Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, is as follows:

	Number of Shares	Weighted-Average Grant-Date Fair Value Per Share
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
Granted	1,191,697	7.97
Vested	(526,453)	9.08
Forfeited	(184,661)	6.34
Balance at December 31, 2023	2,539,473	$	8.45

Schedule of Share-based Compensation, Activity

During 2023 and 2022, the Company granted common shares to certain employees and trustees as follows:

	2023		2022
Performance Shares(1)
Shares issued:
Index	407,611		282,720
Peer	407,606		282,715
Grant date fair value per share:(2)
Index	$	6.96	$	9.40
Peer	$	6.50	$	8.78
Non-Vested Common Shares:(3)
Shares issued	376,480		295,230
Grant date fair value	$	4,010	$	4,304

(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 2023, 266,812 of the 443,359 outstanding performance shares issued in 2020 vested. During 2022, all of the 552,121 performance shares issued in 2019 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