Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's provision for income taxes for the years ended December 31, 2023, 2022 and 2021 is summarized as follows:

	2023		2022		2021
Current:
Federal	$	—	$	—	$	(26)
State and local	(774)		(1,120)		(1,267)
Deferred federal	71		18		—
Total	$	(703)	$	(1,102)	$	(1,293)

Statutory Accounting Practices Disclosure

The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows:

	2023		2022		2021
Federal provision at statutory tax rate (21%)	$	71	$	18	$	(35)
State and local taxes, net of federal benefit	—		—		—
Other	(774)		(1,120)		(1,258)
Total	$	(703)	$	(1,102)	$	(1,293)

Summary of Average Taxable Nature of Dividends

A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2023, is as follows:

	2023			2022			2021
Total dividends per share	$	0.50		$	0.48		$	0.43
Ordinary income	71.67		%	81.26		%	65.89		%
Qualifying dividend	—		%	—		%	0.1		%
Capital gain	—		%	—		%	—		%
Return of capital	28.33		%	18.74		%	34.01		%
	100.00		%	100.00		%	100.00		%

A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2023, is as follows:

	2023			2022			2021
Total dividends per share	$	3.25		$	3.25		$	3.25
Ordinary income	100.00		%	100.00		%	99.84		%
Qualifying dividend	—		%	—		%	0.16		%
Capital gain	—		%	—		%	—		%
Return of capital	—		%	—		%	—		%
	100.00		%	100.00		%	100.00		%