665	10.97
Vested	(951,472)	7.00
Forfeited	(140,947)	9.21
Balance at December 31, 2022	2,058,890	$	8.70

Schedule of Share-based Compensation, Activity

During 2022 and 2021, the Company granted common shares to certain employees and trustees as follows:

	2022		2021
Performance Shares(1)
Shares issued:
Index	282,720		297,636
Peer	282,715		297,632
Grant date fair value per share:(2)
Index	$	9.40	$	7.13
Peer	$	8.78	$	6.23
Non-Vested Common Shares:(3)
Shares issued	295,230		304,060
Grant date fair value	$	4,304	$	3,080

(1)The shares vest based on the Company's total shareholder return growth after a three-year measurement period relative to an index and a group of Company peers. Dividends will not be paid on these grants until earned. Once the performance criteria are met and the actual number of shares earned is determined, such shares vest immediately. During 2022, all of the 552,121 performance shares issued in 2019 vested. During 2021, all of the 662,044 performance shares issued in 2018 vested.

(2)The fair value of grants was determined at the grant date using a Monte Carlo simulation model.

(3)The shares vest ratably over a three-year service period